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Posted: 10/21/2021 8:07:34 AM EDT
[#1]
Dang I'm getting hosed on taxes then
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Posted: 10/21/2021 8:13:56 AM EDT
[#2]
Quote HistoryQuoted: Dang I'm getting hosed on taxes then Most people working for someone else are tax slaves. |
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Posted: 10/21/2021 8:17:06 AM EDT
[#3]
Need to understand the difference between tax shelter, tax avoidance, and tax fraud
It’s all fine until you get audited More than likely your going to get slammed. If it happens to be an NRP audit your going to get absolutely screwed. IRS has been pretty hot on “gentleman farmers” the last 10-15 years |
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Posted: 10/21/2021 8:22:22 AM EDT
[#4]
Quote HistoryQuoted: Here are some differences: -THEY work for a living. -THEY have a right to be in this country. -THEY aren't Taliban, or thieving politicians. Quote HistoryQuoted: Quoted: All those farmers lined up too apparently. Here are some differences: -THEY work for a living. -THEY have a right to be in this country. -THEY aren't Taliban, or thieving politicians. At some point your conscience should tell you it’s wrong to take what you haven’t earned. At some point you need to understand that you’re looting from your fellow man. At some point your fellow man is going to realize what you’ve been doing. George Soros said if he didn’t rat out his brethren, someone else would. May as well make hay... |
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Posted: 10/21/2021 8:29:38 AM EDT
[#5]
I believe that those are Liberal Farms.
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Posted: 10/21/2021 8:34:02 AM EDT
[#6]
Can you deduct previously purchased/owned equipment, but now in use exclusively on a farm?
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Posted: 10/21/2021 8:35:00 AM EDT
[#7]
Quote HistoryQuoted: I know half a dozen guys who have "Farm" tags on their brand new brodozers. All their trucks are pavement princesses and I guaran-damn-tee you those Blake Shelton looking motherfuckers haven't planted 3 kernels of corn put together. I don't know what it takes to get your property classified as a "farm" but from what I've seen it's just something the semi-rich do to get extra tax cuts. They're all the "daddy's money" types who have family businesses that aren't farm related like car dealerships, construction, commercial property development, etc. If they have farm tags on their trucks, are they also carrying commercial vehicle insurance on them? |
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Posted: 10/21/2021 8:40:41 AM EDT
[#8]
I watched a video of a guy who broke down all the costs of running his farm for the year. He averages a $150,000 a year loss. He said the only reason he and his family survives, and the general populace gets food from his farm, is because of government subsidies. He said most farms operate like that and if the government wasn't making up the loss, almost everyone would starve to death.
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Posted: 10/21/2021 8:43:05 AM EDT
[#9]
Ahh.
Yet another thread made by city boys about farmers. How innovative and refreshing. If it’s so easy, come on out to the countryside and start your farm. Urbanization and suburban soft men will be the death of this country. Y’all make me laugh. |
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Posted: 10/21/2021 8:54:12 AM EDT
[#10]
Quote HistoryQuoted: Is this figure accurate? Seems low to me Apparently it’s pushing 300k now. |
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Posted: 10/21/2021 8:56:20 AM EDT
[#11]
Quote HistoryQuoted: I watched a video of a guy who broke down all the costs of running his farm for the year. He averages a $150,000 a year loss. He said the only reason he and his family survives, and the general populace gets food from his farm, is because of government subsidies. He said most farms operate like that and if the government wasn't making up the loss, almost everyone would starve to death. My brother made -$14,000 last year. But he’s not a farmer. People wouldn’t starve, the price of food would go up. |
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Posted: 10/21/2021 9:05:08 AM EDT
[#12]
Quoted: As per the USDA Farm households typically receive income from both farm and off-farm sources. Median farm income earned by farm households is estimated to decrease in 2020 to -$1,248 from $296 in 2019, and then forecast to decline further to -$1,387 in 2021. That is very eye opening. And more power to you guys who have the land and time to pull this off. Kudos! I haven’t read all 4 pages of replies. Maybe this was posted already. You can go here: https://farm.ewg.org/ And do a little digging there to be able to search by zip code which farmers in your area are getting what $$$ amount in subsidies. Which brings me to my next point….well points actually. So not only are farmers getting propped up on the supply side by government subsidies (your tax money), but they are also getting propped up by the demand side. When Shaniqua the hoodrat (with the fake 3 inch long plastic claws for