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DaveVictor - Ex-IDOT boss blames gov\'s office for majority of improper hires - Quincy, IL News - QuincyJournal.c
Does the former City of Quincy engineer Jeff Steinkamp's name appear anywhere in this report? He ended up landing on his feet with a sweet IDOT ghost job after he got canned.
GoQuincy - City of Quincy looking to buy new garbage and recycle fleet - Quincy, IL News - QuincyJournal.com
They did follow the citizenry, few that they were. The aldermen buckled for fear of not getting reelected and missing their pay as aldermen, healthcare etc.!
Quincyan2 - QND sees slight enrollment dip - Quincy, IL News - QuincyJournal.com
What's your point? QND is not for everyone, and everyone knows that. QND is not equipped to give every young person an education. The public schools are more capable of providing special education programs and also for providing AP courses for superb students. But for those that choose QND, the rewards last a lifetime and immeasurable. For the average or above average young person, QND provides…
Righty1 - City of Quincy looking to buy new garbage and recycle fleet - Quincy, IL News - QuincyJournal.com
Just checked my Constitution, nothing on garbage. You could also cancel your Quincy fire protection and contract with Tri-Township. Cancel your water and sewer then drill a well and add septic, put up a wind generator to bypass CIPS. However, all those are band by government who use their constitutional authority.
qfingers - City of Quincy looking to buy new garbage and recycle fleet - Quincy, IL News - QuincyJournal.com
I'm going to add....contact your alderman and the mayor if you want to see contracting out tried again rather than spending more money here. The city can absorb the initial cost of the totes for the contract which would reduce the cost put on the water bill. From that point on totes would be provided for free but there would be a replacement cost if you "lose" it. Then you substitute the revenue…

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Will Congress fix depreciation?

4 months ago from DTN AgDay

Anticipate that most of the items in the "tax extender" package will be renewed

QUESTION

What do you think the chances are for Congress to extend the 50% bonus depreciation another year? I am trying to make a decision on constructing a $100,000 machine shed. I am going to have a high-income year from liquidating a cow-calf herd, and the $50,000 deduction would be helpful. I need to move now on the machine shed decision and cannot wait for Congress on this for many more months. Or should I forego the needed shed to purchase other machinery that would be eligible to use against the Section 179 expected increase?

ANSWER

Your question is the classic illustration of how congressional inaction can paralyze business decisions. We are one-third of the way through 2014, and we still do not know what the depreciation rules are for this year's asset acquisitions!

We anticipate that most of the items in the "tax extender" package will be renewed. But these first-year depreciation deductions are less certain because they represent temporary incentives that Congress was using to spur a recessionary economy. Our expectation coming into 2014 was that Congress would finally let the 50% bonus expire, and scale back the first year Section 179 deduction to its pre-recession level. With inflation indexing, that would bring the Section 179 deduction to about $145,000. If this is the outcome in the tax legislation, there would be no 50% bonus for your new shed, and as a general-purpose building it is ineligible for Section 179. Your depreciation would be spread over a 20-year recovery period.

However, the Senate Finance Committee recently moved forward on renewing the 50% bonus for new assets for 2014 and the continuation of the $500,000 Section 179 deduction. But it's early in the process; this legislation hasn't yet moved to full Senate passage. And of course it also needs to pass the House, where spending concerns and the size of the deficit are occasionally acknowledged. So, long story short, it is probably a toss-up as to whether the 50% bonus gets renewed. I would be more optimistic about a larger Section 179 amount, as that deduction is only available to smaller businesses and does not have the budgetary cost of the 50% bonus deduction.

And finally, a business thought. Your question described the machine shed as a needed improvement. If so, you should put that improvement ahead of machinery acquisitions that might be more driven by their depreciation benefit. In the big picture, this is only about the timing of the deductions. You should really focus primarily on what is most important for the efficiency and growth of your business, with the taxes as a secondary aspect.


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