Economic Stimulus Act of 2008
Business owners can elect to expense up to $250,000 of qualifying property (up to $800,000 in value) of depreciable assets put into service in 2008! Additionally, businesses are now allowed a 50% bonus depreciation on assets placed in service in 2008.
Alpacas are generally depreciated over five- years. Capital gains may be available on the sale of breeding animals and their off spring. Current expenses are deductible.
Depending on what state you live in, you may receive a significant reduction in your real estate taxes for farm or agricultural use.
Include the fact that Alpacas are 100% insurable, huggable, and very easy to care for, we can’t think of a better investment!
Whitestone Farm and its staff are not tax advisors. Please consult a tax advisor concerning your particular financial position.