finger nails, the Tammie Fae Baker tarantula eyes fake eyelashes, the fake blonde braid hair extensions, and the neck and titty tats…. How is she able to pay for all that?) pulls out her EBT card or her Illinois LINK card (your tax money) at the grocery store she is artificially increasing demand for food items. Also….get this….this is the real kick in the financial nuts… Because you are basically competing against Shaniqua for food items, those food items cost you more. But she doesn’t give a fuck what they cost because it’s not her money paying for them. And in fact for you, the hard working income earning ARFcommer that you are, it is a bit of a “double whammy”. Your taxes are higher because you gots to pay the Shaniquas all across the USA for their groceries, so that leaves you with even less money in your pocket to actually be able buy those groceries (or night vision…. Or thermal.). And once you get to the grocery store, what money you still have left in your pocket doesn’t go as far because Shaniquas everywhere are inadvertently jacking up the prices. So, if I could wave my magic wand and POOF! overnight EBT and Link and WIC, and SNAP went away, I could cut you’alls grocery bill at least by half because prices will drop. |
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Posted: 10/21/2021 9:13:50 AM EDT
[#13]
Quote HistoryQuoted: Ahh. Yet another thread made by city boys about farmers. How innovative and refreshing. If it’s so easy, come on out to the countryside and start your farm. Urbanization and suburban soft men will be the death of this country. Y’all make me laugh. What’s your zip code?  |
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Posted: 10/21/2021 9:25:12 AM EDT
[#14]
Quote HistoryQuoted: look at the median number......and that is the net profit on the schedule F So for example, let's say I have a cattle ranch. I sell enough F1 steers to get a check for $250,000 I have normal expenses for the year like feed, meds, fuckin bull tore up the fence again, fuel, oil, etc. That adds up to $50,000 so now I have a NOI of $200,000. Well looks like I need a new F250 and a new tractor. That's $200,000 section 179 it and thus 0 income. Every business does that. |
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Posted: 10/21/2021 9:31:08 AM EDT
[#15]
Quote HistoryQuoted: Most people working for someone else are tax slaves. I read the EZ on the 1040EZ as accepting your rape without a struggle. |
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Posted: 10/21/2021 9:32:46 AM EDT
[#16]
Quote HistoryQuoted: look at the median number......and that is the net profit on the schedule F So for example, let's say I have a cattle ranch. I sell enough F1 steers to get a check for $250,000 I have normal expenses for the year like feed, meds, fuckin bull tore up the fence again, fuel, oil, etc. That adds up to $50,000 so now I have a NOI of $200,000. Well looks like I need a new F250 and a new tractor. That's $200,000 section 179 it and thus 0 income. Quote HistoryQuoted: Quoted: Wat?  look at the median number......and that is the net profit on the schedule F So for example, let's say I have a cattle ranch. I sell enough F1 steers to get a check for $250,000 I have normal expenses for the year like feed, meds, fuckin bull tore up the fence again, fuel, oil, etc. That adds up to $50,000 so now I have a NOI of $200,000. Well looks like I need a new F250 and a new tractor. That's $200,000 section 179 it and thus 0 income. This has been the game all along. My wife has a W2 income. I'm self employed. I do what I can to show no or minimal income. I've shown-$15k before. I can almost offset to the point that we pay no income tax. |
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Posted: 10/21/2021 9:39:56 AM EDT
[#17]
Tagged to make $350,000 a year off government subsidies.
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Posted: 10/21/2021 9:43:32 AM EDT
[#18]
Quote HistoryQuoted: Ahh. Yet another thread made by city boys about farmers. How innovative and refreshing. If it’s so easy, come on out to the countryside and start your farm. Urbanization and suburban soft men will be the death of this country. Y’all make me laugh. "You know, farming looks mighty easy when your plow is a pencil, and you're a thousand miles from the corn field." As far as the farm tags on vehicles, all it means here in Mo is that you're limited on how far from the farm you can drive the vehicle. It's 100 miles I think. Anyone can put local tags on their brodozer but if a cop wants to press it you can be ticketed for not having beyond local tags if out of range. |
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Posted: 10/21/2021 10:19:42 AM EDT
[#19]
Quote HistoryQuoted: I haven’t read all 4 pages of replies. Maybe this was posted already. You can go here: https://farm.ewg.org/ And do a little digging there to be able to search by zip code which farmers in your area are getting what $$$ amount in subsidies. $3.75M total over the past 25yrs for my county. This is a rural county with lots of farms and cattle. |
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Posted: 10/21/2021 10:34:27 AM EDT
[#20]
Taxation is theft. Use the legal means to stop the theft.
