Reduce your taxable income when you buy before December 31!
Thanks to an increase in the deduction limit under Section 179 of the Internal Revenue Code, you may be able to reduce your taxable income even more in 2021. This year the deduction limit has been increased to cover the full cost of qualifying new and used equipment purchased and placed into service in 2021, up to $1,050,000. The deduction is reduced “dollar-for-dollar” to the extent that qualifying new and used equipment of $2,620,000 or more is purchased and placed into service and is completely phased out if $3,670,000 or more is purchased and placed into service.
In order to print the financials, do the following in Intellidealer:
1. Go to Financial Management -> General Ledger -> Financial Reporting on the Intellidealer menu:
2. Click on the Summarized Financials link from the page menu.
3. Enter in the desired date you want to see the financials for, and then click continue to send them to the printer you have selected (click the magnifying glass to see the printer list of options if you aren’t sure or wish to change the printer set by default):
4. If you would rather get a PDF of the reports and not a physical printout, select the PDF option and then click the Continue button:
5. To view the PDFs, go to the printer icon at the top right corner of the screen and select the PDF Viewer:
6. A popup will appear showing the PDFs available. There are 8 different PDFs that get generated with the Summarized Financials – 6 Summarized Financials, an Error Listing Summary For Financial Reports, and a Journal Listing. The 6 Summarized Financials are the only ones that are significant. You can click on each report link to view each of the 6 pages from here:
New Holland Agriculture is driving forward its Clean Energy Leader strategy, consolidating its leadership in alternative fuels and extending its scope with innovative solutions in the Specialty sector.
Carlo Lambro, New Holland Brand President, stated: “We have pioneered sustainable, innovative solutions for some 14 years. We developed the Energy-Independent Farm model, showing how a closed-loop between agricultural production and energy generation can make farming CO2-neutral, or even carbon negative – with significant benefits for our customers. This year we are taking a further step into turning this into a reality, as our methane-powered tractor enters the New Holland range.”
Methane-powered Tractor to Enter New Holland Range in 2021
The first production unit of the T6 Methane Power tractor, a cornerstone of New Holland’s Energy Independent Farm concept, was presented at the Agritechnica show in 2019 and now targets full commercial availability in 2021. Field trials are in the final stages and by the first half of the year production units will be delivered to selected customers in Germany, France, Italy, the UK and the Benelux – all key markets for the T6 tractor where biogas production is advanced. The Methane-powered tractor will enter the New Holland range by the end of the year, and be available to all customers in Europe and other markets across the world. This development will further consolidate New Holland’s undisputed competitive edge in alternative fuels solutions.
Clean Energy Leader Strategy Extends Scope with New Partnerships
The Clean Energy Leader continues to extend its scope to explore new areas of innovation through partnerships. The first one is with Italian Barolo wine producer Fontanafredda, in a project that aims to achieve carbon-free vineyard operations. New Holland and FPT Industrial are testing in their vineyards a new bio-methane tractor derived from a standard New Holland TK model. It is powered by the new FPT Industrial F28 engine, crowned Diesel of the Year in 2020. The tractor tested in the Fontanafredda vineyards is powered on bio-methane, with the aim of accomplishing the first CO2-free wine production – an important step towards the decarbonization of the grape growing chain.
In another partnership, New Holland has developed with Italian implements producer Nobili an innovative concept for the electrification of implements for vineyards and orchards. It combines the New Holland T4.110V with an e-Source external generator compliant with AEF High Voltage guidelines. In an industry first, the generator driven by the tractor’s PTO is the only source of energy powering the new e-Sprayer and e-Mulcher. This groundbreaking innovation was recognised with the Technical Innovation 2020/21 Award at EIMA International.
As the COVID-19 Coronavirus continues to affect our communities, we are being proactive to help ease your minds while meeting your needs. But first, a few friendly reminders –
• We plan to continue meeting your needs to the best of our abilities at this time. We will be here for you to help you continue your daily operations unless otherwise mandated by state or local laws. At this time, the state of Indiana has deemed Agriculture as an essential business.
• Stay Positive! If we work together (but at a socially safe distance) and stay positive, we will have a bright and exciting spring ahead of us!
• We’re happy to provide social distancing & fresh air! We are delighted to serve you wherever makes you comfortable. To that end, we are utilizing: o Curbside service upon request o Email o Text Messages o Telephone o Online chat on our website o In person in our safe and clean space
In addition to positivity, here are the solutions we’re offering to better serve you at this time:
Need Parts? • We now offer Curbside Pick-up! Please call ahead of time to place your order and pay with a credit card over the phone. You can still enter the building for parts, we just ask that you practice social distancing while in-store.
• Need a Parts-Diagram? Give us a call, and we’ll be happy to email it to you for reference. You can also view many parts diagrams online from our website and chat with us while on the site!
