You Have Choice In Figuring Depreciation Deductions
Farmers may choose among several depreciation methods to reduce gross income from machinery equipment and livestock wear and age. The Agricultural Law Center at the State University of Iowa notes the best method depends on income and that land and personal-use property are not depreciable. Three main methods exist straight-line declining balance and sum of the digits with eligibility rules for original users new assets and livestock with useful lives of three years or more. New tax law allows 20 percent expensing on new or used property with annual limits. after that regular depreciation applies. Farmers should consult an attorney or tax advisor to maximize benefits.
MENTIONED IN THIS ARTICLE
Internal Revenue Service
Agricultural Law Center
State University of Iowa
Law Center
Iowa State College
U.S. Department of Agriculture
Internal Revenue
85-year-old Spirit Lake gardener grows giant carrot
Mrs Henry McKinney of Spirit Lake displayed a 3 pound carrot she grew this summer. The bulky vegetable measured 15 inches around at the widest point and 10 inches in length. Mrs McKinney, 85, does all her own gardening.
MENTIONED IN THIS ARTICLE
Henry McKinney
Spirit Lake
McKinney
Eye Bank Seeks More Donors At State University
The Lions Eye Bank at the State University of Iowa Hospitals issues a plea for Iowans to sign donor cards. Donors will Eyes to the Bank after death for transplants or research. over 85 corneal transplants have been done since 1955 but donations are dropping. Dr A E Braley notes slowed eye research and urges public action to speed eye distribution to the University Medical Center.
MENTIONED IN THIS ARTICLE
SUT
Braley
Lions Clubs
Eye Bank
University Medical Center
Keep Christmas Safe Take it easy this holiday season
Take it easy during Christmas to prevent accidents. Protect your tree by placing it in water or wet sand and check lights for damage. Don’t leave lights on when away. Be mindful of guests and avoid dropped cigars. Don’t drink and drive after parties. Slow down and live this Christmas.
Also Mentioned on This Page
Kim
Russell Krominga
Harlan, Randy and
Earl Young
John Stott
Mrs
Melvin Ricks
Benry Bruns
This
MR. and
Mrs. Floyd
Huisman Lenora
Kenneth
Kay Marla
Marilyn
J. K. Hill
Carrot
Don Michaelsen
Neal Michaelsen
Titonka Implement Company
Mrs. Walker McDonald
Our
Titonea
Ike Clabaugh
George
Schuster
Aeee Beavers and
FAMIL
Modern Cleaners
Algona, Iowa
Intermill Store
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