Accounting Changes Could Cut Incentives for Using Farms as Tax Shelters 11th ANNIVERSARY SALE ALL DAY FRIDAY, MARCH 2, 1973 9:30 A.M. on North Maple Avenue, Leola, Vz mile North of Route 23, watch for sale sign Large variety of tractor and farm machinery, horse drawn implements, new gates, new hardware, tools, etc., eta Truck load of citrus fruit direct from Florida. We sell on commission. DOOR PRIZES FREE COFFEE 15 FREE MEAL TICKETS BEFORE SALE TIME. Frank & Paul Snyder SALE BY Robert Martin, Aucts. DAVID H. GOOD Next Sale Friday, March 16,1973 Not responsible for accidents. PUBLIC AUCTION Registered and High Grade Holsteins Farm Equipment - Household Goods WEDNESDAY. FEBRUARY 28. 71 Will be sold at Public Auction on the premises located between Schaefferstown and Cornwall, along Route 419 at Buffalo Springs, next to Keller Bros. Ford, the follow ing to wit: 54 Head of Registered and High Grade HOLSTEIN DAIRY CATTLE 4 REGISTERED, BALANCE HIGH GRADE 34 COWS IN ALL STAGES OF LACTATION 5 BRED HEIFERS DUE MAY OR JUNE 6 YEARLING HEIFERS 5 HEIFERS Under 1 Year 3 BULLS, 4 to 5 months old 1 Service Age Bull FORD 5000 DIESEL w/Frontend Weight FORD 3000 with Live PTO Quick Wheel Change and Wheel Weights; Farmall Super A, needs engine repair with Cultivator and Plow; New Holland No. 717 1-Row Har vester; International No. 450 3-Bottom 16-In. Plow, 3-Point with Automatic Reset; Freeman Model 4005 Industrial Loader; Ford Flex-a. Disc on Transport with 32-Disc; Hawk Bilt 145-Bu. Tank Spreader; Ford Baler; Mayrath Eleva tor; 2 Flatbed Wagons with False End Gates; Ford PTO Side Rake; Ford 3-Point Mower with 7-Foot Bar; PTO Seeder: International Hay Conditioner; Flail Chopper; John Deere No. 246 Corn Planter with Insecticide Appli. cators; Farmec Grain Bin on Chassis; Kools PTO Trough Blower with Pipe; Wood Bros. Corn Picker; John Deere Spring Harrow; 3-Section Spike Harrow; Heat Houser for 5000; E-zee-Flow Fertilizer Drill; 3-Point Cultivator; 2-Row Transplanter; 11-Ft. Cultipacker. Agway Breeding Chart Wheel Three Surge Milker Units; 2 Milker Pumps; Stainless Steel Tubs; 2 Stainless Steel Milk Pails; 2 Stainless Steel Strainers; 220-Volt Electric Heater; 60-Gal. Hot Water Heater; 30'Milk Cans; Milk Stool. LINCOLN WELDER; REMINGTON CHAIN SAW; 3 Bunk Troughs; Pasture Hay Racks; 900x20 Dual Tractor Chains; Cattle Catch Gate; Jig Saw; Grindstone; High Pressure Washer; Pick-up Cattle Racks; 2 Mineral Feed ers; 4000 Tobacco Laths; Work Bench; Bull Dozer Fence Charger; Galvanized Water Trough; Water Tank; 2 Iron Hog Troughs; Dehorner; Wire Roller; Air Tank; Unloading Winch; Log Chains; Fence Stretcher; Anvil; Water Bowls; Digging iron; Battery Charger-Starter; 1 Other Battery Charger; Top Linlc; Heavy Duty Cord; Tool Box; Tools; 60 Wooden Apple Crates; 100 Half-Bushel Baskets; 15 Berry Crates. OLD IRON WHEEL ENGINE WAGON; Wooden Buffer Churn; Rope Bed; Two 6-Gal. Crocks; Other Crocks; Wood Chest; 2 Stirrers; Sausage Stuffer; Chest of Drawers; Roll Top Desk without top; Meat Grinder; Electric Meat Sliccr; Kitchen Cabinet; Automatic Gas Space Heater; and many other items too numerous to mention. Sale time 10:00 AM. We plan to start selling Cows at approximately 1:00 o’clock. Sale by PHONE 717-949-3363 NEWMANSTOWN R.l, PA. John E. and -Paul E. Martin, Auctioneers 717-733-3511 733-3305 Dale Hoover, Cattle Information 717-867-248# Zimmerman and Hoover, Clerks Lunch Available Plan New To Attend This Sale/ AT 10:00 AM. ELMER M. MARTIN Noting the possibility that liberal accounting rules allowed farmers under existing law could be revoked in whole or in part, a report by the U.S. Department of Agriculture says such a change could increase tax problems for farmers in several ways. From another standpoint, however, such change would give i Public Sale HUM MACHINERY S FEED Location: 7 miles Soatheast of Oxford off the Ox ford New London Road. 1 mile Northwest of Route 496 on the Harvey Chase Farm. I THURSDAY, MAR. 1, 1973 John Deere 2520 fully equipped; Ford Industrial 2,000 with loader, dirt scoop & fork; New Holland 273 baler with thrower (1 yr.); 3 hay wagons with racks; 1 J.D. 1065 A with 18 ft. bed; 1 J.D. 1064 wagon with 14 ft. bed with dump & racks; 1 Grove 16 ft. wagon with racks; J.D. 640 hay rake; Little Giant 40 ft. ele vator; New Idea 195 bu. manure spreader (1 yr.); J.D. 494 A 4 row cornplanter with dry fertilizer, IH C 12 ft. disc (transport); Brillion 13 ft. cultipacker? 1H C #lO 13 disc grain drill; J.D. 7 ft. scraper blade (1 yr.); 2 16-ft. hay racks. Other items not mentioned. All above equipment in very good shape. 