Show The County Agents Report Duchesne County Farm News by Lloyd Smith and Norris INCOME TAX I As in all farm small leaks are the ones that sometimes prove most costly on filing income says Leon C. Extension farm management specialist w i t h Utah State He points out that an oversight of only 00 in expense items may cost an additional 00 It is that records include all items of expense and income that will help determine net profit on loss from the agriculture business By keeping god records farmers may save themselves some dollars on income The farm family account book published by is available at your local county agent To simplify filling out the income tax the account book is so arranged to classify various items in categories corresponding to the various headings used on tax The following groups are recommended on recording Sale of livestock Sale of produce Other Sale of items purchased for and Sale of assets that may receive capital asset treatment Depreciation schedules are also These should be kept on farm buildings and purchased livestock used for or draft Since these items depreciate each the loss is deductible for income tax purposes at the end of the year in which it In addition to the family farm account books available at the county agent's you can also obtain a copy of the 1959 Farmers' Tax Guide to help in managing your income tax filing FED CATTLE Prices of fed cattle arc expected to continue strong until according to M H Extension livestock marketing specialist with the He points that some persons feel that these prices will be sustained for as much as 60 Much depends on when the big market push of fat cattle will No one knows for sure when this will there will be more cattle coming to When this volume begins to increase materially we can expect a slight drop in The big push on marketing is expected to hit a peak during the second quarter of 1959 to and again on the of the summer This will undoubtedly make the summer price rise materially less than last Contract prices for delivery of fat cattle through the next five months indicate that the slaughter cattle prices will like ly be quite stable over a period of several months Livestock feed price should also continue Taylor indicates He advises marketing cattle as they are finished for class and quality and avoid excessive Seasonal decline in prices and penalties for overweight will offset any advantage of longer feeding |