Record Prices mean higher taxes

How can you reduce yours?

Traditional Tax Sheltering Strategies Used by Farmers

Sell your grain to the elevator, but wait to take your check until next year.

Risks: If your buyer goes broke you lose your investment

Store your grain this year, and wait to sell it.

Risks: Grain goes out of condition, pests reduce volume, and prices can fall

Buy more equipment with your profits, and write off the cost.

Risks: Buying extra equipment you don’t need

Here’s another idea: A retirement plan that reduces current income taxes and you still have the money.

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