Posted 10/19/2021 14:17 (#9277025 - in reply to #9276104) Subject: RE: Tax planning Illinois
Mazon, IL
Shares makes the income subject to SS tax since it is now “earned” income (materially participated in farm).
I think a work around would be to open an IRA in my wife’s name and deposit into that since she still is working part time. Rental income can be reduced with depreciation since I just paid a pile of money to get it tiled last winter.
Tax planning Illinois
