Some of the richest people I know raise cattle right next to their own oil wells.
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Why do people have cattle if its so unprofitable?
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Originally posted by RedBarn View PostHave any of you cattle guys introduced Akaushi to your herd? Full blood or cross breeding? After doing a little research it seems like a no brainer given the current market. Asking for a friend.
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Originally posted by JANKEII View PostNot going to get in an argument.
The majority of wildlife exemptions require working hand in hand with a government entity/worker and, I just prefer not to have them telling me what or how I can do something. Or spend money on a helicopter to survey what I have. Hope you understand.
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Originally posted by Texans42 View PostNope you just put it in CRP and make millions.... lol
I’d love for someone to show me how a declining insurance basis is more profitable then harvesting. It’s doesn’t work that way, but bob’s friend jorge’s uncle scam farms for insurance and make 100k a year in CRP, and nails the dought insurance predictions
“Just buy some row crop ground and lay it out. It’ll pay for itself! Farmer welfare!”
As far as the cattle stuff goes, if you have the land (and it’s good pasture...) you should be making a little money. It’s hard to make money up here if you’re buying ground to put cattle on. 2k+ An acre for good pasture is hard to recoup on. Take care of your grass and it’s an easy business in my opinion. There’s just not near as much to it as people make out.
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I guess you didn't read my first quote. I do get a tax break with a few cows.
Why not just stick them up in front pasture. Have the county come drive by and see the the cows and poop. Or sell a couple every couple of years showing you buy and sale them. Or right up a contract saying your friend is leasing the land.
What happens if money gets tight for some reason, and you can't do what the govt wants you to do. Will you lose your exemption
Easy to go from ag exemption to wildlife exemption. Not sure the other way around.
Originally posted by tdwinklr View PostI agree that it requires a little intervention from the gov. but holy cow why would you want to pay 1000s of $ in taxes when with the exemptions you might pay a few $100 per year? With wildlife exemptions, you only have to do 3 of 7 tasks in the TPWD list and all 7 of those are things you're going to do anyway on any game lease, and they're easy to accomplish. The biologist comes by once a year to look and that's it.
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Originally posted by meltingfeather View Postwhen you lose money you pay less tax
Let say for argument sake, that you lose $30,000 of real negative CASH flow, and you are in a 22% tax bracket. You will save $6600 in taxes.
So you spend $30,000 to save $6600??? Please explain how smart that is. I must be missing something.
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Originally posted by JANKEII View PostNot going to get in an argument.
The majority of wildlife exemptions require working hand in hand with a government entity/worker and, I just prefer not to have them telling me what or how I can do something. Or spend money on a helicopter to survey what I have. Hope you understand.
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Originally posted by Burnadell View PostI hope you realize that you don't get 100% tax savings.
Let say for argument sake, that you lose $30,000 of real negative CASH flow, and you are in a 22% tax bracket. You will save $6600 in taxes.
So you spend $30,000 to save $6600??? Please explain how smart that is. I must be missing something.
-john
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Longhorn can be pretty cheap to raise if you have good genetics and the calves will bring enough to make it worthwhile. They are much hardier (MUCH) than angus or other breeds of beef cattle. Though they return half of what a big beef cow would, they cost next to nothing. Cows rarely have birthing issues. Calves are up and running quick. Herd is very protective of newborns against predators. They'll eat a lot more native browse than other breeds. All that said, you can't make good money in cattle on small land. It's for the tax benefit and a little side income.
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Originally posted by Burnadell View PostI hope you realize that you don't get 100% tax savings.
Let say for argument sake, that you lose $30,000 of real negative CASH flow, and you are in a 22% tax bracket. You will save $6600 in taxes.
So you spend $30,000 to save $6600??? Please explain how smart that is. I must be missing something.
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