Pioneer Pointers 



Two Seasons Coincide 



The hustle and bustle of the holiday season 

 may be over, but this certainly Is not the 

 case for you as a grower as you begin your 

 spring production season. Did you know that 

 there was also another season — one occurring 

 right now and close to Its peak? It's a season 

 that arrives rain or shine and Is filled with a 

 myriad of new Information to be absorbed. 

 Some of this Information was discussed In the 

 last Pioneer Pointer. That's right — it's TAX 

 SEASONI And despite the demands of taking 

 orders from customers and building an Inven- 

 tory of quality plant material, filing and paying 

 Income taxes are things that need to be done. 

 Here's a short — but Important — list of Infor- 

 mation you need to compile to better prepare 

 for the 1997 tax season: 



1. Collect your 1099 Interest and Dividend 

 Statements issued from banks as well as any 

 1098 Interest Paid Statements from banks and 

 dealers; 



2. Gather your farm records for the 1997 sea- 

 son (hopefully, you've been maintaining a 

 good record of your income and expenses 

 throughout the year); 



3. List capital assets sold (I.e., equipment, 

 land, securities, etc.) and Include such 



information as sales price, original basis 

 (cost), and date sold; 



4. List capital/business assets (Including 

 equipment) purchased. This Is critical In order 

 to keep track of depreciation, which is an im- 

 portant write-off for your business (include 

 purchase price, date placed in service, and 

 trade-in Information). 



5. Collect some of your personal expenses 

 (charitable contributions, medical expenses, 

 real estate taxes, home mortgage Interest). If 

 these expenses exceed $6,900 (married filing 

 Joint), It may be advantageous to itemize on 

 your return; 



6. Collect any other non-farm Income sources, 

 such as W-2s, rental Income, or IRA distribu- 

 tions; 



7. Be sure to check Into the deductibility of 

 contributing to an Individual retirement ac- 

 count (IRA) by the time you file ($2000 for 

 single; $4000 for joint) as It may help reduce 

 your tax liability. 



First Pioneer Farm Credit, ACA, has an 

 experienced staff knowledgeable in farm tax law. 

 if you'd like us to prepare your income taxes or 

 would like more information regarding the recent 

 tax law changes, call the Bedford office at 

 1-800-825-3252. (SW) 



l^^'fA 



imm 



GARDENS 



OF A L T w IV 



WHOLESALE GROWERS and SUPPLIERS 

 of QUALITY PLANTS 



Spring Annuals • Geraniums • Hanging Baskerts 

 Perennials and Foliage Plants 3" to 10" 



P.O. Box 360 • Alton NH 03809 • Tel: 603-875-4444 

 Located on Route 28, 1 



Ozvners Bruce and Linda Holmes 



I ^ mile south of the Alton Traffic Circle 



FEBRUARY . MARCH ■ 1998 



25 



