New Farm Equipment + Tax Write-Off = Big Win!
As a farmer, you make a living — and you’re always watching your bottom line. When you choose an investment, you do your research because you need that investment to pay you back.
That’s the reason Farmco cattle feeders are a good match for farmers — our feeders hold their value and they’re designed to save you money.
In fact, Farmco Cattle Feeders help you save money on your farm in more ways than one. First and foremost, Farmco feeders and livestock feeding equipment reduce the amount of feed your cattle waste, reducing how much you have to pay to feed them. That’s savings you’ll appreciate year after year.
Furthermore, Farmco feeders make ground feeding of hay a thing of the past, which drastically reduces wasted hay.
Finally, if you purchase your Farmco feeder before 2018, chances are you can count it as a deduction on your 2017 Federal Income Taxes. This is just another way Farmco helps farmers save and another reason why December is a popular time to buy farm equipment.
Chances are you have a very clear idea as to what the 2017 profits from your farm look like — and what you owe in taxes as a result. Purchasing equipment while the calendar still reads 2017 is a great way to cut down on what you’ll owe for the profit you made. If that equipment just so happens to save you money for the next few decades, you win twice.
Here are a few basic requirements you need to know in order to write off your cattle feeder on your 2017 federal income taxes.
Chances are you likely know how your farm should be classified. If you aren’t certain, a tax specialist with a focus in agricultural tax law can help you understand your unique situation.
If you’re interested to learn more about whether a Farmco cattle feeder is right for your farm, get in contact with us. Farmco products are sold by a large network of agricultural equipment dealer and are shipped nationwide.
Start your conversation with Farmco today.
note: all tax information is presented as a general resource — not as professional advice. Consult with a tax professional for guidance specific to your farm or financial situation.