Worst would be a large new piece of equipment you DON'T need! I have seen a lot of guys do this just to be trying to sell a $200,000 loader or dozer the next year. Equipment you need is a good idea. As a loan officer/financial planner for farmers buying equipment to skip out on taxes is always a bad idea in my mind. Prepaying next years expenses is always the best choice. You never know what next year will bring and likely, costs are not going to go down SO much that you will be kicking yourself for prepaying. Most places offer a discount for prepaying and if you have a bad year you are not left with bills or no money to start the next year with. Paying taxes is not the worst thing that can happen. It sucks, wish they were not so high, but you can only find a way around it for so long before it will catch up to you.
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Today's Featured Article - Box Plow Blues - by Tom Schwarz. One of the first implements most tractor owners obtain is the box plow. For very little money, this piece of equipment promises to plow and flatten any hill or vale on your ranch road or farm. At least that's what I thought! As simple as a box plow appears, it can be rather challenging to make work correctly. In our sandy soils of Florida, traction is king. You can never have wide enough tires or heavy enough weights to get all the traction you want … unless you own a monster tractor. U
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