Posted by LAA on July 24, 2012 at 10:51:20 from (86.51.147.113):
In Reply to: farm sale posted by Dale in IN on July 24, 2012 at 06:27:36:
In my area the high priced land is selling to long established farmers with money, corporate farming operations and investors with cash looking for a respectable return and a little favorable tax relief. People subject to high capital gains taxes like farm land for several reasons, roll over the money and defer paying the tax, make income from the land in the meantime and maybe the tax rates will go down, even if land values go down and you sell it you still pay less tax on the original gains, you would be surprised how many people would rather do business and lose money than pay taxes. Having land available to rent is not a bad deal when you consider that it is about the only way for a young independent man to get started these days.
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Today's Featured Article - An Old-Time Tractor Demonstration - by Kim Pratt. Sam was born in rural Kansas in 1926. His dad was a hard-working farmer and the children worked hard everyday to help ends meet. In the rural area he grew up in, the highlight of the week was Saturday when many people took a break from their work to go to town. It was on one such Saturday in the early 1940's when Sam was 16 years old that he ended up in Dennison, Kansas to watch a demonstration of a new tractor being put on by a local dealer. It was an Allis-Chalmers tractor dealership,
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