- Aug 4, 2011
- 81,129
- 14,025
- 2,190
And to commies, land owners, farmers, and ranchers are the enemy.
See the red...an example of Dem admin commies squashing rural economies and putting the tongs to the balls of family farms and ranches.
""This bill lowers taxes for the vast majority of our agricultural families," said Oregon Farm Bureau President Barry Bushue.
"Bushue pointed out that the bill simplifies rate structures and eliminates the death tax for estates under $11 million while maintaining annual indexing for inflation, which covers nearly all family ag operations.
"He said the bill preserves important tools, such as cash accounting, stepped-up basis, deductions for business interest, and carry forward of net operating losses.
"The bill also continues and improves Section 179 bonus deprecation, also known as immediate expensing, through 2022.
"In some recent years, Section 179 was not re-authorized until literally days before the end of a calendar year, meaning farm and ranch families did not have time to make investments that benefitted from the policy. Farmers and ranchers will now be able to write off costs of qualifying purchases up to $1 million for small businesses (up from $500,000). The bill also allows use of Section 179 for qualifying used equipment, not just new."
Oregon Farm Bureau: Tax reform will help agriculture
See the red...an example of Dem admin commies squashing rural economies and putting the tongs to the balls of family farms and ranches.
""This bill lowers taxes for the vast majority of our agricultural families," said Oregon Farm Bureau President Barry Bushue.
"Bushue pointed out that the bill simplifies rate structures and eliminates the death tax for estates under $11 million while maintaining annual indexing for inflation, which covers nearly all family ag operations.
"He said the bill preserves important tools, such as cash accounting, stepped-up basis, deductions for business interest, and carry forward of net operating losses.
"The bill also continues and improves Section 179 bonus deprecation, also known as immediate expensing, through 2022.
"In some recent years, Section 179 was not re-authorized until literally days before the end of a calendar year, meaning farm and ranch families did not have time to make investments that benefitted from the policy. Farmers and ranchers will now be able to write off costs of qualifying purchases up to $1 million for small businesses (up from $500,000). The bill also allows use of Section 179 for qualifying used equipment, not just new."
Oregon Farm Bureau: Tax reform will help agriculture
