Have horses? Want to save money on your taxes? If you haven't ever heard of Section 179 and don't feel like reading all 1,071 pages of the Economic Stimulus Bill to find out just how much money the clause could let you save on taxes, then you might want to keep reading this article.

To avoid cutting a larger-than-necessary check to the IRS come April 15, ask your tax professional if you qualify for a Section 179 deduction. Two key phrases to mention: 1. Expensing Allowance, 2. Bonus Depreciation. Highly qualified CPAs handle taxes for a reason—they're highly complicated, which is why this article is not meant to explain the two aforementioned benefits, but rather bring an issue to light that you might want to look into before April 15 comes and goes.

When it comes to business asset purchases, including horses and farm equipment, Section 179 might let you save a substantial amount of money on your taxes under certain circumstances. Simply put, you could potentially write off a greater percentage of the total cost of qualified business asset purchases in 2009. There are more stipulations, caps, and circumstances than I would care to mention or you would care to read—ask your tax professional.