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The Water Cooler
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Better hope for some changes.
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<blockquote data-quote="farmerbyron" data-source="post: 2373218" data-attributes="member: 4953"><p>Might be a bit confusing but as it was explained to me, in 2013 you can deduct up to $500,000 of capital expenses when you purchase something for your business but that limit will be reduced to a $25,000 total deduction for 2014. For businesses, this will severely limit the amount of equipment you purchase because if you cannot realize the expenses to offset your tax bill, you will have to save that money to pay the tax man a huge cut. The result is less reinvestment into businesses and an overall contraction of business activity. </p><p></p><p>Just think how this will effect companies like John Deere, Caterpillar, Case IH, Peterbuilt, etc. that rely on business reinvestment for the vast majority of their sales. If a business is not allowed to deduct these expenses, they will simply be purchases not made. </p><p></p><p>IMO, this is what happens when you let bureaucrats that have never spent a day in the private sector make tax policy. If this rule goes unchanged, it would probably be a good idea to short the market, especially on those companies that rely on business reinvestment for their bottom line. Bunch of friggin idiots at the helm of this country. <img src="/images/smilies/nonono2.gif" class="smilie" loading="lazy" alt=":nono2:" title="Nonono2 :nono2:" data-shortname=":nono2:" /></p><p></p><p></p><p><a href="http://www.businessnewsdaily.com/5476-section-179.html" target="_blank">http://www.businessnewsdaily.com/5476-section-179.html</a></p></blockquote><p></p>
[QUOTE="farmerbyron, post: 2373218, member: 4953"] Might be a bit confusing but as it was explained to me, in 2013 you can deduct up to $500,000 of capital expenses when you purchase something for your business but that limit will be reduced to a $25,000 total deduction for 2014. For businesses, this will severely limit the amount of equipment you purchase because if you cannot realize the expenses to offset your tax bill, you will have to save that money to pay the tax man a huge cut. The result is less reinvestment into businesses and an overall contraction of business activity. Just think how this will effect companies like John Deere, Caterpillar, Case IH, Peterbuilt, etc. that rely on business reinvestment for the vast majority of their sales. If a business is not allowed to deduct these expenses, they will simply be purchases not made. IMO, this is what happens when you let bureaucrats that have never spent a day in the private sector make tax policy. If this rule goes unchanged, it would probably be a good idea to short the market, especially on those companies that rely on business reinvestment for their bottom line. Bunch of friggin idiots at the helm of this country. :nono2: [URL="http://www.businessnewsdaily.com/5476-section-179.html"]http://www.businessnewsdaily.com/5476-section-179.html[/URL] [/QUOTE]
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