Whos dropped out of EQUIP?

[Brian662]

I don’t use him as my moral compass. But with that said as @356 said I think getting tax breaks would benefit us more in the long run. Look I don’t fault anyone for taking advantage of these programs, I just think they are not needed societally.

Yeah, I agree but there are ramifications to everything. The next four years are going to very interesting.

 

[T-Max]

I don’t use him as my moral compass. But with that said as @356 said I think getting tax breaks would benefit us more in the long run. Look I don’t fault anyone for taking advantage of these programs, I just think they are not needed societally.

The PPP “loans” broke me. Some of the richest people I know got those without missing a beat. Their businesses were unaffected by anything. Throw in the fact that every farmer around here got one for the max amount? They all got fat and happy and I got d i c k. I have since applied for and used every ridiculous government program I can qualify for. My dad got real mad when he found out I got my student loans forgiven through the PSLF program that’s been around for a long time. I asked him how he felt writing himself paychecks for the first time ever for the PPP cheese, and reminded him the gov pimps gave him twice what I got. Thanksgiving was very tense that year…


Sent from my iPhone using Tapatalk

 

[Brian662]

I'm not sure the size and scope of what they're doing right now with the federal money, but if they have contracts in place they should be honored. I backed out on a signed contract for CRP for a multitude of reasons and had to pay a fine for doing so. That better go both ways.

Agree wholeheartedly the size and scope of the federal govt needs to be decreased but it can be done at budget time with a systematic approach. Chaos and panic isn't the way.

 

[Brian662]

The PPP “loans” broke me. Some of the richest people I know got those without missing a beat. Their businesses were unaffected by anything. Throw in the fact that every farmer around here got one for the max amount? They all got fat and happy and I got d i c k. I have since applied for and used every ridiculous government program I can qualify for. My dad got real mad when he found out I got my student loans forgiven through the PSLF program that’s been around for a long time. I asked him how he felt writing himself paychecks for the first time ever for the PPP cheese, and reminded him the gov pimps gave him twice what I got. Thanksgiving was very tense that year…


Sent from my iPhone using Tapatalk

Same, I never considered using these programs until after they handed money out to everyone during covid. Unless of course you make too much money or kept a job because you were "essential".

Millions upon millions INCREASING their standard of living for months completely on the govt dole and I should worry about $2,000 creek crossing I had to jump through hoops to even qualify for that only covered roughly half the expense? Nah

 

[SD51555]

Same, I never considered using these programs until after they handed money out to everyone during covid. Unless of course you make too much money or kept a job because you were "essential".

Millions upon millions INCREASING their standard of living for months completely on the govt dole and I should worry about $2,000 creek crossing I had to jump through hoops to even qualify for that only covered roughly half the expense? Nah

That never made me mad until now. I could have gotten a lot done with 4 months off and a 50% raise while I'm off.

You should have heard how pissed my front desk girl was when I called her and told her she had to come back. South Dakota never shut down, and she was hanging out at the swim up bar every day at a water park in June and July. She had to come back to work and her don't-work bonus went away.

 

[Brian662]

That never made me mad until now. I could have gotten a lot done with 4 months off and a 50% raise while I'm off.

No doubt about that.

 

[Howboutthemdawgs]

Like you T I know some extremely wealthy folks who made 6 plus figures on ppp loans and their guys never missed a day of work. It’s disgusting

 

[Cool Hand Luke]

I've not enrolled in anything but have the perfect opportunity to put 75% of our newly acquired old family farm into something with the government. My neighbor and his family who's done a ton of it argues with me and says I'm crazy because it would pay for my property taxes. I tell him, "yeah but then the government gets to tell me what I can and can't do with my land for the next decade." No thanks...

