FINALLY GOT OUR BONUS MONEY KIND OF SAD THOUGH ON HOW MUCH TAXES YOU HAVE TO PAY THE GOVERMENT WHEN ITS OUR LAND. WE PAY THE PROPERTY TAXES AND WE PAID FOR OUR LAND. IM STILL GRATEFUL FOR THE MONEY JUST CANT UNDERSTAND HOW THE GOVERMENT HAS TO STICK THERE NOSE IN EVERYTHING.WE SIGNED BACK IN DEC 2011.
Current agricultural use value.
Hi John. CAUV stands for Current Agricultural Use Value.
We recently experienced a crazy mishap with a land agent who offered us a contract that offered a bonus of $32,500/ acre. He said, "We all know that I meant $3,250 an acre--so don't worry, my company will change it." The land agent also came with a nary agent who was equipped with antiquated tools. We have a digital scanner-copier at the house and offered to copy the document with initialed amendments. The land agent refused to let us copy the doucment. The lease was torn up. Is this happening everywhere? Are land agents making lease arrangements with land owners without giving you a copy of the original document?
Are land agents making lease arrangements with land owners without giving you a copy of the original document?
Only for Landowners gullible enough to let it happen.
I get a lick out of the word "depreciation" I looked at Massey Ferguson 255s in 1975 going price about $7,000 today price about $7000. A 8N Ford new 1953 about $1500 today with pretty paont about $3500!
But if the property is earning bonus money, royalty money or especailly delayed rental money, wouldn't you be able to deduct expenses for the land?
you all a need to see tax person as soon as possible in wv u have to pay state taxes the quater that you recieved the. we got your bonus money feb.2011. We didnt have to pay feds until the april 15th. I would see a tax expert and get these straight out but your tax money away. Seen alot of people spend spend and then go i didnt know we have to pay state early. Be safe with ur money
thelma thank you for your information!
JUST SOME ADVICE FOR PEOPLE WHO IS GETTING LEASE MONEY MAKE SURE YOU PUT PLENTY BACK FOR TAXES ,I SEEN MY tax accountant TONIGHT AND WAS SHOCKED ON THE AMOUNT OF TAXES I HAD TO PAY ON BONUS MONEY LET JUST SAY YOU ALL BETTER PAY TAXES BEFORE YOU BUY ANYTHING ! JUST MY OPINION