Folks, where has the time gone? We are all beginning to wrap up yet another year and looking toward 2015. With that comes tax planning considerations. Despite spring conditions which were less than ideal in many parts of Ohio and a drop in commodity prices, many of you are still in a position where purchases need to be made as part of your 2014 tax strategy.
As you plan your year-end expenditures, one good option is to prepay for some of your inputs. Not only will this provide you with a needed tax deduction, but this also gives you the ability to take advantage of early program discounts offered by many seed and chemical manufacturers. In addition, prepay allows you to lock in the price on your spring-applied fertilizer.
Novus Ag offers two prepay programs which you can take advantage of– a general prepay and a prepay for interest program. We also partner with John Deere and TruChoice finance programs for those who wish to take advantage of a third-party financing option. Manufacturer discounts at this time of the year are generally greater than the interest rates on these programs so even if you do not need to purchase inputs as part of your tax strategy, you may just want to make your money work harder for you by maximizing those product discounts.