FARM BUSINESS NEWS
Minding Ag's Business
Marcia Zarley Taylor DTN Executive Editor
Thu Jan 9, 2014 01:19 PM CST

Congress threw U.S. agriculture a curve ball when it let accelerated depreciation virtually vanish in 2014. The popular 50% bonus depreciation sunset Dec. 31. More painful, instead of $500,000 of Sec. 179 capital improvements eligible for first-year tax writeoff, your new limit is only $25,000. (Don't have a panic attack--DTN's tax columnist Andy Biebl expects Congress to retroactively lift that ceiling to $140,000 or so, but that's not set in concrete yet. John McNutt, a consultant with Latta Harris in Tipton, Iowa, speculates the ceiling could be $200,000 or even $250,000.)

Unless Congress acts, someone in a high tax bracket ...

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