Need Service? • Picking up or dropping off your equipment? We’re happy to take credit card payments over the phone to reduce social interaction. Please call ahead of time before you plan to arrive so we can accept payment and have your equipment ready for pick-up.
Want to Chat with Sales (at a safe distance)? • We’re happy to accommodate your needs! Let’s take the sales outside for fresh air and open space, or we can chat with you over the phone, email, or even text!
• Still want to test drive that tractor? You’re more than welcome to, with our sales team a safe distance away and in a welcoming and open-air environment. And we’ll make sure to sanitize the unit before and after your test-drive.
Company Measures to Ensure Everyone’s Safety: • We are regularly cleaning and sanitizing all high traffic areas. • We are encouraging employees to stay home for any sign of sickness — yes, even the slightest sniffle.
Building upon the legendary field performance of the Excelerator 8005, the new Kuhn Krause Excelerator XT 8010 continues to offer customers a 1 to 5 degree gang angle adjustment for proven VT performance with an XTended gang angle adjustment of 6 to 8 degrees for a more aggressive tillage action.
Unlike some competitors, the Excelerator XT 8010 design avoids double-digit disc gang angles and shallow concavity disc blades, which can create a less than ideal VT seedbed. Kuhn designed the Excelerator XT 8010 to maintain a superior vertical tillage seedbed, leveling capabilities, speed of operation, uniform residue distribution, plus a consistent pass-to-pass finish. Sizes offered include 30, 34 and 40-foot cut widths.
Product Features
Excelerator XT 8010 Gang Angles: adjust from 1-5 degrees for true vertical tillage while an XTended range of 6-8 degrees results in more aggressive action.
Combination Blade Spacing: provides optimal soil displacement and residue sizing from the 7″ front spacing while maintaining reliable soil and residue flow with 8″ rear.
Mid-Mount Tines: a single row of HD 5/8″ x 27″ x 7″ tines redistribute residue concentrations, provide initial clod sizing and begin the leveling process ahead of the rear Excalibur VT gangs.
New Frame Design: incorporates dual cylinders on each wing section to relieve undue stress on the frame and application of uniform constant-flow hydraulic wing down-pressure.
Optional Hydraulic Gang Adjustment: provides in-cab gang adjustment performed on the go from the tractor cab. Vary gang angles independently front to rear or together.
Excalibur VT Blades: Kuhn’s 32 flute, 22″ hybrid blade design, continues to offer exceptional wear life and ability to retain a cutting edge as it wears.
Star Wheel Treader: rear finishing attachment remains as a premier attachment that has been tough for the competition to emulate. Superior leveling, residue incorporation and clod sizing.
Contact us anytime for more information regarding the new Kuhn Krause Excelerator XT8010!
Have you considered leasing a tractor for your operation but are on the fence about it? There are several factors to consider when deciding whether it makes more sense to lease vs. purchasing tractors for your farm operation:
Leasing vs. Owning a Tractor
Leases can offer nice cash flows to have a fixed cost to operate equipment. Does not show up as a liability on the balance sheet, and puts a value on it at the end of lease.
Lease payments are an “expense” vs. owning and depreciating the whole value of the equipment. Check with your accountant to see which is better for you.
Not all leases are equal. There might be 2 identical tractors, one having a lower payment, BUT the purchase option at lease end could be much higher. So be sure to look at the “big picture” and not just the payment amount.
Leases still require customers to cover equipment with insurance, similar to owning the equipment.
Lease companies will also charge the customer Property Tax, similar to owning the equipment. This could also just be built into the lease, so be sure to ask and compare.
Tax tip – if you are quoting a lease and can have it end / returned by December 31st instead of early the next year, you will likely avoid property taxes on it for the next year. Check with your county for property tax dates to be taxed.
Questions to Ask when Leasing Tractors
What happens at the end of the lease? Are you obligated to purchase the equipment at the end, or do you have the ability to return it? Does the purchase price at the lease end look attractive today? If you do return it, what are you liable for?
What all is included with the lease? If the lease is a tractor with guidance on it, does it come with any subscriptions on it? If you want to upgrade it to an RTK network, how does that factor in?
What is the warranty coverage? If something breaks, you need to know who is responsible for payment. If you are leasing a new unit, it will usually come with new factory warranty, but that may not last through the duration of the lease. Consider extended warranty coverage options if offered.
If you have any questions regarding leases, or are interested in leasing equipment for your business, please contact us. Leasing can be a great option for you. Please consider everything mentioned here, and not just the cheapest payment you can get up front.
We held a Field Day 2019 event in Fulton County, Indiana on July 31st, 2019. The event drew over 300 people and was held for customers to demo the tractors and tillage tools on display. See the YouTube playlist video below to see each demo:
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