New tax laws are in effect that can benefit you.  The Jobs and Growth Tax Relief Reconciliation Act of 2003 allows farmers to take an additional first-year depreciation of 50 percent on capital investments made after May 5, 2003 and before January 1, 2005.  The bonus depreciation is allowed on new equipment purchases.  Also part of the new law, the Section 179 Expense Deduction cap has been increased from $25,000 to $100,000 for the 2003, 2004, and 2005 tax years, after which it will return to $25,000.  This allows people with a taxable income of at least $100,000 to deduct up to $100,000 of most new and used equipment up to $400,000.  As of this current date, we are unsure as to the continuance of certain sections of this act beyond January 2005, and how it may affect you, so contact your tax advisor before making decisions relating to this law.