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southern MN | Good on you!
Tile and fertility investments, paid with cash not loans, back in the good years of 6+ dollar corn were good investments and lowered taxes way down. Still have residual modest deductions for more years to come.
In theory should place me in a higher income for decades and be causing more taxes, tho waiting for some better weather for that part to show up! :) kinda just broke even with the wetter weather we have been having. Clearly helping my bottom line, but not the big boom of income yet until the weather dries up some, tile can only do so much.
As to taxes I try to balance purchases with income by buying before or after January 1st depending on gross sales in the calendar year, can generally average the taxes down a bracket and don’t see where I’m building up a big can of worms for the future. I don’t like to pay for short or mid term stuff by borrowing money, maybe that is where I work out ok. My machinery is sure tired tho....
My dairy neighbor says he hasn’t had any problems with taxes in a number of years.....
Paul | |
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