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Posted: 10/21/2021 10:53:36 AM EDT
[#21]
So, if a person had earnings from a regular job (W2) taxable income of say, $200k, and they also have a farm with an income (loss) of -$150,000, does that mean that they are taxed overall on an income of $50,000?
I understand it’s highly complicated and requires an accountant, but in general, is this how it works? Apologize for the stupid question, but it’s a difficult thing to learn about. |
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Posted: 10/21/2021 11:07:54 AM EDT
[#22]
Quote HistoryQuoted: So, if a person had earnings from a regular job (W2) taxable income of say, $200k, and they also have a farm with an income (loss) of -$150,000, does that mean that they are taxed overall on an income of $50,000? I understand it’s highly complicated and requires an accountant, but in general, is this how it works? Apologize for the stupid question, but it’s a difficult thing to learn about. soemone correct me if im wrong, but i thought if you file as a sole proprietor for your farm business, then it would impact the taxes on your 1040 and so could hypothetically reduce your w2 taxes (if you had a loss for your business). but as i understand , you must show profit 3 of 5 consecutive years to be classified as a business (vs a hobby), so its not like yo ucan keep taking losses to reduce your w2 income taxes |
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Posted: 10/21/2021 11:09:13 AM EDT
[#23]
Quote HistoryQuoted: I watched a video of a guy who broke down all the costs of running his farm for the year. He averages a $150,000 a year loss. He said the only reason he and his family survives, and the general populace gets food from his farm, is because of government subsidies. He said most farms operate like that and if the government wasn't making up the loss, almost everyone would starve to death. Yep. Most farms can operate at a net loss for some years in a row. Subsidies help, and the wife working full time while the farmer does some trucking, custom farming, or drainage/excavation to bring in additional income helps as well. Then you get a spike in grain prices, like 2012, & 2021. Those spikes can wipe out a lot of debt, operating loans, provide funds for equipment, infrastructure, & land investments, and provide "income" for a few years down the road for the farm family. I know a few old boys that just spent the last of their "2012 money." Guys that had old crop in the bins yet this summer were able to take advantage of some historically high grain prices and also were able to contract some new crop at those prices before prices retreated slightly. $5 corn is profitable. $4 corn is barely break even. Most of the farmers I know just want to net enough money to raise their family while building an operation that can be handed off to the next generation. Occasionally a farmer cashes out. Usually because there's no son or daughter positioned to take over. Sells the equipment, the grain bin site, maybe a few quarters of ground, and buys a lake home. Takes cash rent off the remaining land. Some never cash out and their kids get rich selling the land after ma and pa are dead. I'm signed up for an online land auction that starts tomorrow. 3 siblings selling off the family 320 acres. Likely will go for over $10K/acre. Each daughter grosses a million. Their dad would much prefer his kids got the money anyways; he wasn't the type to really care. Just wanted some old tractors to tinker with and some corn in the bin come end of harvest. |
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Posted: 10/21/2021 11:11:36 AM EDT
[#24]
It’s not all rainbows and sunshine to work full time and still take care of a few cows and bale hay.
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Posted: 10/21/2021 11:11:58 AM EDT
[#25]
Quote HistoryQuoted: At some point your conscience should tell you it's wrong to take what you haven't earned. At some point you need to understand that you're looting from your fellow man. At some point your fellow man is going to realize what you've been doing. George Soros said if he didn't rat out his brethren, someone else would. May as well make hay... YOU seem to have a different idea about that. |
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Posted: 10/21/2021 11:13:26 AM EDT
[#26]
Quote HistoryQuoted: $3.75M total over the past 25yrs for my county. This is a rural county with lots of farms and cattle. My X, X BIL is a big time farmer. Long story short, he tried to strangle me in the middle of a Sears store in June of 2007….about 8 months after my sister (his X-wife) died. He was bitching about medical bills incurred for his daughter (my niece) after my sister died. I looked him up at that Environmental Working Group website. At that time, it only covered like a 10 year span. During that 10 year span, he became THEE highest or most subsidized farmer in that zip code to the tune of $1,600,000 . And he might just be the highest subsidized farmer in the county. |
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Posted: 10/21/2021 11:16:57 AM EDT
[#27]
Quote HistoryQuoted: Too bad Tactical Garand is in ARFCOM jail. He would have lots of input on this. WAIT............WUT!!??
