Kettle Moraine, WI | Brandon SWIA - 12/24/2024 11:06
Ballpark, take current farm assets (other than cash) x 50%, intermediate farm assets x 35% (no SE tax), long term farm assets-cost basis x 20% (depending on state cap gains). This is an extremely rough estimate.
This would be the explanation banks only lend 65% or 50%? They would have security of getting paid back and the remaining buffer would assure the government gets paid all their taxes. The owner would may have something at the end I depending on how the markets moved through liquidation.
I am of the belief farmers need to think they are rich to keep on farming while in reality they are operating on a tighter rope than they perceive. Good for the economy doing so.
Let's not forget tax policy can change quickly too. |
Balance Sheet-What's the point?
