Tips to Buying a Small Tractor on Fastline.com

Are you in the market for a small tractor and not quite sure where to start? Let Fastline and our vast search options help you find the right one! First let’s start with the most important question – cab or no cab? Knowing whether you want air conditioning or want to brave the elements will help you get an idea of where to go. Next … Continue reading Tips to Buying a Small Tractor on Fastline.com

Is Section 179 At Risk?

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Earlier in the year, Senate had voted to restore Section 179 to a previous year’s high levels of $500,000 eligible to be written off from Farm Equipment expenses. It was restored to that a level from the expired amount of $25,000. However, the tax entender bill is at risk of being vetoed during the current lame duck session. What does this mean for Farmers and purchasers of Farm Equipment? The tax extenders package is a collection of provisions that are not permanent law and expired as of Dec. 31, 2013. If a retroactive extension isn’t passed, equipment cannot be written off for this past year’s purchases up to $500,000; it will go back to the $25,000 limit. Especially in this upcoming year-end when it’s typical for Farms to make equipment purchases, it’s important to watch this closely. If the president decides to veto the tax extender bill, there still is a chance for Congress to pass a one-year retroactive measure that would simply start the fighting all over again in January, when they control the Senate and their numbers are fortified in the House.

Other issues at risk that affect Farmers are a tax extenders package that includes extension of the $1 per gallon biodiesel tax credit and reinstatement of the expired 50% bonus depreciation for the purchase of new capital assets.

Why are these issues important to not just to Farmers and Agriculture but to the entire country and need to be watched closely? Continue reading “Is Section 179 At Risk?”

How to Decide Between Buying New or Used Equipment

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Recently, we discussed the difference in buying and leasing farm equipment and now we’re helping you decide between buying or leasing new or used Farm Equipment.

Buying new equipment can be quite different from used equipment – however they have many similarities as well. We discuss them both below.

Why buy New Equipment?

There are many reasons that when you are in the market for equipment, you should look to buying new equipment. Some of the reasons include:

  1. If you plan to keep the equipment for a long time (such as a tractor or sprayer) buying new equipment is usually the better route.
  2. If you plan to trade in yearly for the latest technology – for some, the latest technology is key. For those who value the high-tech stuff, buying new is the way to go. You’ll still get a good deal on the trade in and get the technology you seek.
  3. Less likelihood of a break down – In most cases, new equipment is more reliable than used equipment.
  4. Warranty covers maintenance – one of the good things about buying new equipment is that warranties will cover almost if not all of the maintenance costs that go along with the equipment. That alone is enough for some people to only buy new equipment.
  5. Special tax breaks and financing for Farmers – Section 179 is one the most known options for tax write-offs of farm equipment, but there are also many other financing and tax options that are offered to farmers buying new equipment.
  6. Downtime reduction – with a lower likelihood of breaking down and plus having maintenance covered in the warranties, downtime can be cut significantly.

Continue reading “How to Decide Between Buying New or Used Equipment”

Add this to your Equipment Search – Fastline’s Hot List!

                Have you heard the news? Fastline has a new option for your Equipment Search and it goes by the name of the Hot List! What’s special about this list you ask? Every piece listed here is atleast 15% off it’s listed price! That’s right – quality equipment for a discounted price! To find this list, go to … Continue reading Add this to your Equipment Search – Fastline’s Hot List!