"I bought a few cows for a write off"

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These same people buy $80k trucks they don’t need so they can save $20k on taxes.

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I saw a dave ramsey clip on ig where some woman said she and her husband financed a brand new vehicle specifically so they could deduct interest expense.

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IRS lets you lose money on a business for a few years before they deem it a hobby. If you start a farm operation the cost of the cows are an expense you can write off.

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People get pissed about farmers writing off "toys" but don't want to talk about working outside when its 15 degrees outside, or 110 heat index. They don't want to talk about working before the sun is up or past sunset because it is calving season.

Those people don't want to lift 50lbs bags of mineral into troughs or perform work on their tractors.

Yes, I write off our SxS depreciation, because I use it every dang day. We write off trailers because we use them.

We changed CPAs as the IRS had some issues which can be a giant pain to deal with. Still looking for another CPA as the we don't really like our new one.

Until about a decade ago, at least in certain Texas counties, if you had some number of split hooved animals (why they said cows and not horses), you could file a property tax exemption. I don't know all the rules, but there was a certain number of head per acre and possibly some other criteria.

The counties figured out how to steal more money some time ago and decided that if you wanted to be a farmer and be exempt from property tax, 51% of your income or more has to be made by the purpose of the tax exemption. So you must make 51% or more of your income from the cattle on your land to be eligible for the property tax exemption. And you must do it for some number of years (3 I believe) before you are eligible for property tax exemption.

All taxation is theft, but there is no bigger tax sham than property tax. Social Security isn't a "tax" by definition, but it's a close second to how politicians rob us.

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All taxation is theft, but there is no bigger tax sham than property tax.

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Property tax is the best tax, if one must be taxed.

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People get pissed about farmers writing off "toys" but don't want to talk about working outside when its 15 degrees outside, or 110 heat index

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???

Write off everything possible. No one here is against this. The government deserves exactly zero of your dollars.

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Said no property owner ever...

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From the "you never own" your land thinking it is lame.

However, property taxes effectively allow you to choose your tax rate by what land you choose to purchase. So in that way it is better vs income taxation.

Two people making the same income can have different tax liabilities depending on what they purchase.

This isn't a defense of property taxes existing. But in the real world taxes exist on numerous things so we can only judge them relatively to other taxes.

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If there is a tax, it should be a flat tax on consumption. No exceptions, no loopholes, no tiers, no minimums, no limits, no, no, no.

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Disincentivizes productivity and commerce. Horrible tax.

I know a family in Texas that started a “honey business” with bees to get the property tax reduced on the few acres they live on. I haven’t read into the actual rules and details.

Uni of Kentucky clarified it for you.

LINK