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<blockquote data-quote="aplusmnt" data-source="post: 192102" data-attributes="member: 1399"><p>You didn't get your money back you had to spend a pile to get some of your tax money back. Correct me if I am wrong AZ you get back about a quarter for every dollar yo spend.</p><p></p><p>Size of your herd has nothing to do with the size Cattleman you are. I have known some dang fine cattlemen that didn't own a cow.</p></blockquote><p></p><p>I might be wrong here but what I think Holland was meaning, is if you pay less taxes either in less property tax (ag excempt) or tax money sent to the IRS than what you normally would have if not having the cattle. Would that not work into adding to the bottom line in a way on the cattle. </p><p></p><p>Say Hypothetically you pay 10,000.00 in taxes and 2,000.00 in property taxes, but to ag exceptions that goes down to 7,000.00 and 800.00. That savings added to the calf crop sales could make it profitable for the Hobby/Part-time guys to bring their net family income up due to having the farm.</p><p></p><p>Ok not sure all that made since, and I do not know, next year is my planned year to start treating the cattle as a business. Realized from another post that that saleing the few calves we do as a hobby could lead to IRS problems so I will be converting over to hopefully a Part-Time cattle business instead of a Hobby for my kids show calves.</p><p>[/QUOTE]</p>
[QUOTE="aplusmnt, post: 192102, member: 1399"] You didn't get your money back you had to spend a pile to get some of your tax money back. Correct me if I am wrong AZ you get back about a quarter for every dollar yo spend. Size of your herd has nothing to do with the size Cattleman you are. I have known some dang fine cattlemen that didn't own a cow.[/quote] I might be wrong here but what I think Holland was meaning, is if you pay less taxes either in less property tax (ag excempt) or tax money sent to the IRS than what you normally would have if not having the cattle. Would that not work into adding to the bottom line in a way on the cattle. Say Hypothetically you pay 10,000.00 in taxes and 2,000.00 in property taxes, but to ag exceptions that goes down to 7,000.00 and 800.00. That savings added to the calf crop sales could make it profitable for the Hobby/Part-time guys to bring their net family income up due to having the farm. Ok not sure all that made since, and I do not know, next year is my planned year to start treating the cattle as a business. Realized from another post that that saleing the few calves we do as a hobby could lead to IRS problems so I will be converting over to hopefully a Part-Time cattle business instead of a Hobby for my kids show calves. [/QUOTE]
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