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EAST TENNESSEE market prices
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<blockquote data-quote="Brandonm22" data-source="post: 654652" data-attributes="member: 7645"><p>That was my point. IF your enterprise is losing money at $1.04 /lb you are still struggling EVEN at $1.30 /lb. To be a viable stand alone business, your breakeven needs to be $.90 or less and even there you will still lose money some years. </p><p></p><p>Yes, obviously property taxes on the ranch ARE a business expense you report on the Schedule F, though if you itemize you also have the option of taking all the property taxes on the Schedule A to calculate your personal exemption. It would be a case by case basis as to where you want that amount reported (just DON'T do both in the same tax year!).</p></blockquote><p></p>
[QUOTE="Brandonm22, post: 654652, member: 7645"] That was my point. IF your enterprise is losing money at $1.04 /lb you are still struggling EVEN at $1.30 /lb. To be a viable stand alone business, your breakeven needs to be $.90 or less and even there you will still lose money some years. Yes, obviously property taxes on the ranch ARE a business expense you report on the Schedule F, though if you itemize you also have the option of taking all the property taxes on the Schedule A to calculate your personal exemption. It would be a case by case basis as to where you want that amount reported (just DON'T do both in the same tax year!). [/QUOTE]
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