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What the heck is Depreciation?

by Randy Shannon

As tax time draws ever nearer, most of us have spent some hours putting together our receipts, forms, and end of year statements to prepare for Uncle Sam's yearly deadline in April.

In the business of farming, that also means dealing with the depreciation of your equipment. Jody Padgham, Editor of Fearless Farm Finances, has written a fairly comprehensive article on what depreciation is, how it's calculated and what it means to you.

One thing I learned: The average piece of farm equipment is scheduled to last for 7 years. But your equipment could be worth much more.

Read the full article HERE .