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South West MN | Amazon post below has people saying paying income tax is bad tax management. I disagree.
Do you really need new paint?
I have seen lots of new paint show up in December so people don’t have to pay taxes. If you absolutely need it fine, buy it, but salesmen have told me December paint is most expensive. They know you are running out of time to get the purchase made. Bought a payloader in October, had been making offers on this model for 8 months.
75% of my equipment is bought at auctions, so I buy when it is for sale.
Why do you farm?
I farm to make money so I can buy land. Land is bought with post tax dollars. If I buy stuff and kick the can down the road forever I won’t have any money to buy land.
How much does your income vary from year to year?
Mine is pretty close to the same. Prepay or defer income to maximize tax brackets.
If you want to buy land you have to pay taxes as far as I know.
My 2 cents. | |
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Do you pay income taxes?
