lavacarancher
Well-known member
Jo, Angus, not disagreeing with you about the CPA but I think there's maybe something else going on because I changed accountants a couple of years ago and the first thing he asked me when he saw that I had a day job was "how many head are you running". When I told him about 125 he said that's OK, that I wasn't a "hobby rancher".
Someone else eluded to this earlier in the discussion about folks buying up land for the sole purpose of getting a tax shelter. I don't think our new administration takes to kindly to that.
In my area of Texas something has sure caused the price of land to sky rocket and I'm thinking it has to do with oil and gas more than anything. Ten years ago you could pick up unimproved land for $600 to $1000 per acre. Now you'd be lucky to find anything for less than $7000 per acre - without mineral rights. And with the recent discovery of the Eagle-Ford shale (oil and gas) I would expect it to go even higher. With land selling for that much it's hard to imagine anyone making a living, let alone a profit, growing or raising anything except maybe pot. :shock:
Someone else eluded to this earlier in the discussion about folks buying up land for the sole purpose of getting a tax shelter. I don't think our new administration takes to kindly to that.
In my area of Texas something has sure caused the price of land to sky rocket and I'm thinking it has to do with oil and gas more than anything. Ten years ago you could pick up unimproved land for $600 to $1000 per acre. Now you'd be lucky to find anything for less than $7000 per acre - without mineral rights. And with the recent discovery of the Eagle-Ford shale (oil and gas) I would expect it to go even higher. With land selling for that much it's hard to imagine anyone making a living, let alone a profit, growing or raising anything except maybe pot. :shock: