Friday Cocktail

[SASKFARMER]

Made it to the Cayman.

[fjlip]

What would you do with the money?

You probably won't run out of money without cashing it?

All you have to worry about is inflation and that's worse if you cash.

Land values might drop off but only matters if your selling.

We won't run out, owning dirt and sons will in future, they can decide when we are gone.

$45 million, be crazy TAX, have a super accountant. Shame to hand half over to Turd and Company.

Remember the quote, after the sale your accountant says best investment/legacy is LAND? OOPS!

[SASKFARMER]

Land has done well!

[makar]

Land has done well!

I don't think even you could grow wheat on that.

[cropgrower]

What would you do with the money?

You probably won't run out of money without cashing it?

All you have to worry about is inflation and that's worse if you cash.

Land values might drop off but only matters if your selling.

First think that came to my mind was how much tax would have to be payed ?

[shtferbrains]

I read somewhere Bill Gates buys land to park money then borrows money to live on using the equity as collateral.
Gets a favorable rate and just pays the interest.
No tax because not income.

I know my accountant doesn’t like sharehoder loans more than a yr?

If not incorperated would that work?

[makar]

First think that came to my mind was how much tax would have to be payed ?

Assuming SF has his land incorporated even if he retires rent is taxed at 48% making it senseless to own it.

[LEP]

Assuming SF has his land incorporated even if he retires rent is taxed at 48% making it senseless to own it.

If the kids are farming he can do a freeze and take just enough dividends to avoid an oas clawback for him and the Mrs. for the rest of their life.

If both his boys are farming he just needs a good living. Plus the MNP treatment usually includes a family trust and a holding company to move the excess farm cash to keep farmco pure. Easy peezy.

Except SF3 needs to be able to retire on $182k family income.

It may not be the lifestyle he is accustomed to.

[makar]

The tax man is very patient, and he don't croak.

[checking]

[QUOTE=sumdumguy;n790623]

That Electric Shark drink recipe looks awesome. City driving in Regina is looney like Trudope. Many accidents. Almost every intersection has pieces of rear tail lights.

In other words, A + B = C

[SASKFARMER]

Ok isn't this look relaxing vs snow? Our timeshare condo in the Grand Cayman. Up to a month a year but we usually don't go and rent to relatives etc. I think we'll start flying further south in January eventually. 1.15 hour flight from Tampa.

[Hamloc]

Big outfit in my area selling lock, stock and barrel on richie's in a few days. 4 generations in making. That takes commitment.

Happytrails are you referring to the farm coming up for sale in Youngstown or a different one? I watched a short promo video on that one, looked like there was 2 sons involved, I am guessing in their mid forties, as well as the father. I always wonder what inspires people to sell what has taken generations to build.