|
|
|
|
 |
|
|
|
|
Apr 10 2008
Omaha, Nebraska, –( April 10, 2008) Under the new Economic Stimulus Act of 2008 signed by President Bush, farmers and ranchers are among thosewho can depreciate an additional 50 percent of the cost of new equipment in the first year. To be eligible for the “bonus depreciation”, the equipment must be new and placed in service before January 1, 2009. By lowering your taxable income, the depreciation bonus could cut your 2008 tax bill. This is in addition to the Section 179 depreciation deduction which was raised from $128,000 to $250,000 for 2008 on purchases of new and used equipment.
Consult a tax specialist to see what effect bonus depreciation and Section 179 depreciation could have on your buy-versus-lease decision. And remember, when it comes to financing your new and used equipment, make sure you compare AgDirect® against other available options. Simple loan/lease applications, fast credit decisions and flexible terms make AgDirect your best equipment and machinery financing option.
|
|
|
|
|
|
|
|
|
|