Determining whether to buy or lease farm equipment is a big decision for many producers.
There are some tax and non-tax factors that producers should consider before making that decision.
Roger McEowen with the Washburn School of Law spoke with RFD-TV’s own Suzanne Alexander about the benefits of leasing, tax planning considerations, and advice for producers.
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Understanding how these tax provisions interact will be key for farmers planning long-term equipment purchases or transfers within the family.