Farmer spends all his money to avoid paying taxes again

[@keithhundt1479]

Anyone who has owned their own business knew exactly what you were doing. I did exactly the same thing in my business every year.

[@ChrisHarding-lk3jj]

On Friday I pulled the trigger and purchased a brand new Haas UMC-750. Manufacturers like selling equipment before the end of the year to reduce inventory because anything remaining is a previous model year.

[@aahZeiK]

Yep, the government wants people to do this they structure the tax codes on purpose

[@karlmckinnell2635]

Had uncles, RIP, over in Scotland with sheds of equipment that were barely if ever used. Their attitude was either buy equipment or end up giving the money to the queen (taxes), being Scots they were none too fond of the queen 😅.

[@a20axf]

@@karlmckinnell2635that seems to still happen over here, and to be honest I don’t blame them. I’d do the same in that position.

[@dougwitman9176]

Right on Brian, I always thought I could manage my money better than the government. Bought a new grain cart one year. My tax savings paid for half the cart and made harvest much easier. Seeds, fertilizer, fuel, parts, and other suplies help balance the bottom line. Smart business practice.

[@JDseller1]

Brian I wish you good luck with your Fendt combine. We ran a Fendt 2022 10T for the 22 and 23 seasons. We only run corn and soybeans. In general we where happy with the machine. The only time we had any issue with the combine was in really green stem soybeans. I do mean really bad ones. Tall and freshly frosted. We did plug the straw chopper in them, twice. ( The CIH 9250 did not plug) Our machine had the updated horn or whatever they are calling it. We waited three sunny days and then did not have any trouble then. We were very happy with the grain quality too. I think your situation is enough different then ours that the AGCO/Fendt equipment works for you. We did try the non steering wheel model but did not like it. Since we where running a CIH machine as well, switching back and forth just did not work well with the joystick steering. We have traded the Fendt in on a second CIH 9250. Our main reasons was dealer support and parts availability. The three AGCO dealers in our area just do not carry hardly any parts for the Fendt combine. It seemed like it always took the two days for parts with them. So the warranty really did not gain us anything. The local dealerships where OK but not outstanding in their support. In general they just seemed to be not used to dealing with larger grain operations it seemed. When harvesting we are running 24/7. We often shell corn until the soybeans dry off. Then switch both combines over to soybeans and run until the beans get tough. We then switch back to corn and run to late morning the next day. The dealerships just are not setup to keep up with us. The CIH and JD dealerships just do a better job in our area. I wish the AGCO/Fendt system here was better. JD is really getting hard to deal with here from a cost stand point. Would we look at the Fendt again??? Yes. I think that they are getting a more interesting equipment line up for our use. We will just need to see a change in the local AGCO/Fendt support. P.S. The people flaming you on year end purchases, know nothing about larger business management. Prepaying expenses or deferring income are just two management tools. Farms of any size, are dealing with financial numbers that really get kind of mind numbing.

[@roytempleton9320]

Most Fendt combines in our area had service trucks following from field to filed cause they were not reliable. One farmer in the area had a fendt and a deere s790, the deere did most of the harvest when they had the fendt. They sent the fendt to auction and bought another deere.

[@rileyburka]

Our fendts ran great this year.

[@lnpipeline3306]

Do you follow Mike Mitchell? They had a whole fleet of them that were broke down HARD all the time, and one burned up. Not only that, they performed very poorly. They dumped the whole fleet. Those videos sure didn’t give Fendt any positive publicity.

[@adamwiseman5831]

That thing has a crazy unload speed. It's even noticeable in videos. Looks like about a 10 foot stream coming out the auger. Excited to see how it does for you guys

[@Farmerknowsbest]

Nicely done! We finally upgraded from our 2013 750tt to an 8700tt. It's going to be a long wait until wheat harvest in July!

[@stevebiddle8912]

Looking forward to seeing the new combine in action. Wishing you all a safe and prosperous 24 from Oklahoma

[@ctg18158]

I wouldn't care if farmers were tax exempt. Thank you for helping to feed the country.

[@billwhitman1529]

Brian, it's actually a great idea to buy a demo or discounted piece of equipment instead of brand new. The factory problems have been fixed, and every new piece of equipment has them! Also, you can benefit slightly in valuing a demo as new on your tax returns for depreciation. (Depending on your accounting practices.