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Posted: 10/21/2021 11:18:59 AM EDT
[#28]
Quote HistoryQuoted: I haven’t read all 4 pages of replies. Maybe this was posted already. You can go here: https://farm.ewg.org/ And do a little digging there to be able to search by zip code which farmers in your area are getting what $$$ amount in subsidies. Which brings me to my next point….well points actually. So not only are farmers getting propped up on the supply side by government subsidies (your tax money), but they are also getting propped up by the demand side. When Shaniqua the hoodrat (with the fake 3 inch long plastic claws for finger nails, the Tammie Fae Baker tarantula eyes fake eyelashes, the fake blonde braid hair extensions, and the neck and titty tats…. How is she able to pay for all that?) pulls out her EBT card or her Illinois LINK card (your tax money) at the grocery store she is artificially increasing demand for food items. Also….get this….this is the real kick in the financial nuts… Because you are basically competing against Shaniqua for food items, those food items cost you more. But she doesn’t give a fuck what they cost because it’s not her money paying for them. And in fact for you, the hard working income earning ARFcommer that you are, it is a bit of a “double whammy”. Your taxes are higher because you gots to pay the Shaniquas all across the USA for their groceries, so that leaves you with even less money in your pocket to actually be able buy those groceries (or night vision…. Or thermal.). And once you get to the grocery store, what money you still have left in your pocket doesn’t go as far because Shaniquas everywhere are inadvertently jacking up the prices. So, if I could wave my magic wand and POOF! overnight EBT and Link and WIC, and SNAP went away, I could cut you’alls grocery bill at least by half because prices will drop. Yes, I just quoted myself. Now that I think about it, this whole EBT and Link card thing has secondary and tertiary effects as well. It artificially keeps crop prices higher. In turn, that artificially keeps land prices higher. Maybe about 8 years ago, my girlfriend’s father’s farm just land wise was appraised at $5,000,000 . Then one of the big three crops dropped in price. It didn’t get appraised for anywhere close the 5 mill when he died 2 years ago. |
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Posted: 10/21/2021 11:21:21 AM EDT
[#29]
Quote HistoryQuoted: Pretty much what happens when you give up control of food production to a small population. They have leverage and use it to create/modify laws to favor them. If you think it's bad now wait until the government takes over. Yep, ask the Kulaks. Oh, wait, you can't. |
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Posted: 10/21/2021 11:21:59 AM EDT
[#30]
OP, how could you survive an audit by saying the pickup truck is used only for sec. 179 purposes when a vehicle like that can be used for non farm purposes?
