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Indiana | Thanks for that info. I had forgot about paying a salary which allows u to avoid paying SS tax on the remainder. But I am going to try and manage my operator earnings through depreciation from the equipment I buy and rent paid to the land owner (myself). Paying ur self a salary involves all those state and federal payroll tax,payments which are a pain. I realize those with big incomes may need to do it. I’m just a hobby farmer.
Another avg of having land in an LLC is if you have other assets/businesses in ur personal name and you get sued they cannot attach to the Land.
Edited by Fetv 2/21/2021 07:26
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What business structure to put farm in
