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Farming and Taxes
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<blockquote data-quote="Jabes0623" data-source="post: 1239904" data-attributes="member: 23051"><p>IMO if buying something you can at all justify will drop you into a lower tax bracket you should absolutely do it. </p><p></p><p>I'd much rather my "tax" $'s wind up in my local economy & on my land as equipment than in Pakistan where it'll be used by some tribal elder to fund his poppy farm instead of building a school with it like he's supposed to.</p><p></p><p>As far as your local tax wizard, I can't say as I don't know him. However what I can tell you is that it's your signature on that return & if something is afoul they're going to come looking for you & if fines or jail time is involved it's going to be you paying/serving them. So be very careful who you choose to work with. A good accountant is worth his/her weight in gold, & there's plenty of stand up people in the accounting profession who will save you $ legally. No amount of $ saved is worth doing 3-5 years in Federal prison for tax evasion.</p></blockquote><p></p>
[QUOTE="Jabes0623, post: 1239904, member: 23051"] IMO if buying something you can at all justify will drop you into a lower tax bracket you should absolutely do it. I'd much rather my "tax" $'s wind up in my local economy & on my land as equipment than in Pakistan where it'll be used by some tribal elder to fund his poppy farm instead of building a school with it like he's supposed to. As far as your local tax wizard, I can't say as I don't know him. However what I can tell you is that it's your signature on that return & if something is afoul they're going to come looking for you & if fines or jail time is involved it's going to be you paying/serving them. So be very careful who you choose to work with. A good accountant is worth his/her weight in gold, & there's plenty of stand up people in the accounting profession who will save you $ legally. No amount of $ saved is worth doing 3-5 years in Federal prison for tax evasion. [/QUOTE]
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