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Posted: 10/21/2021 11:25:15 AM EDT
[#31]
Quote HistoryQuoted: soemone correct me if im wrong, but i thought if you file as a sole proprietor for your farm business, then it would impact the taxes on your 1040 and so could hypothetically reduce your w2 taxes (if you had a loss for your business). but as i understand , you must show profit 3 of 5 consecutive years to be classified as a business (vs a hobby), so its not like yo ucan keep taking losses to reduce your w2 income taxes Quote HistoryQuoted: Quoted: So, if a person had earnings from a regular job (W2) taxable income of say, $200k, and they also have a farm with an income (loss) of -$150,000, does that mean that they are taxed overall on an income of $50,000? I understand it’s highly complicated and requires an accountant, but in general, is this how it works? Apologize for the stupid question, but it’s a difficult thing to learn about. soemone correct me if im wrong, but i thought if you file as a sole proprietor for your farm business, then it would impact the taxes on your 1040 and so could hypothetically reduce your w2 taxes (if you had a loss for your business). but as i understand , you must show profit 3 of 5 consecutive years to be classified as a business (vs a hobby), so its not like yo ucan keep taking losses to reduce your w2 income taxes Would still be worth it, even if it only lasted for 3 or 5 years. It would mean that ~$150,000 went toward equipment or improving the farm, rather than completely thrown away on taxes. This is assuming the proprietor wants a farm for retirement. How does one find an accountant who specializes in this sort of thing? |
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Posted: 10/21/2021 11:26:48 AM EDT
[#32]
Quote HistoryQuoted: What am I missing? how is this different than any other business? I can buy new cranes and welding machines instead of a tractor. I can get myself a new truck. If I spend or reinvest all of my earnings....wait for it....I have no earnings. But, who wants to run a business and have no earnings? I actually own and run a business and I have no idea what you're getting at. What am I missing? Most "farms" are tax shelters and write-offs. The agribusiness corporations that produce about half the world's cereal crops and animal protein function more like WalMart. |
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Posted: 10/21/2021 11:28:26 AM EDT
[#33]
Quote HistoryQuoted: If you got time to work another full time job you are gardener not a farmer and should be treated as such. Then again if you can pull it off and get the tax breaks you are just playing the game can't fault ya for that. Ignorant statement. Many small farmers work off farm jobs because they HAVE TO, to make ends meet. "Pull yourself up by the bootstraps boy, work 14 hours a day and get somewhere in life!" also "If you work too much you are just gaming the system!"
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Posted: 10/21/2021 11:28:32 AM EDT
[#34]
Quote HistoryQuoted: So, if a person had earnings from a regular job (W2) taxable income of say, $200k, and they also have a farm with an income (loss) of -$150,000, does that mean that they are taxed overall on an income of $50,000? I understand it’s highly complicated and requires an accountant, but in general, is this how it works? Apologize for the stupid question, but it’s a difficult thing to learn about. How about, It depends. You can offset Net Operating Losses against Taxable income within boundaries. https://www.irs.gov/publications/p536#en_US_2020_publink100044586 The Gov recognizes that: 1)People need food and Not all food can be imported. 2)Big Ag doesn’t supply enough in the right channels to ensure an adequate food supply. 3)Small Ag is nimble, flexible, and able to fill in the gaps that the Big Ag monster leaves. 4)Someone in a Small Ag household usually has a “day job.” In order to keep the lights on during the “rough times.” 5)Not allowing losses from the farm to be recovered from the “day job” side negates the purpose of having one. 6)Aging Baby Boomers are buying retirement houses that happen to have farms attached. They try to offset farm expenses, like a new side by side, against income when they aren’t actively farming. Leasing the land to someone else isn’t enough. The evil eye of the IRS notices and they get themselves audited. (At least that’s what my accountant says.) ETA: I haven’t had any losses or expenses big enough that it mattered for a long time. |
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Posted: 10/21/2021 11:32:43 AM EDT
[#35]
Quote HistoryQuoted: I grew up on a small 5 generation farm, cattle, corn, soybeans, an orchard, tobacco when I was in school. Parents are down to just the orchard and soybeans now with hay as a for sale item instead of for cows now, sold the last of them last year. They break even or make little each year, take no assistance from the government what so ever. My dad hasn't had a day off his entire adult life minus the few times he was injured seriously. I know two couples my age that "farm" and work real jobs, they have brand new vehicles, dirt bikes, and tractors. I just shake my head and go back to helping my parents. Real farming is a life, not a job. I have no clue how it works out west with huge fields, but here its back breaking! Yes, most farmers out here are just that, farmers. They work fields, and work on equipment year around. Most are very family oriented and the farm is their life. They aren't fake as OP would have everyone believe. Standard bullshit you would expect from OP. |
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Posted: 10/21/2021 11:34:44 AM EDT
[#36]
Quote HistoryQuoted: Yes, most farmers out here are just that, farmers. They work fields, and work on equipment year around. Most are very family oriented and the farm is their life. They aren't fake as OP would have everyone believe. Standard bullshit you would expect from OP. That's the way most are around here from what I have seen. |
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Posted: 10/21/2021 11:36:38 AM EDT
[#37]
Quote HistoryQuoted: "You know, farming looks mighty easy when your plow is a pencil, and you're a thousand miles from the corn field." As far as the farm tags on vehicles, all it means here in Mo is that you're limited on how far from the farm you can drive the vehicle. It's 100 miles I think. Anyone can put local tags on their brodozer but if a cop wants to press it you can be ticketed for not having beyond local tags if out of range. To be fair that also applies to "commercial" vehicles which is a hell of a cost difference and easily abused. 
