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Consider smaller forward contracts for tax purposes

A farm tax specialist has some advice for farmers forward contracting grain.

Dan Coulthard with Compeer Financial says he recommends doing smaller contracts.

“Because if we are looking at it, we can bring income or tax those smaller incomes back in and don’t have to defer all payments (like you would with) a big contract.”

He tells Brownfield smaller transactions give farmers the ability to maximize certain tax brackets.

Consider smaller forward contracts for tax purposes

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