[@Manoffire260]

Typical of all businesses - your willingness to save on taxes is merely what keeps Americans working producing products that keep the economy working. Nobody needs to worry, the government gets their share - the tax plan just gets more of us working selling things to people like Brian who makes/grows things to keep the economy moving.

[@paulprigge1209]

Exactly! Don’t apologize for making money!

[@lukethurman2672]

Amen

[@Tractorgal]

@Manoffire260 Well said, I read once that the OMB said that the Section179 code provides over $36 to the US economy for every dollar it saves the taxpayer (Brian). It has created hundreds of $$$ Billions in sales each year. I think companies and farmers utilizing the tax code “efficiently” leads to thousands of jobs for products and services that might not otherwise be created or used. It is probably one of the government’s most effective policies for keeping America moving and perhaps the most misunderstood by the general public who does not run an “operation”.

[@JD-9600]

Well said...

[@aahZeiK]

Yep the government structures the tax code a way on purpose, to keep money in circulation

[@d6joe]

A good episode for those that don’t farm, or are not in the business world, might be to explain cash accounting. And to really confuse some folks, talk about depreciation, and the different methods the IRS allows for that. Some heads will explode!

[@kenrobertson4569]

at least your honest.....

[@larrykluckoutdoors8227]

Thank you for all the great videos last year, good luck this year

[@billpotmesil]

No problem with maximizing your 2023 expenses to minimize taxes. I remember the last days of the year with my mother running tax calculations and my Dad and older Brother trying to decide the best way to spend the money!

[@cdwiggins2518]

Anyone who doesn’t pay expenses a year ahead to avoid paying taxes is definitely not a business person.

[@dedogster]

Anyone who thinks this is illegal has never run a business.

[@dirtdevil70]

As long as they understand the snowball effect.... biggest risk is a crop failure in 24..if a guy has a failure and cant cashflow prepaids in fall he coukd be looking at a huge tax bill and money in ths bank. Tax management is critical but not without risk

[@719vol]

*always take the advice of your accountant/bookeeper. For years, we have had a standing year end meeting with the accountant, scheduled for 12/30 or 12/31. it usually ended with a trip to the truck dealer. There was always more than one good ol’ boy there doing the same thing.

[@evil6822055]

The taxes are only part of this( a big part but still just a part) locking in prices and availability also makes this a smart move. You are spending the money anyway now or later..

[@guydaubenspeck9206]

I sold seed Korn alfalfa and other farm seed for 35 yrs, what's good to see my customers and myself as far as that's concerned being able to order for next year on this years money.. in production agriculture we know this doesn't happen every year, on the years that it does it's a good thing!

[@jamesbinkley4325]

Hope The Browns Family Farms have a Happy New Year.

[@LitltsLogging]

That is very good and smart business practices to spend your money like that Brian. It's either pay uncle Sam or pay for something you need for the farm. I do the same thing every year if need be. Nice combine should definitely do the work. Stay safe my friend

[@salmonhunter7414]

What you do with your business is your business. If you wish to put your money on a pile and burn it. That is completely up to you. May you have a great new year.

[@paulsanders1373]

That comment busted me up!

[@gregwinter9194]

Happy New Year Brown family avoiding tax is a smart move thankyou for a year of awesome videos

[@danagschwind6457]

You will like the new combine and cornhead!

[@stevefunderburgh8852]

Congratulations on getting your larger combine. Growing up on a farm, I understand just using one combine to free up more manpower for important planting jobs. I also understand the end of the year tax write-off. I worked at a feed/fertilizer plant while going to college, and it happened every year end .

[@Null065]

I don't see anyone complaining in here, it's standard business practice. But it's always weird of farmers to complain about government when they are one of the most subsidized trade.

[@BriansFarmingVideos]

I wish there were no subsidies because they use those as a way of controlling the market. They are basically paying for information

[@Null065]

@@BriansFarmingVideos Congrats on all the stuff you made happen simultaneously this year

[@productionfarming5678]

2024 looks to be very exciting to watch you guys!!! Casual outsider opinion, it looks like you guys will be highly productive this year with the new gear! Give er hell.

