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Thoughts on all the talk/complaining about taxes/estate tax on here.
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NDCommodities
Posted 12/5/2012 10:52 (#2734154 - in reply to #2734148)
Subject: Depending on your tax liability for the year?


News to me ( thx for correcting).

Although, doesn't your tax liability for that depend on your P&L for the year. If you recieve a $250,000 insurance check. and are able to roll/pencil so you have a $220k loss without the check. Aren't you only paying on the 30k that actually counts as net income?

Any more info? (cause I am curious to be honest)

Like I said, I don't mind anything about the farmers tax setup, hell my ultimate goal is to be entirely into 1031'able assets and do the same moves myself.

Edit* - and as Itchy said... say you pay and pay and never collect... Do you pay taxes on the physical subsidy they pay for every year?

Edited by NDCommodities 12/5/2012 10:54
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