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Message
Small farm tax write off
Posted on 11/27/12 at 9:42 am
Posted on 11/27/12 at 9:42 am
I just inherited about 30 acres of rural land and I'm trying to decide what to do with it. After talking with friends, one of them suggesting putting cows on it, as a tax write off. What are some benefits or write off's that can be associated with putting a few cows on the property. Any other suggestions for what to do with the land. TIA 
1
Posted on 11/27/12 at 10:01 am to lsuguru
Posted on 11/27/12 at 10:31 am to Cdawg
We have 60 acres and decided to become pine tree farmers. We are currently clearing it and will be planting in Jan-Feb. I believe the advantage of doing timber is that you don't have to show a profit w/in 3 yrs. we are new to this, so we are kind of learning as we go.
Posted on 11/27/12 at 10:52 am to guttata
How many years are you looking at until a harvest date? 10? 20 years?
Posted on 11/27/12 at 12:59 pm to lsuguru
Yes, something like that. I believe a yr or 2 after we plant, they come over it a helicopter and spray it for bugs and the then the first thinning is done at about 7-8 yrs.
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