All true. But here, the corporation (most are incorporated) is passed down thru the family.
I was office manager for a corporate farm before I took my present "retard" job. EVERYTHING -- almost down to the purchase of toilet paper -- was charged against the corporation and was a tax write-off. This farm was at least three generations old. Even the houses where the owners lived were owned by the corporation. They didn't get a salary --- they got an Owner's Draw each month. (Lawyers, feel free to pipe in on this one.) A new guy starting to farm? Forget it. He wouldn't live to break even. A three or four generation farmer who already owns the land? Big bucks. On Tue, Apr 15, 2008 at 9:18 PM, Mitch Haley <[EMAIL PROTECTED]> wrote: > Wonko the Sane wrote: > > Ya know, I've lived in Iowa for more than a decade now, and I've yet to > meet > > a poor farmer. They have bigger houses than I have, drive new cars (some > a > > Benz), and seem to be well off. Most have assets in seven figures (or > > more), clear title. > > Back in the early 70's (before OPEC tested out its muscles) I remember > a farmer saying "I don't know how the young guys are supposed to get > started these days. If you don't already have $100k in the bank, forget > it." That number was simply mind-boggling to me, we're talking 20 > Corvettes here. These days I don't think $100k will buy you a good > combine. > > Mitch. > > _______________________________________ > http://www.okiebenz.com > For new parts see official list sponsor: http://www.buymbparts.com/ > For used parts email [EMAIL PROTECTED] > > To Unsubscribe or change delivery options go to: > http://okiebenz.com/mailman/listinfo/mercedes_okiebenz.com > -- LT Don http://don.homelinux.net/~don/ apt-get update apt-get upgrade The following packages will be replaced Prez Do you want to continue? [Y/n] Y _______________________________________ http://www.okiebenz.com For new parts see official list sponsor: http://www.buymbparts.com/ For used parts email [EMAIL PROTECTED] To Unsubscribe or change delivery options go to: http://okiebenz.com/mailman/listinfo/mercedes_okiebenz.com
