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The Water Cooler
General Discussion
Tax write offs do they amount to anything substantial??
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<blockquote data-quote="TinkerTanker" data-source="post: 3955804" data-attributes="member: 50228"><p>This is still the case. You can sell them as "broken" and collect a cheaper bill, but you have to have the deductions to offset that bill. Most farmers don't have 5 million + in deductions, even from farm losses, waiting on the sidelines or carryovers. </p><p>The sad fact is that the ONLY reason they don't have that 5 mil in deductions is because taxes are complicated and no one is walking them through it. I'll die on that hill. Taxes should be simplified. </p><p></p><p>"How much did you make?" </p><p>"Now times that by 0.15"</p><p>"Enclose check"</p></blockquote><p></p>
[QUOTE="TinkerTanker, post: 3955804, member: 50228"] This is still the case. You can sell them as "broken" and collect a cheaper bill, but you have to have the deductions to offset that bill. Most farmers don't have 5 million + in deductions, even from farm losses, waiting on the sidelines or carryovers. The sad fact is that the ONLY reason they don't have that 5 mil in deductions is because taxes are complicated and no one is walking them through it. I'll die on that hill. Taxes should be simplified. "How much did you make?" "Now times that by 0.15" "Enclose check" [/QUOTE]
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Tax write offs do they amount to anything substantial??
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