Tax planning important
BLOOMINGTON – We have seen one of the largest tax reform changes since 1986 and there are some benefits to farmers.
“I can’t stress enough how important it is for farmers to do tax planning,” said Jenner Ag Controller Melissa Kohler during last week’s Striving for Profit meeting in Bloomington.
Kohler suggests sitting down with an accountant and going over the tax laws. More write-offs will likely lead to more equipment purchases by the end of the year.
“I am expecting a lot more people to start purchasing equipment. They will tend to write-off more of that higher dollar amount.”