Managing for Profit

Congress also passed a tax bill last week

When Congress passed that omnibus budget bill last Friday, they also passed a tax bill. The Protecting Americans From Tax Hikes Act of 2015 made permanent a number of tax provisions which had expired including Section 179 depreciation, the Enhanced Child Tax Credit, the Enhanced American Opportunity Tax Credit and the Enhanced Earned Income Tax Credit. It also extended the 50 percent bonus depreciation through 2019.  Andy McCarty is a Tax Development Manager with Badgerland Financial in Wisconsin, he talks about what these changes mean for farmers.