 

[T-Max]

Like you T I know some extremely wealthy folks who made 6 plus figures on ppp loans and their guys never missed a day of work. It’s disgusting

I could probably find it if I tried, but there was a website where you could look em all up. All the farmers sat at Stacy’s Diner and bitched about everyone on the government teet. The dirty secret was they all were at that very moment! The hypocrisy was maddening. An old farmer once asked me if I knew why farmers had a bend in the bill of their hat. He put both hands over the bill of his and said it was from looking in the mailbox for the government check…


Sent from my iPhone using Tapatalk

 

[Brian662]

I could probably find it if I tried, but there was a website where you could look em all up. All the farmers sat at Stacy’s Diner and bitched about everyone on the government teet. The dirty secret was they all were at that very moment! The hypocrisy was maddening. An old farmer once asked me if I knew why farmers had a bend in the bill of their hat. He put both hands over the bill of his and said it was from looking in the mailbox for the government check…


Sent from my iPhone using Tapatalk

For a while you could just google someone's name and if they took PPP money it just came right up, not sure if that's still the case.

 

[T-Max]

I also recently reached out to the FSA regarding their “new farmer and rancher” loans. A piece I’m interested in buying contains roughly 85 acres of grass and 25 acres of tillable land. In order to qualify for their low interest loans I would need to be the “producer” on the land. No problem, we have cattle and I would just buy some to run on the grass and cash rent the tillable. No sir. I have to be the producer on the tillable as well. After doing some asking as to what that looked like, basically I would need to do a fully insured corn/bean rotation on it myself. Guess it’s not in the cards for me. Regular loans it is!


Sent from my iPhone using Tapatalk

 

[Howboutthemdawgs]

On top of that, I got a letter in the mail from the irs this week over some $2000 “income” on an investment account from 2021 that apparently I didn’t claim? I don’t know anything about it, I turn in everything I get from any account to my accountant. So regardless I’ll owe this plus a penalty and there’s guys with 9 figure net worth I know of that got ppp money and the government doesn’t bother with them. Or like you said, farmers who didn’t miss one single beat from Covid that just collected a bonus check all the while bitching about the government and welfare bums getting paid for nothing.

 

[Hoytvectrix]

I don’t use him as my moral compass. But with that said as @356 said I think getting tax breaks would benefit us more in the long run. Look I don’t fault anyone for taking advantage of these programs, I just think they are not needed societally.

I think these types of programs are actually programs designed to address a problem that a free market would never solve, and with that in mind, one of the few government programs that is "needed". Now it is perfectly reasonable to question which types of programs are actually doing a whole lot of good, but CRP/CSP and EQIP were started because the trajectory of soil loss in states like Wisconsin was so dramatic. If not addressed, that soil would be gone forever, polluting streams and aquifers in the process. It takes 1000 years to form an inch of topsoil in the Midwest. It took less than 200 years to degrade soils by more than 40% by farmers who were doing nothing illegal, providing for their families, and were at that time the largest employer in the US.

Even without programs like EQIP we are still not likely to see that level of soil loss again (thanks in part to soil conservation research). But they still serve a purpose as an ecological safety net. Who knows, maybe in 500 or 1000 years the US will still have some of the most productive soil in the world, and with any luck people will still be able to chase wild game that is supported by that soil we are conserving for future generations.

 

[Mortenson]

I also recently reached out to the FSA regarding their “new farmer and rancher” loans. A piece I’m interested in buying contains roughly 85 acres of grass and 25 acres of tillable land. In order to qualify for their low interest loans I would need to be the “producer” on the land. No problem, we have cattle and I would just buy some to run on the grass and cash rent the tillable. No sir. I have to be the producer on the tillable as well. After doing some asking as to what that looked like, basically I would need to do a fully insured corn/bean rotation on it myself. Guess it’s not in the cards for me. Regular loans it is!


Sent from my iPhone using Tapatalk

Crop sharing wouldn't count?

 

[ksJoe]

Crop sharing wouldn't count?

definately worth checking that.

As I understand it, cash rent makes you a landlord, but crop shares gives you a "material interest" in the crop. So you're a farmer according to the government. Again, as I understand it, crop shares allows you to fully and immediately deduct qualifying farm equipment purchases. If you don't make a profit at it, the IRS will eventually declare you a "hobby farm" disallowing you from deducting future investments beyond each year's profit.

