SOURCE: Willie Vogt, FARM PROGRESS, 10/21/20

Last month we explored the idea of when it’s time to replace a machine. With equipment sales in a slump for five years, it’s logical that some of the equipment on your place is aging. Crop prices are trending up — somewhat — and there have been payments to farms. While those crop price and support payments may just be covering the bills, it may also be time to explore your true capital purchase needs. Of course, one reason to think about this now is for tax purposes.

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