Columbia Basin, Ephrata, WA | SteigerSt320 - 1/4/2019 18:22
I know quite a few guys here that own land will rent land to themselves. Say 25 percent go to John Doe. 75 percent goes to John Doe. Or farm in a LLC and rent to your personal name or vice versa.
Also social security is taxed differently on land rental income.
Did you mean to say Jane Doe as one of those named above? Otherwise I don’t get the 75/25 split.
Having a farm operating entity rent all land can be a nice way to manage things, and eliminates a lot of the questions the OP asked. Over time one balance sheet shows how your operation is performing, one balance sheet shows how your investing is performing.
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I need a banksplination
