Mahoney Pursley Ranch":zefj1fv3 said:It has been said here many times that being in the cattle business is a good tax shelter. Do any of you people form a Corp. or LLC in the ranch name ?
D.R. You're right about thatD.R. Cattle":29hbxyrn said:I haven't figured out what the shelters are yet and I've been INC for several years. At the end of the year, you will get taxed on all profit just like anyone else. We need to hear it from Arnold Ziffle, who is a CPA and a cattleman if I am not mistaken.
Arnold Ziffle":b7nq4vf6 said:Never spend money on cattle business related things just because they happen to be deductible.
SPRINGER FARMS MURRAY GRE":981bcgn5 said:Most importantly, please remember that this just allows you to keep a little bit more of your own money....the goverment is not "giving" you a be nice thing! :cboy: