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EC Mo | Has anybody but me stopped to think how much farmers could be losing in income this year if this deduction gets fixed like it should and probably will? Not only the expense of setting up a coop in some cases but what about everyone paying the coop 2 cents or whatever the charge might be to sell through them.If you sell 200000 bushel at a charge of .02 and you deliver it the same elevator by selling through the coop instead of direct you have cost yourself $4000 just because there is a possibility of saving some taxes. I think anyone changing their business plan based on this deduction saving them tax money will most likely find out the money they save on taxes will be from the lost income from selling through the coop. I think in this instance the phrase "If something sounds too good to be true it probably is" comes to mind. Pretty entertaining reading how farmers are all losing money yet when a tax deduction is mentioned everyone is running around like a chicken with their head cut off trying to save on taxes. | |
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199A
