EQUIPMENT NEWS
Taxlink by Andy Biebl
Andy Biebl DTN Tax Columnist
Mon Mar 10, 2014 10:14 AM CDT

It took the IRS four drafts, but we have finally arrived at final regulations on when an expenditure is a current expense versus a capitalized improvement. This has long been a vexing question. Fortunately, farmers tend to have less risk on this issue than their non-ag counterparts. Farm structures range in depreciable life from 10 to 20 years, whereas real estate in the non-ag sector is 39 years. Here are some of the key definitions from the new regulations.

Materials and supplies

These are deductible at purchase, even though there is significant value. Examples are fuels and lubricants, and other ...

Quick View
  • Xtend Moves Forward USDA has issued its final environmental impact statement recommending full deregulation of Monsan...
  • Land Market What could the next year hold for land values?
  • No Agreement on Tax Extenders White House spokesman Josh Earnest on Monday said in his daily briefing that the White House woul...
  • Year-End Tax Panic Do-it-yourselfers beware: Last-minute tax rules could complicate your 2014 returns. Small employe...
  • Dow's Gutsy Decision Dow's decision to launch Enlist offers some hand-selected growers a chance to test drive new tech...
  • Congress Reaches Funding Deal The overall Agriculture Department and related agencies bill would cost $20.5 billion for fiscal ...
  • Need To Bee Accurate A news story had the wires buzzing Tuesday afternoon after a report that EPA was set to restrict ...
  • Kub's Den The Dakotas lost more than $130 million in grain revenue during the 2013-14 marketing year compar...
  • Ask the Vet What can I do to improve udder quality in my herd?
Related News Stories
Minnesota Cold
Machinery Chatter
Russian Economic Sanctions
Machinery Chatter
Used Equipment Prices to Fall?
Machinery Chatter
No Agreement on Tax Extenders
A Christmas List
Machinery Chatter
Deere: Sharp Decline in Equipment Sales