20 x 60 silo full of corn silage, to be sold by the foot; 10 ft. corn silage in 18 x 60. Unloader in both silos can be used to empty. Approx. 25 ton straw; approx. 30 ton second cut ting (no rain) alfalfa; 9 open heifers; 7 Reg. 5 ready to breed; 2 Kingpin, 1 Astronaut, 3 Marcus Skip, 1 Allen Dairy Major, 2 grades by Marcus Skip. KREIDER & DILLER, Auctioneers RONALD D. WEST SALES S. C. HANSEN INC. “USED” EQUIPMENT DISPERSAL On Saturday, March 3rd we will sell a quantity of our used Merchandise to make room for our Spring Trade- Ins. Located at 180 Ithaca Road, Horseheads, New York. Beginning at 10:00 A.M. Approximately 20 Tractors, 12 Balers, 10 Forage Harvesters, Blowers, Combines, Gram Drills, 10' and 14’ Disc Harrows, Bnllion 16’ Harrow Hay Bines, (self propelled), Wmdrowers (Case and Owattonna), Mowers, 12 Plows (Mounted and Semi-Mounted). Many Miscellaneous Items, There is a large quantity of Merchandise here, too numerous to mentio/i. As we are doing business everyday some machines may be gone before the Sale and some may be added by the sale. Your inspection is invited at anytime prior to the sale to inspect our used equipment and also our 1973 Merchandise Don’t miss this Sale - Many quality pieces of Machinery that will be sold for the High Dollar. S. C. HANSEN, owners RONALD D. WEST, SALE MANAGER ROBERT M. SHAYLOR, AUCTIONEER ROBERT SLINGERLAND, CLERK To be assured of a really Top Auction or if you would ' like to sell your entire Personal Property outright contact the outstanding Auction and Cattle Concern m the Southern Tier, Ronald D. West Sales, Ronald D. West, R.D. 1, Mansfield, Penna. Phone: 717-724-1989, Robert M. Shaylor, Elmira St., Troy, Penna. Phone: 717- 297-3278 or Francis Courtright, 4275 Fairway Lane, Horseheads, New York, Phone: 607-739-2522. LUNCH WILL BE SERVED less incentives to nonfarm in vestors’ using agriculture in vestments as tax shelters The report by USDA’s Economic Research Service (ERS) explains the cash ac counting system permitted farmers for computing taxes Other businesses that produce or sell goods must keep inventory OF 12:00 Noon Terms by JAMES H. HERR Lancaster Farming, Saturday, February 24,1973 records for tax purposes, which forces use of the more detailed accrual bookkeeping method Cash accounting permits farmers simplified bookkeeping and allows them to ignore year end inventories of crops, cattle, feed, and other items. Farmers are also allowed to deduct certain investments in farm assets in the year incurred, for example, development costs for fruit and nut growers and some livestock held for breeding In most other businesses, expenditures of this type would be capitalized rather than deducted as business ex penses Also when farmers sell these capital assets they are taxed at capital gam rates, which are lower than regular income tax rates The special provisions open to farmer attract nonfarm in vestors, usually those in high income tax brackets By taking permissible farm in vestment deductions, and other cash accounting ad vantages, it is possible to show farm losses for tax purposes which are not true economic losses These “tax losses” are then used to reduce the investor’s total taxable income Changing to the accrual method from cash accounting would mean a larger tax the first year for most farmers Taxes would have to be paid on in ventories of unsold crops or .livestock forwhichdeductions for their production had been made in previous years A copy of “Accounting Methods Allowed Farmers Tax In centives and Consequences,” ERS 505, is available free on postcard (please include zipcode) or telephone (447-7255) requist from the Division of Information, Office of Management Services, U S Department of Agriculture, Washington, D C 20250 Poultry Educational Meeting March 1 The second poultry education meeting planned by Lancaster County poultrymen and the Agriculture Extension Service will be held at 7 30 p.m Thur sday, March 1, at the Farm and Home Center Poultry House Ventilation will be discussed by Joseph McCurdy, Agricultural Engineer at Penn State University. The discussion will include many factors in volved in moving air through the house and maintaining proper temperatures Dr Glenn Dressier and Dr. Floyd Hicks, professors of Poultry Science at Penn State, will present Poultry Waste Management Tins topic deals with the important area of handling poultry manure within theenviro m m e n t a 1 qualifications There will be a model of the “Sloping Plastic Floor” house on display 33
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