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Depreciation

Depreciation. Chapter 6 pp. 150-159. Economic Depreciation. The decline over time in the potential usefulness (or value) of capital assets having limited life, which decline results from ordinary wear and tear, natural deterioration from exposure to the elements, and technical obsolescence.

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Taxes

Taxes. Ag Management Chapter 9. Objectives. State the importance of income tax planning. Describe what is necessary to be considered a farmer or rancher. Discuss how long to keep income tax records. State the steps to use when determining income tax strategies.

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Net farm profit - PowerPoint PPT Presentation

Depreciation

Taxes