Posted 11/10/2015 07:27 (#4887735 - in reply to #4887708) Subject: RE: Land sale today, new record......
JC STONE - 11/10/2015 07:11 Who buys land for $14,000 and how do they pay for it. Someone has or will have to pay a lot of income tax when generating the income to make the principle payments.
I agree that the income tax on $15,000 land would be rather large but as far as the guys buying it, around here it is mostly guys that already own a fair amount of land that is likely paid for or close to it.
A guy that owns 1000 acres with no debt is still putting a lot of coin in his pocket every year even with $3.50 corn and $8 beans obviously not as much as with $7 corn and $15 beans but its still very good for those guys.
Farm Income and Land
