Just another weekend on the farm There is such a huge difference between the amount of work that goes into renting a dwelling place and owning one. Somebody’s going to call me on this so I’ll put my disclaimer here. One might say that I wouldn’t know the difference since we don’t technically own our place. That’s right, we’re squatters. We live in our place, keep the cows and everything else there but we don’t own it or pay rent. Nice, huh? In some ways, yes. We have, however put countless dollars and man hours into fixing things up on the place all of which benefits us but also increases the value of the property. The time is fast approaching when we will purchase the land. As with any major sale of farm property, the current owner will need to offset the income he receives from the sale with another major purchase to avoid a huge capital gains tax payment. We’re just waiting for all the players to fall into place. To be continued.......
Posted on: Sun, 16 Jun 2013 00:37:21 +0000
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