sed - 10/22/2016 09:51

In the 80's farmers had trouble overcoming interest cost.........which is a tax deductible expense..........which kept income tax liabilities minimal

Today with declining farmland and machinery values, principal cost and income tax cost to produce after tax profit will provide EXTREME stress to farmers who have avoided tax at all cost

Now that harvest is nearing completion, been hearing a lot of banks wanting principal..........Whether it's operating loans, machinery loans or land loans

Farmers should look on bright side of things though, fed tax rate significally lower than in the 80's