#225 - The Farm Tax Deduction That Gave A Rancher A $2.5 Million Dollar Tax Deduction
About this episode
This episode discusses significant tax deductions available to farmland owners, featuring insights from guest Alec Bean.
Welcome to the land podcast, a platform for people looking to educate themselves in the world of land ownership, land investing, staying up to date with current land trends in the Midwest, and hearing from industry experts and professionals. On today's episode, we are back in the studio with Alec Bean. We discuss: Section 180 has existed since the late 1950s. Excess soil fertility can create significant tax deductions. Most farmland owners have never utilized the deduction. Recreational farms with tillable acres can qualify. Timberland generally does not qualify. Active participation creates larger tax advantages. Some buyers use soil tests before making offers. Midwest farms commonly show $500-$2,500/acre in value. One client generated over $2.5 million in deductions. Data center money is creating major farmland demand. And so much more! Connect with Alec: www.soiltaxguys.com Thanks again for all of the support from our partners—none of this would've been possible without them! - Buck Land Funding: https://www.firstbankers.com/bucklandfunding -Hawke Optics | Use Code WHTL for 15% off: https://bit.ly/hawkeoptics_…
People in this episode
Host: Jake Hofer
Guest: Alec Bean
Sponsors
Buck Land Funding, Hawke Optics, OnX, Painted Arrow, Latitude Outdoors, Whitetail Master Academy
More episodes of The Land Podcast - The Pursuit of Land Ownership and Investing
- #229 - Should You Buy Land In An EHD-Hit Area Right Now? with Tyler Tissue
- #228 - Trading a Nice House for a Rundown Trailer On Purpose with Devin Cole and Nate Hicks of Painted Arrow
- #227 - He Bought Land With NO Legal Access... Here's How He Fixed It
- #226 - The First Habitat Projects Every New Landowner Should Do with Wesley Steege
- #224 - The Biggest Lessons From 5 Years Of The Land Podcast
Explore listener stats, chart rankings, contacts and more on the The Land Podcast - The Pursuit of Land Ownership and Investing podcast page.