Buying a Farm – "Harvesting the Write-Offs"

Key Takeaways:

• Use Tax Tools to Improve Cash Flow: Section 179 and bonus depreciation allow farm investors to write off equipment costs right away. This can free up cash and support business growth.
• Know What You Can Depreciate: Land cannot be depreciated, but things like equipment and buildings (such as barns) can. Planning ahead helps you get the most tax benefit.
• Think Long Term With Depreciation: Tax strategies should match your long-term plans. Consider how selling assets later could affect your taxes.
• New Funding Opportunities Are Growing: Private lending is becoming more common again. This can create new ways for entrepreneurs to invest in areas like agriculture.
• Farming Adds Real Value: Owning and running a farm isn’t just about profit. It also supports food systems and contributes to the well-being of communities and the environment.

 

Chapters:

Timestamp Summary

 

0:00 Investing in Farms and Tax Benefits with Section 179

2:00 Leveraging Assets and Bitcoin for Wealth Management Opportunities

3:07 Tax Benefits and Equipment Needs for Small Farm Owners

4:45 Understanding Depreciation Benefits and Trade-Offs for Farmers

7:09 Understanding Depreciation Strategies in Farming Equipment and Livestock

9:26 The New American Dream: Owning a Business

10:05 Planning Long-Term Financial Strategies with Bonus Depreciation

 

Powered by ReiffMartin CPA and Stone Hill Wealth Management

 

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Phillip Washington, Jr. is a registered investment adviser. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and, unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Past performance is not indicative of future performance.