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Posted: 10/21/2021 11:45:16 AM EDT
[#38]
Quote HistoryQuoted: How about, It depends. You can offset Net Operating Losses against Taxable income within boundaries. https://www.irs.gov/publications/p536#en_US_2020_publink100044586 The Gov recognizes that: 1)People need food and Not all food can be imported. 2)Big Ag doesn’t supply enough in the right channels to ensure an adequate food supply. 3)Small Ag is nimble, flexible, and able to fill in the gaps that the Big Ag monster leaves. 4)Someone in a Small Ag household usually has a “day job.” In order to keep the lights on during the “rough times.” 5)Not allowing losses from the farm to be recovered from the “day job” side negates the purpose of having one. 6)Aging Baby Boomers are buying retirement houses that happen to have farms attached. They try to offset farm expenses, like a new side by side, against income when they aren’t actively farming. Leasing the land to someone else isn’t enough. The evil eye of the IRS notices and they get themselves audited. (At least that’s what my accountant says.) ETA: I haven’t had any losses or expenses big enough that it mattered for a long time. Quote HistoryQuoted: Quoted: So, if a person had earnings from a regular job (W2) taxable income of say, $200k, and they also have a farm with an income (loss) of -$150,000, does that mean that they are taxed overall on an income of $50,000? I understand it’s highly complicated and requires an accountant, but in general, is this how it works? Apologize for the stupid question, but it’s a difficult thing to learn about. How about, It depends. You can offset Net Operating Losses against Taxable income within boundaries. https://www.irs.gov/publications/p536#en_US_2020_publink100044586 The Gov recognizes that: 1)People need food and Not all food can be imported. 2)Big Ag doesn’t supply enough in the right channels to ensure an adequate food supply. 3)Small Ag is nimble, flexible, and able to fill in the gaps that the Big Ag monster leaves. 4)Someone in a Small Ag household usually has a “day job.” In order to keep the lights on during the “rough times.” 5)Not allowing losses from the farm to be recovered from the “day job” side negates the purpose of having one. 6)Aging Baby Boomers are buying retirement houses that happen to have farms attached. They try to offset farm expenses, like a new side by side, against income when they aren’t actively farming. Leasing the land to someone else isn’t enough. The evil eye of the IRS notices and they get themselves audited. (At least that’s what my accountant says.) ETA: I haven’t had any losses or expenses big enough that it mattered for a long time. Thanks, so based on that, it would seem prudent to buy something which is relatively low maintenance. Tree farm rather than Hog farm. That sort of thing. |
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Posted: 10/21/2021 11:53:02 AM EDT
[#39]
Quote HistoryQuoted: I haven’t read all 4 pages of replies. Maybe this was posted already. You can go here: https://farm.ewg.org/ Thanks. That was posted here a few years back. We operate ours without any finance, pay some expenses and take 20 or 25 percent of the earnings. I’m fuzzy on it, and most other things honestly. Mostly we just drive over and look at it or talk with the farmers. Showing about a quarter million in subsidies over the entire 1995-2020 period. Our two closest associates received over three million. But they actually sweat and bleed for it. Both have other businesses to help make a living. |
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Posted: 10/21/2021 11:58:36 AM EDT
[#40]
Quote HistoryQuoted: To be fair that also applies to "commercial" vehicles which is a hell of a cost difference and easily abused. Sure, I was basically saying you don't have to actually farm to put local tags on something. One kind of crazy thing is if I wait until April to license my semis, I don't have to get any state inspection done. Sort of scary considering we're all overloaded barreling down the highway. |
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Posted: 10/21/2021 12:07:41 PM EDT
[#41]
Quote HistoryQuoted: I haven't read all 4 pages of replies. Maybe this was posted already. You can go here: https://farm.ewg.org/ And do a little digging there to be able to search by zip code which farmers in your area are getting what $$$ amount in subsidies. Which brings me to my next point.well points actually. So not only are farmers getting propped up on the supply side by government subsidies (your tax money), but they are also getting propped up by the demand side. When Shaniqua the hoodrat (with the fake 3 inch long plastic claws for finger nails, the Tammie Fae Baker tarantula eyes fake eyelashes, the fake blonde braid hair extensions, and the neck and titty tats. How is she able to pay for all that?) pulls out her EBT card or her Illinois LINK card (your