Fiscal Cliff
In planning our crops for next year, my wife and I are so concerned about this "Fiscal Cliff" impacting our farm stand, that we are planning on how many pumpkins and tomato plants to put in so we don't go over the $1 million dollar benchmark.
Are others having this problem?
Yeah, right!
Greg
Views: 39
Replies to This Discussion
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Permalink Reply by Paul Rusnak on -
A little fiscal levity on the Apocalypse. Nice!
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Permalink Reply by Matt on -
The $1 million dollar benchmark is for profits. Do you plan on having more than $1 million in NET income? If you do, I wish I was in your shoes.
I would be more worried about the fiscal cliff affecting your customers ability to BUY your product. If you rely mostly on consumer vs. corporate accounts then I would push hard to get as many people to pre-pay (CSA) for their produce.
Most of the fiscal cliff stuff is not going to affect a lot of people. What WILL affect people is the rolling back of tax credits to the pre-bush years. The marraige tax penalty will return. Who ever thought up the idea of not allowing married people to get the same credit as two single people? What kind of assinine policy is that?
It will also suck to have the farm ag equipment writeoff reduced to $50,000 from $250,000. That has to really hurt the equipment makers as farmers can no longer trade in the old combine for a new one if they have extra cash on the books that needs to be reduced. The government wants to take it instead of putting it back into the market.
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