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Making money on cattle
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<blockquote data-quote="Caustic Burno" data-source="post: 103015" data-attributes="member: 694"><p>Money can be made in cattle just not what you think your making.</p><p>Running cattle is a lifestyle, what I was trying to explain to you is yes you can depreciate equipment, you still have the intial cash outflow. you now own a piece of equipment that has value that can be deprciated over 5,7 or 10 years. This is not income on a dollar for dollar basis. The depreciation value is deducted from your annual gross income which is a tax savings of maybe 20 cents on the dollar. Appreciation is not income unless the appreciated property is sold.</p><p>AZ could do a much better job at this. </p><p>It's great if you want the lifestyle, you need to go in with your eyes open.</p></blockquote><p></p>
[QUOTE="Caustic Burno, post: 103015, member: 694"] Money can be made in cattle just not what you think your making. Running cattle is a lifestyle, what I was trying to explain to you is yes you can depreciate equipment, you still have the intial cash outflow. you now own a piece of equipment that has value that can be deprciated over 5,7 or 10 years. This is not income on a dollar for dollar basis. The depreciation value is deducted from your annual gross income which is a tax savings of maybe 20 cents on the dollar. Appreciation is not income unless the appreciated property is sold. AZ could do a much better job at this. It's great if you want the lifestyle, you need to go in with your eyes open. [/QUOTE]
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