Calling any and all taxfags.
I'm looking to invest in a small piece of land, between 50 to 100 acres in the state of Alabama. My question is how do I claim this land as a farm so I can get a tax break?
What criteria do I have to meet, and what kind of break/return can I expect to see from doing this.
My main goal for the land is to turn it into a small hunting tract and lease it out to potential hunters. But I am willing to do other things to meet criteria for the best possible tax break.
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Tuscaloosa fag here. Rolltide. Sorry can't be more help.
regulations might differ.
the amount of live stock you take care of on your property.
and most likely how much land you have to grow crops.
look into registering with the USDA.
and any regulatory bodies of the state of alabama agriculture.
>how do I claim this land as a farm
write farm on tax sheet
I cant wait till i move back to northeast Alabama...just fence in a pasture and run cattle dude..
grow ornamental trees (don't know if that qualifies but if it does it would be easy). near zero maintenance. just mow the grass between rows every now and again. if grow seedlings in search of unique cultivars you don't even need to sell them. you could grow 10,000 + seedlings to find a cool/interesting variant
Op here
I fell in love with the land a few years back when me and some buddies went up on a hog hunt. Nothing like watching the sun rise sitting in a rocking chain with coffee
get some goats Chief, people love overpaying for goat dairy products
contact the FSA. They're the ones that 'officially' designate your land as a farm or not. Then contact the NRCS for free gibs (taxpayers will finance your fence and or hightunnel).
>Tuscaloosa fag here.
Your girls are A1. Not a big tide fan but my fraternity was founded there. ΦA
As for OP, I found this that might be helpful:
chubb.com
Also how much is land out there? I might have to follow you up on that, but probably in another state closer to home.
So far I've only done quick searches on Zillow but it seems like there's a decent collection of land available. Majority of the land available is in the northern half of the state however
This
What else will the NRCS gib me, can I use this money to pay for a structure such as a barn or tractor?
>on Zillow
Try loopnet. I always love searching there as when I finish college and my software business scales I use it to look for places that would be good offices in the future. They have a huge land tab too.
in texas you only need a couple cows. or, even better, you put a clover patch down or feeders and it becomes an untaxed wildlife preserve
I kinda want to look into this, I wonder if Alabama has something similar. It sounds much easier than going the farm route
It's that easy?
I live in western PA and everyone's already sold their mineral rights and the water is polluted
Sounds easy until the oil companies with the oil rights show up with a pumpjack to starting pumping
I want to buy some shit so far into the mountains I disappear for years and come back to sell my link into the singularity
Just can't stand it checking for updates and there isn't even a mainnet date
Maybe the conservation reserve program? I think you get paid for having your property forested and out of ag if the land meets certain criteria.
roll tide
I actually do this for a living. Get a conservation easement on it, look up what that is. If you have connections to wealthy people you can syndicate the easement and make a ton of money and huge tax breaks for rich investors.
You will need an attorney who specializes in this, but Atlanta has the best for this. I do these conservation easement all over the southeast. I think I've worked with one or two in Birmingham, but Atlanta has the best. This is 100% the solution to your question.