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Red River Valley | Mark on it becoming INCOME pretty sure you are wrong it goes as capatial gains with the sweet rates that apply. BTW I don't think you get it as far as the companies mentioned it's not the taxes they pay theat will be a factor it the sales that they loose because of the lack of depreciation for the Farmer, Construction companies, Fert. dealers, and other big ticket user's that will kill sales.
Most farmers in the US are over equiped and without depreciation they will stop buying in a Minute hence the onslought of a hard recession.
What good does expensing an ITEM do if you are not going to pay Income tax. Maybe if your a costum operator you can convince the people you are fleecing that they have to repay you because you are expensing out that $300,000 peice of equipment but to the taxing peoples it won't matter.
Not saying going to a national sales tax is a bad thing just give me a 3-4 yrs heads up and I will be done buying for my farming career. | |
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Quite a bloodbath today.