 

[Howboutthemdawgs]

definately worth checking that.

As I understand it, cash rent makes you a landlord, but crop shares gives you a "material interest" in the crop. So you're a farmer according to the government. Again, as I understand it, crop shares allows you to fully and immediately deduct qualifying farm equipment purchases. If you don't make a profit at it, the IRS will eventually declare you a "hobby farm" disallowing you from deducting future investments beyond each year's profit.

Sooo…I have been very conservative with my taxes when it come to my farm and equipment. I don’t write anything off in regards to that because I only receive cash rent. So your understanding is if I crop shared all of that could change? Not holding you to anything just seeing if that’s your understanding?
Maybe this is a topic for another thread

 

[ksJoe]

Sooo…I have been very conservative with my taxes when it come to my farm and equipment. I don’t write anything off in regards to that because I only receive cash rent. So your understanding is if I crop shared all of that could change? Not holding you to anything just seeing if that’s your understanding?
Maybe this is a topic for another thread

Yes, that is my understanding. I'm basing it off the questions turbotax asks, and some googling I did. I try to steer clear of anything questionable. As I recall, there's requirements about where the equipment is used. Like, you can't buy it for non-farm use and deduct it because you have a farm. For me, I own 1 property (other than our home). Its part ag, part hunting. I bought a tractor for working on that land. It stays there. Everything I could find said since the ag is done on shares, I'm a farmer and can deduct it.

If I sell it, whatever it sells for I believe is recaptured as income at that time.

If anyone has info to the contrary, I'd very much like to know it because I'd very much like to correct past tax filings rather than risk the IRS coming after me!

 

[Cool Hand Luke]

Yes, that is my understanding. I'm basing it off the questions turbotax asks, and some googling I did. I try to steer clear of anything questionable. As I recall, there's requirements about where the equipment is used. Like, you can't buy it for non-farm use and deduct it because you have a farm. For me, I own 1 property (other than our home). Its part ag, part hunting. I bought a tractor for working on that land. It stays there. Everything I could find said since the ag is done on shares, I'm a farmer and can deduct it.

If I sell it, whatever it sells for I believe is recaptured as income at that time.

If anyone has info to the contrary, I'd very much like to know it because I'd very much like to correct past tax filings rather than risk the IRS coming after me!

Don’t speak it into existence!!


Sent from my iPhone using Tapatalk

 

[SD51555]

I think these types of programs are actually programs designed to address a problem that a free market would never solve, and with that in mind, one of the few government programs that is "needed".

I understand where you're coming from, but I also don't think everyone would destroy their land because the government didn't pay them not to. You don't see this phenomenon with any other kind of property (other than industrial livestock) like homes, commercial buildings, manufacturing, etc. Sure there are exceptions, but they are not the rule. Those who do not properly care for their capital (like land, buildings, and resources) are quickly separated from them.

 

[Howboutthemdawgs]

I think these types of programs are actually programs designed to address a problem that a free market would never solve, and with that in mind, one of the few government programs that is "needed". Now it is perfectly reasonable to question which types of programs are actually doing a whole lot of good, but CRP/CSP and EQIP were started because the trajectory of soil loss in states like Wisconsin was so dramatic. If not addressed, that soil would be gone forever, polluting streams and aquifers in the process. It takes 1000 years to form an inch of topsoil in the Midwest. It took less than 200 years to degrade soils by more than 40% by farmers who were doing nothing illegal, providing for their families, and were at that time the largest employer in the US.

Even without programs like EQIP we are still not likely to see that level of soil loss again (thanks in part to soil conservation research). But they still serve a purpose as an ecological safety net. Who knows, maybe in 500 or 1000 years the US will still have some of the most productive soil in the world, and with any luck people will still be able to chase wild game that is supported by that soil we are conserving for future generations.

I agree with the premise. I just like as small a government as possible. Also doesn’t say much about the collective of landowners if we aren’t willing to do what’s right unless the government pays for it.