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North of London | My wife had to talk to our accountant today about her financials.
Accountant soon started talking about his farm clients and wonders if I was positioned for end of year.
He said he has a continuing line of farmer clients to see him about what to spend all their money on so they do not have to pay income tax.
Said he has one client that is years ahead of income with expenses.
I have always had him position me so I paid some tax but stayed out of the high brackets so he said that would help me since I did not have so much pushed ahead already.
When she told him I had tiled 18 hectares he said good for him that will make it easy to position the books.
Good crops for most and good prices have given many crop growers in Ontario a good income the last couple years.
Some have no idea what to do with it.
Hard to spend it on yourself if you do not pay tax on some of it.
There is a time to reinvest in the farm and a time to take a little out too. | |
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Farm economy
