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Senior Advisor

Re: High farm income year market bias?

It's not the best idea to sell additional grain in this year to pay for a pattern tiling job and your tiler doesn't show up.  

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Senior Contributor

Re: High farm income year market bias?

Interesting thread. I have a question vs. a comment. Besides the section 179 rise to 500k, is there also a bonus depreciation? 50%? How does that work?  Did I read that? I wonder if these extra benefits won't be extended but not announced until after Jan 1 so as to not discourage buying now!! 

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Veteran Contributor

Re: High farm income year market bias?

Yes there is also bonus acclerated depreciation. They have already announced that it will be in effect for both the 2010 and the 2011 tax years. It is a great incentive to purchase capitol needs and one of the few tax incentives that really make good sense.

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Senior Advisor

Re: High farm income year market bias?

No they do not make sense. Depreciation is  legitimate expense but when the expense occurs, not years ahead of schedule.  There is no logical reason why you should be able to buy a $300K combine and expense it all in one year when it's useful life will be over a decade. It's tax avoidance written into the tax code for the benefit of business. It may well be legal but it certainly isn't fair or deserved. Especially, when you consider the huge deficits the government is running.

 

Who do we expect to pay the taxes if those with profits don't?

 

 

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Senior Contributor

Re: High farm income year market bias?

Good.  We have a variety of opinions on what is really a Farm Business discussion topic.  Can we get back to Marketing Talk?

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Senior Advisor

Re: High farm income year market bias?

You are right, Of course.

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Veteran Contributor

Re: High farm income year market bias?

It is funny that you used that example as that is exactly one of my purchases. It's useful life will be one year for me. Next year somebody else can depreciate the same combine for as long as they choose. Is that logical?

 

It is odd that somebody who owns NO machinery has such strong views over those that do actually have a dog in the fight. Very typical liberal.

 

I do know for sure who won't pay the taxes. Obama fed welfare recipients. I pay much more than my fair share. Is that fair or deserved?

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Senior Contributor

Re: High farm income year market bias?

Cut the crap Patriot.

 

Depreciation is a topic that affects maekting by the way Jim. I think that is why it was introduced.

 

But back to Patrtiot. EVERY industry thinks it knows best how it should be treated regarding taxes - as close to none as possible usually - so to some degree Krafty has a point. The idea that who owns machinery should restrict the discussion to only those who own some is purely ridiculous. As Adam Smith observed, have a social event where the leaders of an industry are gathered and the discussion wiill quickly move to the topic of how to tilt policy in their direction.

 

By the way, our welfare was decided long before Obama and passed by Congress - so stop with the ad hominims. Makes you look like you are arrogant. As for your fair share - don't tell me you recieve no welfare - please.

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Senior Reader

Re: High farm income year market bias?

The Problem is not that taxes are not high enought , but that spending is to high.

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Contributor

Re: High farm income year market bias?

500k section 179 is for 2010 and 2011

however bonus depreciation is only for 2010 so far.

 

 

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