tax money) at the grocery store she is artificially increasing demand for food items. Also.get this.this is the real kick in the financial nuts Because you are basically competing against Shaniqua for food items, those food items cost you more. But she doesn't give a fuck what they cost because it's not her money paying for them. And in fact for you, the hard working income earning ARFcommer that you are, it is a bit of a "double whammy". Your taxes are higher because you gots to pay the Shaniquas all across the USA for their groceries, so that leaves you with even less money in your pocket to actually be able buy those groceries (or night vision. Or thermal.). And once you get to the grocery store, what money you still have left in your pocket doesn't go as far because Shaniquas everywhere are inadvertently jacking up the prices. So, if I could wave my magic wand and POOF! overnight EBT and Link and WIC, and SNAP went away, I could cut you'alls grocery bill at least by half because prices will drop. Quote HistoryQuoted: Quoted: As per the USDA Farm households typically receive income from both farm and off-farm sources. Median farm income earned by farm households is estimated to decrease in 2020 to -$1,248 from $296 in 2019, and then forecast to decline further to -$1,387 in 2021. That is very eye opening. And more power to you guys who have the land and time to pull this off. Kudos! I haven't read all 4 pages of replies. Maybe this was posted already. You can go here: https://farm.ewg.org/ And do a little digging there to be able to search by zip code which farmers in your area are getting what $$$ amount in subsidies. Which brings me to my next point.well points actually. So not only are farmers getting propped up on the supply side by government subsidies (your tax money), but they are also getting propped up by the demand side. When Shaniqua the hoodrat (with the fake 3 inch long plastic claws for finger nails, the Tammie Fae Baker tarantula eyes fake eyelashes, the fake blonde braid hair extensions, and the neck and titty tats. How is she able to pay for all that?) pulls out her EBT card or her Illinois LINK card (your tax money) at the grocery store she is artificially increasing demand for food items. Also.get this.this is the real kick in the financial nuts Because you are basically competing against Shaniqua for food items, those food items cost you more. But she doesn't give a fuck what they cost because it's not her money paying for them. And in fact for you, the hard working income earning ARFcommer that you are, it is a bit of a "double whammy". Your taxes are higher because you gots to pay the Shaniquas all across the USA for their groceries, so that leaves you with even less money in your pocket to actually be able buy those groceries (or night vision. Or thermal.). And once you get to the grocery store, what money you still have left in your pocket doesn't go as far because Shaniquas everywhere are inadvertently jacking up the prices. So, if I could wave my magic wand and POOF! overnight EBT and Link and WIC, and SNAP went away, I could cut you'alls grocery bill at least by half because prices will drop. The EBT, etc., is government subsidy at work. The corporations that sell more on the government dime can keep prices lower as they can rely on easy sales through EBT (processed foods, mostly). Take that away and costs will rise so they can maintain their profit margin. |
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Posted: 10/21/2021 12:08:21 PM EDT
[#42]
Quote HistoryQuoted:
/media/mediaFiles/sharedAlbum/confused-britney-spears--83.gif What am I missing? how is this different than any other business? I can buy new cranes and welding machines instead of a tractor. I can get myself a new truck. If I spend or reinvest all of my earnings....wait for it....I have no earnings. But, who wants to run a business and have no earnings? I actually own and run a business and I have no idea what you're getting at. What am I missing? |
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Posted: 10/21/2021 12:34:02 PM EDT
[#43]
Quote HistoryQuoted: Thanks, so based on that, it would seem prudent to buy something which is relatively low maintenance. Tree farm rather than Hog farm. That sort of thing. Farming/Ranching has to be a “labor of love” and requires a special sort of crazy, otherwise you will feel overwhelmed, overworked, and overextended. Of the two, tree farm or hog farm, I’d choose trees. I’ve always wanted a Christmas Tree farm, but I can’t grow the kind of trees I like in my zone. Hogs stink. Even a tree farm requires work. Personally I like looking out on well groomed pastures with cows lumbering along lazily in them. My cow pastures look like parks compared to most of my neighbors, but I don’t see it as work. For me its a pleasure and an accomplishment. I call it my church. I talk to god a lot while I’m out there husbanding what he has placed upon my plate. I would not enjoy owning acres and acres of trees. That labor, for me, would be nothing but work. May you find your own farming fit, if you so desire. |
