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Farming and Taxes
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<blockquote data-quote="TexasBred" data-source="post: 1239882" data-attributes="member: 6897"><p>Jabes we all should take advantage of every deduction we can qualify for. That is why they are allowed and I'm sure everyone does. The question is whether or not it is wise to spend a goodly amount of money on something you do need in order to save on your taxes. The system is set up to get the tax money eventually. Maybe not this year or next year but maybe just a little over the next 10 years...they will get it. You can send it overseas but then be prepared to move over there where it is an live there to spend and enjoy it. Always take every deduction the law allows but do not ever fail to report income. That is tax evasion and you'll end up spending all that "saved" money on attorneys and still have a long vacation in prison. </p><p></p><p>AS for your comments about our government wasting money etc.....very very true and when it's all gone they only have two sources.....get more of your money or issue treasury bills which are secured by your money and sell them to a foreign country. It does all carry a certain odor. :nod:</p></blockquote><p></p>
[QUOTE="TexasBred, post: 1239882, member: 6897"] Jabes we all should take advantage of every deduction we can qualify for. That is why they are allowed and I'm sure everyone does. The question is whether or not it is wise to spend a goodly amount of money on something you do need in order to save on your taxes. The system is set up to get the tax money eventually. Maybe not this year or next year but maybe just a little over the next 10 years...they will get it. You can send it overseas but then be prepared to move over there where it is an live there to spend and enjoy it. Always take every deduction the law allows but do not ever fail to report income. That is tax evasion and you'll end up spending all that "saved" money on attorneys and still have a long vacation in prison. AS for your comments about our government wasting money etc.....very very true and when it's all gone they only have two sources.....get more of your money or issue treasury bills which are secured by your money and sell them to a foreign country. It does all carry a certain odor. :nod: [/QUOTE]
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