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western iowa,by Denison | the bad deal now is to buy that farm -say 80acres takes more after tax money to buy-at 10,000k acre it takes 800,000--back up to the 1980 time frame it took $80,000--throw yourself into the tax today-in Iowa it adds up to paying a lot of taxs to have cash to even make a down payment-State of Iowa takes about 20-30% of what the federal does--not to hard to get into 50% tax bracket in Iowa-back in the 80's if you had 320 paid for you could keep going-today having 320 paid for you might go backwards by the time you pay tax's (land tax)and health care
I would probably by a farm in non state tax state-and move there-what a guy could save on Iowa tax would pay for a farm in South Dakota-I know a guy that did just that! | |
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What would you have to see to be a land buyer now?
