Depreciation: Recovering the Cost of Capital Assets on the Farm

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The North Carolina Cooperative Extension – Chatham County Center is conducting a Farm Tax Webinar on September 19 about depreciation and recovering the cost of capital assets. It has become evident from our past farm tax webinars that based on the number of questions we have received from farmers over the years, the topic of depreciation deserves its own webinar!
Target audience: farmers (vegetables & fruits, cut flowers, livestock, hemp, row crops, etc.), nursery growers, beekeepers.
Date: September 19, 2024
Time: 6:00-8:00 p.m. EST
Presenter: Guido van der Hoeven 

Farm businesses use assets such as equipment, machinery, buildings, and various classes of livestock to produce the wonderful products grown or raised. These business assets can be capital intensive regardless of business scale; thus owners and operators want to recover the cost of these assets in a manner which moves the business closer to its goals. This webinar will discuss the tax rules under which these assets are deducted from business income through depreciation. Businesses should consider the long-term as well as the short-term impacts of making a depreciation decision, as the rules provide a measure of flexibility in making such decisions.

Visit Cooperative Extension’s Growing Small Farms website for full details and a link to register.

Note: The webinar will be recorded but you must register to have access to the recording.

Debbie Roos

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