I agree with much of what you have said. Naturally if a farm gross sales are a half million there is the expectation that there could be some profit margin. And as with any business, having the ability to write off the cost of capital purchase, like a new tractor, will allow the business owners to shelter/defer some of the taxable income from the margin of profit. In other words, why freeze your backside on an open tractor to save money, just to watch the income tax man take it from you? If your making money, you only get to keep the crumbs anyway, we all have to share our income with the tax man. He won’t freeze his backside to help you, lol
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Today's Featured Article - A Belt Pulley? Really Doing Something? - by Chris Pratt. Belt Pulleys! Most of us conjure up a picture of a massive thresher with a wide belt lazily arching to a tractor 35 feet away throwing a cloud of dust, straw and grain, and while nostalgic, not too practical a method of using our tractors. While this may have been the bread and butter of the belt work in the past (since this is what made the money on many farms), the smaller tasks may have been and still can be its real claim to fame. The thresher would bring in the harvest (and income) once a y
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