Posted by rrlund on December 14, 2018 at 16:32:39 from (173.225.203.235):
In Reply to: Re: Social Security. posted by elton fancher on December 14, 2018 at 16:15:27:
That's the thing right there. Way too many farmers play the tax game and pay as little as possible with income averaging,depreciation,investment credits and all those legal ways out. It hurt like you can't believe when I was writing a check for 14-15 thousand dollars right out of my pocket every year to pay income tax and Social Security when I was milking cows,but it has paid off quite well in what my statements say I have coming.
I had a neighbor who died of cancer in the late 80s. When he tried to get SS disability after he was diagnosed,he found out he didn't have anything coming because the sharp lawyer who had done his taxes all his life figured out how to never pay a dime in for him.
My father in law wasn't a farmer,but when he died at the age of 90 a few years ago,he was only drawing about $800 a month. His wife was a registered nurse and made good money,but he doinked around in his uncles restaurant for a lot of years,waiting tables,washing dishes and running off at the mouth. He was a cop for a very short time,worked at Chrysler for a few years,then became a clown. If not for those years at Chrysler,he probably wouldn't have drawn anything.
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