As we enter a new year, we enter a new semester of school. 4 West is off to a great start this year with a fleet of new iron (tractors). In the new year we also enter a new tax year in the business world. Specifically agriculture businesses look to take advantage of new technology and money saving opportunities that occur when the business buys new equipment be it a tractor, combine, or other implement. Section 179 of the current tax code allows the business to write-off up $1,000,000 of equipment purchase expenses in the first year. This allows small businesses that qualify for this deduction to show a smaller net income for that tax year, thus reducing their taxable income. In 2017 alone, 220,546 tractors were purchased (source AEM) by agricultural businesses. Considering many new tractors retail for more than $400,000 it is good business sense to take advantage of money saving opportunities such as Section 179 of the tax code. Good luck to everyone this semester!