Category: Tax

Livestock – Depreciate? Inventory? Sell?

Livestock held primarily for sale by for-profit farmers must be included in inventory. However, livestock held for draft, breeding, or dairy purposes can either be included in inventory or depreciated. Learn more.

Bonus Depreciation Changes Coming in 2023

TCJA allows 100 percent expensing of short-lived capital investments for 5 years, then a 20-percent phase-down schedule over the subsequent five. Learn more.