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The guy running two head of cattle on 1 acre just so he can claim to be a "farmer" for the tax benefits will never have a profitable operation.
by bigfatkitten 2y ago
The guy running two head of cattle on 1 acre just so he can claim to be a "farmer" for the tax benefits will never have a profitable operation.
- bluGill 2y agoNot quite true. He can take that 2 head of cattle to the bank for a loan for 40 acres and that will make money - not a living but a profit. Then a few years latter more land and now he is a farmer. i work with a number of people on that plan. It is an open question how many will complete it and become full time farmers.
- forgetfreeman 2y agoThing is you can't get an ag exemption without provable business. Not sure what that looks like elsewhere but here you have to do a minimum of $10k gross sales. As small as that number is it's surprisingly difficult to hit fucking around.
- bigfatkitten 2y agoWhat passes muster will vary between jurisdictions of course, but there are many ways of making a company appear on paper as though it has turnover. A classic is where the proprietor writes the company a check, and then the company writes him a check for the same amount.