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Sell now...defer payment til Jan. Anyone gunshy of this approach?
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Thud
Posted 10/14/2020 20:09 (#8546138 - in reply to #8545796)
Subject: RE: Sell now...defer payment til Jan. Anyone gunshy of this approach?


Essex County, extreme SW Ontario,
/silly question.. here( in Ontario) we are allowed to make an "election" ,basically claim a portion ( you have to have the inventory to back it up ) of next years income this year. Could you do that? I mean sell the grain now, with january payment terms and then come tax time( if you so choose.. ) claim a portion of that january payment on this years taxes?
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