- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Email to a Friend
- Report Inappropriate Content
TID BITS
Final part of the Syngenta corn fiasco pmt showed up today.
Yes I am depositing it.
Small compensation for all the shenanigans the Chicoms pulled (and are continuing) over the years.
Approx 12.45 cents a bu on part of several years production.
I can afford to farm another couple weeks here in Jan.
I'm sure I'll get a tax form showing it as 2020 imcome
BTW , they dated the check 12/30/20
I recieved it today 01/09/21.
Then there is the PPP loan/grant thingie.
Many in the area are getting notices they have been forgiven.
Tax free... Just a gift.
Then seems there have been some more retroactively applied changes. If you as a sole proprietorship the amounts have changed to the upside based on gross income not net, and can show reduced income in one quarter of '20 compared to '19.
Some might want to check it out.
Just gross income, do not have to show a profit to qualify.
2020 the gift that keeps giving.
.
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Email to a Friend
- Report Inappropriate Content
Re: TID BITS
Maybe it is a "gift" to be able to claim the Syngee check in 2020 at the lower Trump rates? The Biden spending promises and higher taxes are coming, I`m a glass half-full kinda guy
I know of a couple guys who sold corn late December, because in figuring taxes, the call was for "more income!" in 2020 ..that has always been foreign to me, I`m usually scrambling to sweep income under any rug I can find It was surprising that the one`s tax preparer told him he had "lost money too many years" and needed some points on the scoreboard or he`d be at a "high risk of an audit"...Yikes!
With the higher prices and "Trump money" why would one need to pull more money into 2020?
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Email to a Friend
- Report Inappropriate Content
Re: TID BITS
I also received my payment today and it also was sent out Dec. 30th. Just figuring it for 2020 income. We all had to fill out W-9's. I wonder if it was all payed out. Hard to imagine that it was. Glad to get the payment.
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Email to a Friend
- Report Inappropriate Content
Re: TID BITS
Hard Times make Strong Men
Strong Men make Good Times
Good Times make Weak Men
Weak Men make Hard Times
Can you guess where we are in this circle?
When you find your self in a hole,first thing to do is throw away that shovel.
When you get to the end of your rope tie a knot and hold on.
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Email to a Friend
- Report Inappropriate Content
Re: TID BITS
I would say we`re entering the weak men, hard times period. It depends on if we`re talking politically, business or farming, the 3 areas overlap so much. Farmers generally speaking have remained strong, got lean and mean, no powder puffs remain, however we received a lot of Covid relief money, that I honestly don`t know if many of us needed. If you had your niche of making it with $3 corn $9 beans, then got Covid money and corn jumped to $4 and $10 beans, 2020 was a very good year then. But 5 years in the making.
Politically and businesses, some businesses are done and won`t come back. Politically (which affects us all more than ever) sending out checks and $30 Trillion national debt and promises, promises. Taxes and interest rates are hard times ahead.
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Email to a Friend
- Report Inappropriate Content
Re: TID BITS
Now the violins can re-start on the deficit spending charade music - - -
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Email to a Friend
- Report Inappropriate Content
Re: TID BITS
Not everybody had a good crop, when you take out 70-75 insurance level, most times it keeps you in business for another year, but if you just had a yield with a small claim, you definitely needed any bonus money that you got this year. If you are in a tight situation, even 80% coverage may not cover all your expenses. So many different situations out there.
Hard times is when many older farmers decide to retire, why take a hit on what you have built. I think we all have seen someone farm too long and not much to show for a life of work. A lot of times it is health related and the golden years are not so golden.
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Email to a Friend
- Report Inappropriate Content
Re: TID BITS
I believed $20 Trillion ago the national entered the unpayable zone...the last 20 years has been watching the water pot waiting for it to boil, it`s taken 10 years longer than my most optimistic projections. And it may go another 20 years, who the hell knows? Like drilling a hole in the lake ice and it`s 4" thick....sure, let`s see how close we can fish next to the open water aerators.
But going forward farmers go back to low man on the totem pole, somewhere behind free college, free healthcare and reparations. So we better salt away some of that Uncle Sugar money, if you still have it.
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Email to a Friend
- Report Inappropriate Content
Re: TID BITS
Every time the killing stops the survivors crawl out of the hole and say it was worth it,”I am stronger, better, ready for the next battle” as they pick over the remains of those gone. So it goes in farming regarding hard years and ego.
The looser in 2020 was the rural economy. Even the burned cities will get their bailout. China & High tech expands its midwestern beach head with bases in strategic locations prepared to milk every peasant in the biggest monopoly move in US history—as Earnie Ford fades the song with “ I owe my souuuul..... to the company store”
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Email to a Friend
- Report Inappropriate Content
Re: TID BITS
What better timing to introduce Bankruptcy Chapter 2020 - 21 , with the current administration in place , to make these additions , As I am being contacted , at this very moment, by the "" R N C """ , asking for a donation to head off legislation that will address ''' sky rocketing ''' spending due to the election results - ? ? ?
""""" UN- BELIEVABLE """ - then again , why would I expect anything different , and I am CON-sidering a $mall pledge -
I could use your $O.02 on this , while the phone, robo -call recording repeats HELLO - HELLO, are you there - ???
Meanwhile, the double stacks containers( TTX), continue their rail journey ,'' East Bound '' out of the Port of Long Beach, California at a '' brisk rate '' ! ! ! !
$65.oo / head for feedlot inventory, being the ''' remains ''' - maybe ? ?