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  Smith Mountain Lake Farm

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Film Location of Princess Cut 3 Movie

                                                                                        Alpacas Are A Safe Investment!

Note:  Keep in mind that alpacas are insurable.  This allows your investment to be secured for the full amount of your purchase!  Insurance of your herd allows your money to becomes a risk-free investment with the right coverage.

The 'Tax Relief Relief Act of 2010" and the "Jobs Act of 2010"

The "Tax Relief Act of 2010" and the "Jobs Act of 2010" changed Section 179 for the 2012 Tax Year - below is quoted from the link here: 

Capital gains can be available on the sale of breeding animals and their offspring. Current expenses are deductible.

Sep 4, 2012 Important tax planning implications updated for the 2012 tax year have been posted to this site.

Both the 'Tax Relief Act of 2010' as well as the 'Jobs Act of 2010' that passed in late 2010 affected Section 179 in a positive way for this 2012 tax year. Following are the highlights for the 2012 tax year:

2012 Deduction Limit = $139,000
Section 179 Deduction limit after adjustment for inflation has increased to $139,000 (maximum allowance would have been only $25,000 prior to the new legislation).

2012 Limit on Capital Purchases = $560,000
Section 179 Threshold for total of equipment & software that can be purchased has increased to $560,000 (threshold would have been only $200,000 prior to the new legislation).

2012 Bonus Depreciation = 50%
The new law allows 50% “Bonus Depreciation” on qualified assets placed in service during 2012

Please Note:

Section 179 Deduction is available for most new and used capital equipment, and also includes certain software.

Bonus Depreciation can be taken on new equipment only (no used equipment, no software)

When applying these provisions, Section 179 is generally taken first, followed by Bonus Depreciation – unless the business has no taxable profit in 2012.

Disclaimer: This is information only, not tax advice. Please check with your accountant or a tax advisor who is familiar with breeding livestock and farming issues for a professional definition of the Jobs and Growth Tax Relief Reconciliation Act of 2003 and how these new developments will affect your particular situation.