[@BigMacHD]

Not just farmers! I owned a broadcast TV production company. Spent everything every December for 35 years!

[@seant6527]

Thanks

[@MrLuke2623]

Rocky Mountain Farmer just bought a new Ideal 9 with tires and steering wheel. Pretty cool unit

[@jeffmcdaniel5826]

Yep. Small business owner myself. Gotta love taxes and the self employed title when it comes to getting loans. Thank God my business banker has a farming background

[@M.BFarms]

Happy New Year from Nebraska. Really enjoyed this video. God Bless!

[@1striperon]

If the critics could think ahead, they would see. It is a “pay me now or pay me later” practice. The last year in business those expenses were paid the previous year, meaning there will be a big profit and a big tax bill. Keep on going, Brian, you are doing just fine. Happy New Year to all the wonderful Brown family. Looking forward to 2024 videos, sharing the ups and downs with you.

[@condod414]

Great investments for future years.Happy New Years to you all.

[@mpstenz3520]

Take advantage of the rules so you can benefit financially. I sold highway motor coaches. The end of the year was my busiest.

[@Military-Museum-LP]

Excellent choice for the corn head. You will be happy with this head.

[@scothazlett2630]

Excited for the footage of the new Ideal. Please tell me that we will still get Combine footage with both Brian and Bob!😊

[@orrinandkarenhoppe3974]

i have only seen one person their on you tube, but he has the same trouble with the X9 also. I think you will properly only see that part of the combine on inspection

[@farmermatt629]

You will like the geringhoff… I got one couple years ago and like it

[@robo1210]

Great choose on corn head. Highly recommend some devastaters for it as you already know how good of a job they do.

[@BriansFarmingVideos]

Already ordered

[@robo1210]

@@BriansFarmingVideos I figured as much. lol. Happy New Year man

[@scottcannell5584]

Hi Brian thanks for another fantastic video Happy New year to you and your family hope 2024 is going to be a better year. Been subscribed to your channel for along time. Love how to see how crop farmer's do if differently in other part's of the world. Keep up the great content. Happy New year again from Australia 🦘🦘🦘🦘🦘🦘🦘🦘

[@dghuntingandfishingdg7981]

Hey Brian i would love to see you guys at the Louisville Kentucky farm show this year

[@crazykiwican]

You made a great choice. You will be more than. Happy. Agco is a great company. Great to see you are making money, that’s what you are in business for. Never apologise for being successful. Keep smiling

[@zaneskinner8001]

Ohio Governor Mike DeWine signed 2022 H.B. 33 on July 4, 2023. The law change increased the Ohio Commercial Activity Tax (CAT) exclusion to $3 million in taxable gross receipts for tax periods beginning in 2024 and $6 million for tax periods beginning in 2025. As a result of these changes, the annual filing and annual minimum tax (AMT) will be eliminated. This means that while a large majority of taxpayers will not owe CAT, those taxpayers having more than $150,000 of taxable gross receipts may need to file quarterly zero-dollar tax returns UNLESS they take action to cancel their CAT accounts. The Ohio Department of Taxation recommends most taxpayers should cancel accounts unless they are close to the $3 million threshold in 2024 or the $6 million threshold for 2025. For example, taxpayers who previously were close to $1 million in gross receipts typically filed quarterly instead of annually. In addition, taxpayers may not want to cancel their CAT account if they need to file to claim a tax credit, especially refundable credits. Might check with your accountant. Just what I know.

[@rickpederson1219]

Hope you guys have great success with your new Combine

[@1brymark]

Hope you have better luck than the owners of the 3 sitting at our local dealership that customers have returned.

[@steveneal2706]

Great video Brian. Happy New Year to you and the Brown family

[@clintwalton319]

Happy New Year! Thanks for sharing.

[@matthewcook7051]

Like the comments before me, no need to explain yourself. I get it! Being self employed gives you a whole new light on taxes!!! Good luck this upcoming year happy new year!

[@benpattinson1]

Good sign of a healthy business.

[@jimmycampbell3254]

Happy New Year's to all of y'all.

[@tophand9571]

Happy New Year to you all!!!

[@josejuarez8044]

May you all have a Happy new years day

[@Tremor-xu8qo]

Still have a POWER LADDER. Awesome.

