Posted 11/7/2024 03:32 (#10956131 - in reply to #10955329) Subject: RE: Farm corp- profit, loss &taxes
Illinois
For a little more info, yes a C corp. Dad passed away about a year ago. He always wanted to have corp show a good profit, save that money and have corp buy farm ground with the savings. But equipment and bin site upgrades we should have been doing 20 years ago, were always too expensive to him. So I’ve started upgrading things. Except for back in the 1980’s, the corp has always shown a pretty good profit to the IRS. It new thinking to me to get taxes down to close to zero.
Farm corp- profit, loss &taxes
