Tax Q&A: Depreciation, land rent and Social Security, owner-employee taxes

Mar 7, 2014
The disposition of the tractor would be treated as a sale at its market value. You would be considered to invest that same amount in the new machine shed. And assuming that 50 percent bonus depreciation on new assets is not renewed, the tax cost of the new machine shed would be spread over a long 20-year recovery period.

You must Sign In or Register to access this content

Not a subscriber yet? Try WLJ free for 30 days!

Register to read WLJ's digital edition and enjoy unlimited access to the news source more livestock producers depend on.

Click here to begin your free 30 day trial subscription.

Current Users

Forget your password?

Current WLJ subscribers: Log in using your six-digit customer number, which you will find printed above your name on the mailing label of your weekly journal. Use the password wlj123, then go to the profile page to customize your password and log in as you wish.