I live next to farmers. Everything they do and own is a business expense. The business owns everything. Home, cars, utv, electric, propane, internet, new land, gas, desiel, and red desiel. They go on multiple caribbean vacations, rent out the banquet room and claim it as a business expense. Is this really what business are able to do?
In: Economics
I think their presumed life of wealth as you put it is actually from different aspects of farming. You need to remember this land was likely passed down, is paid off, and worth several millions of dollars they can take loans out against. But not to mention, farming is almost completely risk free these days due to government subsidies and crop insurance. The fact is, if you are running a legitimate farm and have underperforming yield or complete loss during a season, you will be paid accordingly depending on your area’s weather and comparable yields from other farmers.
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