Tax Management Versus Tax Avoidance

It’s the end of the year and the farm belt has made money. That means farmers will be at the implement dealer's counter, checkbook in hand, ready to get money off their books, right? Well, maybe, but not for Lee Lubbers. Mr. Lubbers shares tax strategy and how Lubbers Farms goes about making machinery and tax decisions on their operation. They don’t make any rash purchase decisions at new year’s time or solely based on the prior year’s profitability. The biggest tax management decision the Lubbers employ: they invite their lender into the tax planning meeting with their CPA! Lots of good info you can apply to your farm business — whether it’s year end or not! Presented by Advanced Drainage Systems.