Thumb of Michigan | JC STONE - 1/24/2021 11:11
I"d rather pull the money out and invest in farmland
I know close to zero about the whats and whys you're facing to end the C corp. My gut tells me that simply pulling the cash out to buy farmland is going to be buying it with expensive money. Which I get it, you're trying to avoid that.
If you're currently farming, going to assume that the corp rents farmland from- maybe you, maybe others. Obviously, never a good reason for a C corp to own any appreciating asset, land included. But without getting very complicated at all, the rent paid by the C corp could and should cover the land cost, shouldn't it? The land owner isn't going to pay self employment taxes on that, which I thought you said you wanted to avoid?
You mentioned above that the C corp pays you and your wife rent now- but thats maxed out? Not sure I understand that part?
Or: maybe there are some opportunities here? https://www.emparion.com/how-to-invest-in-real-estate-defined-benefi...
Edited by pat-michigan 1/24/2021 12:59
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C corp guys
