Year End Decisions

We all want our businesses to be successful.  Part of that is managing expenses.  Now is the time of year when everyone is crunching the numbers determining how to create the best outcome for the year.  Investments in equipment for your business at the right time can allow for great tax benefits.  This becomes especially important in the business of farming.

Section 179 Tax Deduction

This is a tax incentive for small businesses to purchase equipment, or in other words, invest in your business.  For 2015, the deduction limit is $500,000.  This means you can write off your entire purchase the same year you purchase and put into service the equipment instead of depreciating it over several years a little at a time.

For example, you purchase a new skid steer and a Top-Spread Bale Spreader.  The cash savings on your purchases would be larger than the amount you pay for your own spreader.  This is incredible savings to take advantage of.

To check out what you might be able to save, here is a free simple calculator to use.

Section 179 Calculator

We can work with you to place your equipment purchases into the tax year that works best for you and your business.

When will you save?  2015 or 2016?  Give us a call today! 641.228.1101