Section 179 deduction
nbsp; In 2003 alpaca tax benefits got a lot better due to the "Jobs and Growth Reconciliation Tax Act." which was enacted into law on May 28, 2003. The new rules added several powerful incentives for people who buy alpacas. The 179 deduction which is the cornerstone of this act has been raised to $108,000 for 2006. If you purchase any amount up to $108,000 before year end you can claim the entire purchase price as a 179 deduction on your 2006 taxes. This benefit expires in December 2009. Read more
Related links:
Alpaca Taxes 2007: Why Not Let Uncle Sam Help?