Maybe you’ve been thinking about moving to a new electric drive planter. Maybe you’ve considered upgrading to a planter built to handle no-till conditions. Maybe you want the flexibility of a planter that can plant 30-inch corn and 15-inch beans. If buying a new Kinze planter or grain cart has been on your list of year-end to-dos, now is definitely the time!
Section 179 deductions, just passed by Congress as part of the recent Omnibus budget bill, allow farmers to deduct up to $500,000 on the purchase of capital expenses (like a new Kinze planter or grain cart). Previously, the deduction limit was only $25,000, so this is an opportunity to enjoy significant tax savings AND a great new piece of Kinze equipment.*
Combine the Section 179 tax benefit with the Kinze Year-End Savings Event – which ends on December 31, 2015 - and there has never been a better time to buy a new Kinze planter or grain cart.
The catch? Nothing! Just make sure to visit with your Kinze dealer before 12/31 – when both the 2015 tax deductions and Kinze Year-End Savings Event end. And by stopping in sooner rather than later, you’ll guarantee yourself the best selection of equipment on your dealer’s lot.
*Note: This information should not be considered tax or legal advice. Contact the IRS or your tax advisor for additional details.