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Posted: 10/22/2021 12:09:09 PM EDT
[#1]
Ag exemption here. 150 acres that I lease grazing rights to my neighbor. He gets grass and water for his cattle and I get an ag exemption, a lawn mowing service and a little money. Plus I purchased my side by side , trailer, and a few other things using my ag exemption. Have to check and maintain the fences, gates etc.
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Posted: 10/22/2021 12:18:03 PM EDT
[#2]
Quote HistoryQuoted: I really hate the scenario where the daughters just hate the farm, being in the sticks sucks, I want out of here. Go off to college after high school, move to the city, live a feckless suburban life for 30 years. Then something happens to the parents and they all of a sudden realize this nasty gross farm is actually worth some money and want their equal share from the sibling that has been working on it those 30 years. I've seen this play out more than once. Yep. Our land was bought by my great grandfather over 100 years ago. It has several family members involved and a few have been making noises about wanting their money out of the land. Luckily, it's set up so that 75% of shares have to approve through a vote if any of the shares are to be sold, and those of us who live here and keep the place up hold well over enough interest to keep the place. |
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Posted: 10/22/2021 12:23:55 PM EDT
[#3]
Quote HistoryQuoted: You didn't think of it before because: 1. You need a better accountant, preferably one that owns some franchise restaurants, as he has those to show a loss. 2. Despite the scheme being a net positive financially and legal, it feels grimy. -Mexicans swarming north and being handed Free Shit. -25% raise to EBT for worthless demographics. -Hundreds of billions pissed away in foreign aid. -Billions in equipment handed to the Taliban. What does it take to make folks understand that the Government is irredeemably corrupt and that we shouldn't willingly give them a dime? |
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Posted: 10/23/2021 10:45:00 PM EDT
[#4]
Quote HistoryQuoted: Your salary also adds into this. Some people forget this. Form an LLC and pay yourself. You can even go on unemployment. Wow. The simple people (us) miss out on so much. 
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Posted: 10/23/2021 10:48:11 PM EDT
[#5]
Most farmers have nicer shit then me
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Posted: 10/23/2021 10:52:06 PM EDT
[#6]
Quote HistoryQuoted: "Grimy" LOL -Mexicans swarming north and being handed Free Shit. -25% raise to EBT for worthless demographics. -Hundreds of billions pissed away in foreign aid. -Billions in equipment handed to the Taliban. What does it take to make folks understand that the Government is irredeemably corrupt and that we shouldn't willingly give them a dime? Foreign aid is about $39B a year or under 1% of the budget. |
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Posted: 10/23/2021 11:16:26 PM EDT
[#7]
I like food, so I am cool with the current situation. OP probably does not think, GM, WM, Tessa and every other business in the USA gets tax breaks.
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Posted: 10/24/2021 12:59:58 PM EDT
[#8]
Seems like some of the Canadiens are paying attention
https://www.straight.com/news/4-goats-dont-make-a-farm-board-upholds-14-million-residential-assessment-of-agricultural-land?utm_source=facebook&utm_medium=social&utm_campaign=hootsuite&utm_content=the+georgia+straight&fbclid=IwAR1TYAT4LcjoJW8Vt2PQ-QRWzqS7d9gkYwbHY9vZhCqAdzfbEecuimvVkuw They would not let a couple claim farm land exemption for just four goats. |
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Posted: 10/24/2021 5:07:35 PM EDT
[#9]
Quote HistoryQuoted: Does anyone here have any knowledge of CRP conservation reserve program? Was thinking about putting 80 acres in but I’m not sure the tax ramifications. I'd personally think long and hard about putting ground into CRP. Has your local FSA office told you what it pays? I put some land into CRP before I knew any better and was locked in for 10 years over the course of which it turns into weeds and tree sprouts that you have to stay on top of. If it's too thin to grow a crop, I'd consider putting it to pasture and renting. Again this is my personal opinion. Tax wise, you'll get a statement from the FSA showing what they paid you to take to your tax accountant. I never asked but I assume it goes into my other farm income. There will be costs associated to initially drill the prescribed grasses. |
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Posted: 10/27/2021 2:16:29 PM EDT
[#10]
Quote HistoryQuoted: Seems like some of the Canadiens are paying attention https://www.straight.com/news/4-goats-dont-make-a-farm-board-upholds-14-million-residential-assessment-of-agricultural-land?utm_source=facebook&utm_medium=social&utm_campaign=hootsuite&utm_content=the+georgia+straight&fbclid=IwAR1TYAT4LcjoJW8Vt2PQ-QRWzqS7d9gkYwbHY9vZhCqAdzfbEecuimvVkuw They would not let a couple claim farm land exemption for just four goats. That is how it works here as well. There are requisites to be considered a farm. If you don't meet them your agricultural exemption gets pulled. Now I dont know how often they do these checks. |
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Posted: 10/27/2021 2:33:09 PM EDT
[#11]
Quote HistoryQuoted: Foreign aid is about $39B a year or under 1% of the budget. Please explain to me why foreigners should get a dime of our money when our Government is sinking us with debt? |
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Posted: 10/27/2021 2:41:48 PM EDT
[#12]
Quote HistoryQuoted: Please explain to me why foreigners should get a dime of our money when our Government is sinking us with debt? That’s not my point. My point is the total is almost inconsequential. The truth is that some foreign aid has been useful and some hasn’t. |
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Posted: 10/27/2021 3:11:49 PM EDT
[#13]
Quote HistoryQuoted: That's not my point. My point is the total is almost inconsequential. The truth is that some foreign aid has been useful and some hasn't. LOL |
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Posted: 10/27/2021 3:54:13 PM EDT
[#14]
Quote HistoryQuoted: Please explain to me why foreigners should get a dime of our money when our Government is sinking us with debt? Quote HistoryQuoted: Quoted: Foreign aid is about $39B a year or under 1% of the budget. Please explain to me why foreigners should get a dime of our money when our Government is sinking us with debt? In the end, many things are a small part of the budget. And we still continue to spend, one small part at a time. |
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