[@gail8494]

Happy new year! Here’s to a fabulous 2024. Thanks for all your wonderful videos this year.

[@tommypointer7876]

I would like to see the lights on the new comb to see the updated light show, Happy New years

[@bigham1jb]

The thermal event suppressor is nicely located. The first season on the machine will generate good content.

[@richardradawetz8788]

The beauty of prepaying is it spreads taxes between all the suppliers

[@StormChaserZim]

Anyone complaining can start a business as well! Happy new year Brown Farms

[@America-First2024]

Happy New Year!!! 🎆

[@occthequartetofcatastrophe9973]

That combine is better than a 0hr machine it already has some kinks ironed out and has new warranty good looking machine happy new year

[@allenwalters9068]

Every business does it, waiting till next year for my tax needs, due to my dad passing in 2014 January I'm still dealing with getting to depreciation the stuff he had back out. 3 people in my area in the same boat, that and he paid for seed in December that year so still trying to get that. 2025 will be doing the same thing. You will love the gerringhoff head

[@erictrace]

Yeah!!! I still get to Hear POWER LADDER!!!! Simple things for simple minds I guess! Brian, Robert and Now BJ, I have been watching since you started and I have enjoyed watching you add and grow with this channel. I am Still amazed you don’t have a Million subscribers by now, I enjoy your content. Robert appreciate your insight on how things have changed with farming over the Years and the new technology. Bj , it has been nice to see how you have grown accustomed to the idea of being on camera and now filming your own sections of the story. May God continue to bless your family through out this coming year!

[@KevinChristiansen-i2q]

Great video Brian and Bob

[@rudyjensen9917]

Noticed the ziegler floor cover. I work for ziegler cat. I will have to find out which store it came from. I thought you bought a new one.

[@ronniedavis3273]

Happy New Year to the Brown Farms families!

[@Jayhawk226]

Happy New Year Brian and family. Don't apologize for keeping your business solvent. Some people's kids.

[@jeffshiner6087]

And here I thought that a "cat tax" was the cost of replacing all the stuff they knock off tables.🐈‍⬛

[@mattlyon5156]

I was thinking CAT tax is what he has to pay for Squishy

[@mattlyon5156]

I was thinking CAT tax is what he has to pay for Squishy

[@pormansgoldpmg5493]

Hey Brian. Noticed how u gripped the joystick on the Ideal drive in the fendt. Mike Mitchell did 2 videos on that system in an Ideal 10 they gave him to try. Maybe u already know this??? Place your hand at bottom of stick....with stick between your thumb and index finger while resting palm of hand on rest. Grip the rest while in road gear to only put slight movements into base of stick at speed. Videos can be found on KZbin if you haven't already seen. Had to lol at your Dad saying he wasn't going to be the one unplugging the rear of the combine. Your Dad's awesome. Happy New Years to the Brown Family.

[@catchup4430]

Yeah, in the picture I see yours is a fendt ideal he bought the same machine, but it’s on tires, rugs and tracks, Grace and peace.

[@jeramy2398]

Not only do you save on paying taxes but most companies offer discounts if booked and paid before end of year. My first accountant told me you have to take avantage of every rght off you can as you'll do more with money than the government ever will. Besides you better believe every politician takes adantage of every loop hole they can. The politicians put the loop holes in tax codes for themselves and their donors.

[@lesterburritt2038]

Happy new years guys. Can't wait to see the new combined in the fields

[@joelincoln3529]

YAHOO......POWER LADDER Happy new year Brian and family!!!!

[@zachrunyon3449]

I love the videos and keep up the good work I been woch your videos for 3 years

[@cyoungblood34]

Happy new year buddy. Love the new combine

[@Ice_Berge_00]

My dad and brother farm and this is just part of managing your expenses and income. I think those who haven't run the finances of a business may not be familiar with it but this is normal for companies and better to put the money into something you will use vs giving it to uncle Sam!

[@keithwestbrooks8629]

Happy New Year to you Brian and family. Can't wait to see the new combine in action!

