The Willamette Alpaca Breeders Association invited me to join them for their meeting on February 12th to discuss the current tax laws and the impact the economy has on the alpaca industry. As part of that invitation, Maren Anderson from Evergreen Terrace Farms interviewed me for their on-line series Paca Talk. The link to that interview is below.
http://www.pacatalk.com/2009/02/paca-talk-6-peggy-stevens-interview/
Between traveling and getting sick, this is the first chance I have had to share this interview with you. We would also like to thank Maren and WABA for their kind invitation.
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3 comments:
Hi Peggy!
You are more than welcome. Just to clarify, the podcast is called "Paca Talk." It is available via the website www.pacatalk.com or iTunes--just search for "alpaca podcast."
You were a fun interview! Thanks!
Maren Anderson
Evergreen Terrace Farms
Co-host of Paca Talk
is land purchase tax deductible
HI Anonymous, the simple answer to your land purchase question is NO. If you were to look at IRS Publication 946, page 6, you would find the following:
You cannot depreciate the cost of land because land does not wear out, become obsolete, or get used up. The cost of land generally includes the cost of clearing, grading, planting, and landscaping. Although you cannot depreciate land, you can depreciate certain land preparation costs, such as landscaping costs, incurred in preparing land for business use. These costs must be so closely associated with other depreciable property that you can determine a life for them along with the life of the associated property.
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