Sunday, June 26, 2016
1012 C Street  •  Floresville, TX 78114  •  Phone: 830-216-4519  •  Fax: 830-393-3219  • 

WCN Site Search


Preview the Paper Preview the Paper

Preview this week's Paper
A limited number of pages are displayed in this preview.
Preview this Week’s Issue ›
Subscribe Today ›

Lost & Found


VideoLost: Lab/Pit, missing evening of Mon., June 6, between 5-8 p.m., from Shannon Ridge Subdivision, Floresville, his name is Buster. Call 210-331-8966 if found.

VideoFound: Great Pyrenees on CR 124, June 5, young male, not neutered, red banded collar, no tag, black spot on tip of tongue, cannot keep. 830-216-2380.

VideoLost: Yellow Maine Coon named Felix, missing since May 22 from F.M. 536, Floresville. Call if found, 210-365-6305.
More Lost & Found ads ›

Help Wanted

Chemical treater truck operator wanted, 2 years experience minimum, must have DOT Class A CDL with hazmat and tanker endorsement. Leave a message at 210-259-7646.
Maverick Grill is hiring wait staff, bus staff, line cook, and dishwasher. Apply in person Mon.-Fri. between 2-5 p.m., 6671 U.S. Hwy. 181 North, Floresville. 830-216-2712.
More Help Wanted ads ›

Featured Videos





Video Vault ›
You’ve been granted free access to this subscribers only article.

Agriculture Today


Stallman calls for tax extensions, changes




E-Mail this Story to a Friend
Print this Story
April 23, 2014 | 5,305 views | Post a comment

Farmers and ranchers need tax certainty to thrive in a modern economy, and making permanent deductions that expired in 2013 is a good first step, the American Farm Bureau Federation told the House Ways and Means Committee April 8.

“One of the major goals of tax reform should be to provide stable, predictable rules for businesses so that they can grow and create jobs,” American Farm Bureau President Bob Stallman said in an April 8 press release. “Farm Bureau believes that Congress should end its practice of extending important business tax provisions for one or two years at a time. This practice makes it very difficult for farmers and ranchers to plan and adds immense confusion and complexity.”

Stallman addressed the committee as part of a hearing addressing the economic disruption caused by the end of a series of tax deductions over the past several years. Committee Chairman Dave Camp, R-Mich., recently introduced a discussion draft of the Tax Reform Act of 2014 in an effort to stimulate discussion of how the tax code could be simpler and fairer, while at the same time aiding economic growth, job creation, and wages.

In written testimony submitted to the committee, Stallman called for extensions of several now-expired deductions to benefit the economy as a whole, including:

•Section 179 expensing, which allows small businesses to write off immediately capital investments of as much as $500,000 instead of depreciating them over several years;

•Bonus depreciation, which is an additional 50 percent bonus depreciation for the purchase of new capital assets, including agricultural equipment;

•Cellulosic Biofuel Producer Tax Credit: a $1.01 per gallon income tax credit for cellulosic biofuel sold for fuel plus an additional first-year, 50-percent bonus depreciation for cellulosic biofuel production facilities;

•A $1 per gallon tax credit for production of biodiesel and renewable diesel fuels;

•The Community and Distributed Wind Investment Tax Credit, which gives the option to take an investment tax credit in lieu of the Production Tax Credit and

•A provision encouraging donations of conservations casements.

Stallman reiterated the importance of Section 179’s immediate expensing to farming. “Farming and ranching is a capital intensive business,” he said. “In order to remain profitable and be competitive, farm equipment, buildings, and storage facilities must be continually upgraded and replaced. This provision allows agricultural producers to reduce maintenance costs, take advantage of labor-saving advances, become more energy efficient, and adopt technology that is environmentally friendly.

“Smart business planning that anticipates and budgets for annual capital improvements proves challenging for farmers and ranchers because they operate on tight profit margins. The immediate expensing provided by Section 179 allows farmers and ranchers to cash flow purchases that otherwise might be delayed or incur debt expense that impact profitability.”
 

Your Opinions and Comments


Be the first to comment on this story!


You must be logged in to post a comment.




Not a subscriber?
Subscriber, but no password?
Forgot password?

Agriculture Today Archives


Full article available to Wilson County News subscribers only. Click here to subscribe. County committee nomination period begins (June 22, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Hartmann takes the steer by the horns to win state championship (June 22, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. La Vernia FFA wraps up school year with honors, scholarships (June 22, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Livestock Market Reports (June 22, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Root rot knocks out roses (June 22, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. TDA Market Recap (June 22, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Texas Hay Report (June 22, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. A student’s ag-related journey (June 15, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Family Land Heritage news (June 15, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Five dirty truths on agriculture (June 15, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Horseherb galloping through yards (June 15, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Kristin Storey: South Texas queen to compete for national title (June 15, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Livestock Market Reports (June 15, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Miller announces assistance for farmers devastated by floods (June 15, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. No “rain, rain, go away” as precipitation persists (June 15, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Schwartz takes lead as Texas state veterinarian (June 15, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. TDA Market Recap (June 15, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Texas Hay Report (June 15, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Texas Rural Leadership Program (June 15, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. It’s almost rodeo time in Stockdale (June 8, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Livestock Market Reports (June 8, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Save seed pods for next fall (June 8, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. TDA Market Recap (June 8, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Texas Hay Report (June 8, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Big Time Texas Hunts entries now on sale (June 1, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Burbridge leads the way in Buck Taylor roping event (June 1, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Farm Bureau solicits AgLead, FarmLead participants (June 1, 2016)
June 2016 Gardening Calendar (June 1, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Livestock Market Reports (June 1, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Save squash from vine borers (June 1, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. State Farm Bureau testifies on agricultural use valuation (June 1, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. TDA Market Recap (June 1, 2016)
Full article available to Wilson County News subscribers only. Click here to subscribe. Texas Hay Report (June 1, 2016)
Coupons ag-right
Triple R DC ExpertsHeavenly Touch homeVoncille Bielefeld homeAllstate & McBride Realty

  Copyright © 2007-2016 Wilson County News. All rights reserved. Web development by Drewa Designs.