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| Is that a true statement? I may not have a tax problem next year. I may have a low income year and there may be no way at all for me to get into a situation where I would have to pay those income taxes that I'm avoiding this year. In my opinion, that's the most of the point of deferring taxes over and over. Farming is bound to be lean from time to time and you can bleed those income taxes off through a lower tax bracket during lean years. Another good reason is if you have the choice to pay a tax now or later, it's always better to pay it later because that money can work for you in the meantime.
With all of that being said, I have never had to buy something just to save taxes yet. Usually there are plenty of things I actually need that I can do instead.
Coup, can you get triple stack for the prices you're talking about?
We take a big gamble growing dryland beans here so we're pretty much wheat/corn/milo. I struggle with the lack of profitability associated with milo and wheat is worse so we end up with a LOT of corn on corn. GMO is concerning for me in that scenario. | |
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Ag. input suppliers attitudes.