[@KevinChristiansen-i2q]

Awesome looking combine Brian BJ and Bob

[@cwoarl]

Ideal drive is nice till you come to a field with tons of curved headlands and sloughs where a steering machine turn the steering and it'll continue along that path while your hand does something else for a few seconds but with ideal drive on slow curves as soon as u let go of the stick it goes straight ahead you learn pretty quick your left hand is very busy on winding headlands and sloughs

[@TomSmith-me7ph]

Happy New Year to you too! You are doing nothing wrong by taking advantage of tax breaks at year end.

[@jameskendrick573]

Thank you for farming God bless and happy new year

[@andyknox9276]

Changed from class 7 to a giant fendt nine that will keep brother hopping on grain cart,good idea going to one big combine.Maybe should have spent extra cash on a steering wheel,just kidding joy stick will work fine.

[@billsrq1788]

Happy New Years from Siesta Key Florida.

[@GaryCSchade]

Thank You for sharing your experiences farming and running your businesses. I Pray that You all will have a Happy, Healthy, Successful and Prosperous 2024. 🎉 Gary the Alaskan

[@jerryfife2015tacoma]

Happy New Year to you and your family and that combine is sweet and can't wait to see you guys put it to work.

[@hvy1ton]

I had really good luck with the Northstar I ran. Hope it works well for you all too.

[@robm3063]

So last year around the 1st of December my nephew who owns a logistic company got the call. The accountant said you guys are going to get hammered with taxes, you better buy stuff. So one 80+ k Ram, one 90K raptor and a Telsa S model later the tax man was happy. Now this year his brother works for a small manufacturing company. They got a very large contract for a huge corporation. They fulfilled part of the contract and figured that corporation would do the 90 day net pay. Nope they paid in full 1st of December to get it on their books for 2023. My nephews boss had to buy a new to them 30k GMC to make the tax man happy.

[@foxxrider250r]

I understand the concept but not 100%. Probably because ive never been in that "tax bracket" per se. What kinda numbers does someone have to be pushing to have a problem like this?

[@robm3063]

@@foxxrider250r let's just say the day before the COVID-19 shutdown his company grossed several million dollars a year and instantly went to zero. He's heavy into moving stuff to conventions. They are probably close to getting back there. They have no product they make just middle man in the trucking industry. They are trying to buy a building to have a tax write off but are having trouble finding anything here (Chicago land). They are probably going to have to build a place.

[@nathanmorton4080]

Good choice on the corn head, best head on the market

[@trtj200]

Happy New Year to you all. Tax time is a hassle no matter what business you have, I farmed for 30 years and drove truck for nearly 30 years tax planning was a hassle for both!

[@tomb.1972]

Those laws were the same in the 80's when I farmed. So absolutely the last place anyone should want to do is give the careless gov't more money in their hands!

[@saloanhemmert7633]

When are we gonna see the service bed walk around with the new Denali truck!!!??👍 awesome videos!

[@rademt]

Just what we needed to end the year….a “Power Ladder”!

[@larryjensen1578]

Thank you and Happy New Year.

[@georgeegly8354]

Happy new years to you and your family

[@cliffh8486]

Nice combine

[@wcooman1694]

Brain don't sweat the haters. I remember my dad going out and buying stuff at the end of the year too.

[@jeremygrubb1434]

Brain you have to look over some people they have no clue they don’t understand that what a lot of people do at the end of the year they usually spend a lot of money I would rather buy something instead of giving it to the irs there is nothing wrong with that every business does it they call it a tax write off good looking combine that is a great warranty on it keep the good videos coming

[@halwilliams1682]

I started farming in 1973 and am now retired. I have never heard of a Commercial Activity Tax in Nebraska. That must be unique to Ohio?

[@BriansFarmingVideos]

It’s a state tax

[@bryanswing135]

Happy New Year everyone.

[@james-we6fr]

Happy New Year and hope you have a better one.

[@jameskline4098]

Thanks for showing us the new Ideal, and good for you on buying next years inputs with this years dollars!!! That’s called business for those who may not be aware😂

[@jonmcfarmer6954]

What a sweet combine and don't listen to the haters - they don't know what they are talking about anyway. They are just brand nutters.😅 Also you chose the right corn header. Just ask the Larssons.

[@6658tw]

That cool the machine came form Ziegler Cat dealer where I work

[@BriansFarmingVideos]

Yep. Did you guys have any issues with it while demoing it