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Posted: 10/21/2021 5:49:43 PM EDT
[#44]
Quote HistoryQuoted: What's wrong with having some land and using it as a tax shelter? Fuck the thieving government and their relentless taxation of everything. They created these tax havens, they can fuck off. Exactly. Play by the rules, get criticized anyway. |
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Posted: 10/21/2021 6:24:40 PM EDT
[#45]
Quote HistoryQuoted: Costs would actually go up. The EBT, etc., is government subsidy at work. The corporations that sell more on the government dime can keep prices lower as they can rely on easy sales through EBT (processed foods, mostly). Take that away and costs will rise so they can maintain their profit margin. BritneySpearsTiltingHead,gif |
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Posted: 10/21/2021 6:34:05 PM EDT
[#46]
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Posted: 10/21/2021 6:41:50 PM EDT
[#47]
Yh well there are rules (what qualifies you to get ag exemption on land, needed to turn a profit a certain number of years within a certain time period to be able to be claimed as a farm/ranch for tax purposes with the irs etc) that you are supposed to abide by to keep your ag exemption and tax benefits. If you don't the local county and irs will pull them and love you tenderly. Its to keep hobby farmers from trying to take advantage.
Dont know how well they are enforced though. We have had our cattle ranch for just over a year. |
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Posted: 10/21/2021 6:42:45 PM EDT
[#48]
You will own a postage stamp of land and you will love it.
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Posted: 10/21/2021 6:46:52 PM EDT
[#49]
My dad and uncle have farmed since the 60's. Neither are rich, and will both probably work til the day they die with nothing more than a life of toil to show for it. The farm was nearly destroyed by Carter's policies and it's taken ever since then to get it halfway back on the rails. Last year was the first time my parents could afford a new car (nothing special) since Carter. I'm sure the corporate farms are flush, but that doesn't aoply to everyone.
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Posted: 10/21/2021 7:47:31 PM EDT
[#50]
Quote HistoryQuoted: Yep. Most farms can operate at a net loss for some years in a row. Subsidies help, and the wife working full time while the farmer does some trucking, custom farming, or drainage/excavation to bring in additional income helps as well. Then you get a spike in grain prices, like 2012, & 2021. Those spikes can wipe out a lot of debt, operating loans, provide funds for equipment, infrastructure, & land investments, and provide "income" for a few years down the road for the farm family. I know a few old boys that just spent the last of their "2012 money." Guys that had old crop in the bins yet this summer were able to take advantage of some historically high grain prices and also were able to contract some new crop at those prices before prices retreated slightly. $5 corn is profitable. $4 corn is barely break even. Most of the farmers I know just want to net enough money to raise their family while building an operation that can be handed off to the next generation. Occasionally a farmer cashes out. Usually because there's no son or daughter positioned to take over. Sells the equipment, the grain bin site, maybe a few quarters of ground, and buys a lake home. Takes cash rent off the remaining land. Some never cash out and their kids get rich selling the land after ma and pa are dead. I'm signed up for an online land auction that starts tomorrow. 3 siblings selling off the family 320 acres. Likely will go for over $10K/acre. Each daughter grosses a million. Their dad would much prefer his kids got the money anyways; he wasn't the type to really care. Just wanted some old tractors to tinker with and some corn in the bin come end of harvest. Even worse you end up with fractional ownership in a land trust three generations later. Everyone gets a little check most years even though only two of my cousins run the operation day to day while working full time jobs. I'll pull a grain cart or drive the truck to the elevators come harvest but farming really isn't anything I wanted to pursue. None of the rest of the family has dick to do with it other than holding their hands out at the end of the year. Only time I ever got any real money out of it was when IDOT and Walmart bought some ground. Fortunately I expect the developers are going to be pounding on the door soon with serious offers. We had some low ballers already but none were enough to get everyone in agreement to cash out yet. |
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