Well the first part of winter has been good! It has also gone VERY fast! It seems like just yesterday I was sitting down to a Thanksgiving turkey and finalizing purchases for Christmas presents. I can hardly believe that February is half over except for the fact that tax season is upon us!
I have to say that if I would do everything right each month throughout the year, my annual visits with our accountant and farm management consultant would be much less stressful!
It seems like I spend about 5 days and numerous sleepless nights immediately prior to these meetings making sure I have all my numbers correct and documentation in place. Each year I promise myself I will do better, but I seem to have fallen into a routine and comfort zone.
This week we have had what could be called the "come to Jesus" meetings. Now, I am one that believes that if you make it you pay it, but that you shouldn't give your hard earned money away. I also believe that going into tax season not knowing what tax laws/ deductions etc will be in place should be a sin. It's kind of like playing a game with only half the pieces or with a two year old who makes the rules up as you play.
Being that I was functioning on minimal sleep and had a brain of mush, I feel that the meetings went well. I only had 3 small issues that could be corrected within minutes! This was a first. The tax laws presented opportunities to secure a bit of operating security into the future while contributing significantly to the federal and state tax departments as responsible US citizens do.
For the first time in 12 years I feel good about what I have been able to do on our family farm to provide a quality product to market while contributing to the economic position of our state and nation. Taxes are not something we can run away from, but should acknowledge that it is our responsibility to pay them. If we make it, we need to pay it! After all, it is not what we "lose" (pay), it is what we "gain" ( take home amount/ experience/ etc) that makes us rich!