Pittsburg, Kansas | I got hit with the higher deduction from my SS check for my part B that we have to pay regardless. Upon retirement sold about half of my machinery by advertising (some here on AgTalk) in the fall so that years income was through the roof and the next spring had an auction to clean up the rest and miscellaneous so the next year was also high. Now the nephews have been raising outstanding crops so while the last couple years have not been too bad tax wise I am getting backed up with carryover grain each year. Back in the old days when actively farming there was always a tax deductible outlet for excess cash. Always "needed" a new tractor or combine or something. Now most of my toys are non deductible.
I know everyone is going to feel "really, really, sorry for me". LOL I guess these new problems are not so bad.
I loved farming for more than 50 years. Now I am loving retirement!
Edited by John Burns 10/9/2024 10:30
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