most underrated/overrated cars?
05-30-2006, 12:39 AM
#85
Originally Posted by Water-S
I kick a lot of my personal money I make on the farm back into the farm. I can write a lot of it off.
I don't buy the stuff so much for need but to lower our tax bracket on the farm and myself.
I don't buy the stuff so much for need but to lower our tax bracket on the farm and myself.
Being a farmer myself and very curious as to your logic. Perhaps myself and others involved in agriculture can learn from your practices.
Terry
]
05-30-2006, 04:42 AM
#88
GEEZER
Originally Posted by teranfon
I'm somewhat confused with this comment. You claim to "put back" your personal income back into the farm. If the farm is a "limited" or "incorporated" entity, then you pay yourself a wage (at a moderate tax rate) and the farm would exist independently as an incorporated entity and pay a lower tax rate. What benefit would it be to put your personally income back into the farm? You are after all, ONLY an employee of said farm. And how are you lowering your tax bracket by purchasing equipment you claim not to need? How much depreciation of capital expenses are claiming the first year? The second? The following years? How much profit is a 600 acre farm capable of producing to acquire capital on a yearly basis that most likely cannot be depreciated entirely upon purchase?
Being a farmer myself and very curious as to your logic. Perhaps myself and others involved in agriculture can learn from your practices.
Terry
Being a farmer myself and very curious as to your logic. Perhaps myself and others involved in agriculture can learn from your practices.
Terry
AGAIN!I am begining to think water is a made up person...
05-30-2006, 05:42 AM
#89
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@ the farmer from Edmonton
05-30-2006, 07:35 AM
#90
Go Giants
Originally Posted by Ken1997TL
@ the farmer from Edmonton
05-30-2006, 08:22 AM
#91
GEEZER
Originally Posted by Whiskers
Im thinking RIC got a name change and became a farmer....
Naw....
05-30-2006, 01:58 PM
#94
Originally Posted by 92NSX
Overrated. BMW's
Under. NSX
Under. NSX
Originally Posted by Yumchah
Overrated: Any Audi car (
from Crazy Sellout)
Underrated: Acura/Honda NSX
from Crazy Sellout)Underrated: Acura/Honda NSX
Originally Posted by MSZ
Overrated: Some of the BMW models
Underrated: NSX/NSX-R
Underrated: NSX/NSX-R
The NSX is probably the most underrated and unappreciated car ever made.
05-30-2006, 02:52 PM
#95
Drifting
Overrated: Chrysler 300c, Caddy CTS, Infiniti FX, 3rd gen TL, Integra Type R, R34 skyline <--- thats right...
Underrated: Ford GT, Porsche Boxter, NSX, Mazda 3
Underrated: Ford GT, Porsche Boxter, NSX, Mazda 3
05-30-2006, 04:32 PM
#96
go like hell
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Originally Posted by teranfon
I'm somewhat confused with this comment. You claim to "put back" your personal income back into the farm. If the farm is a "limited" or "incorporated" entity, then you pay yourself a wage (at a moderate tax rate) and the farm would exist independently as an incorporated entity and pay a lower tax rate. What benefit would it be to put your personally income back into the farm? You are after all, ONLY an employee of said farm. And how are you lowering your tax bracket by purchasing equipment you claim not to need? How much depreciation of capital expenses are claiming the first year? The second? The following years? How much profit is a 600 acre farm capable of producing to acquire capital on a yearly basis that most likely cannot be depreciated entirely upon purchase?
Being a farmer myself and very curious as to your logic. Perhaps myself and others involved in agriculture can learn from your practices.
Terry
Being a farmer myself and very curious as to your logic. Perhaps myself and others involved in agriculture can learn from your practices.
Terry
what I do as far as paying myself.(in the farming aspect). I'm not a "employee" of the farm i'm a part owner. so as an owner/operator of the farmer It's like a business owner of a lets say local garage or shop. if incorp. and the majority agree to the purchase of tools for example can purchase new Snap-On tools for his guys to lower the business's net gain of that year.
Like last year on the books I only made 100 bucks even though I made WAAAAAAAAAY more than that.
I don't have a lot of liquid assest(cash,bonds,stocks,etc) but I have a ton of hard assest.(tractors,semis,grain, land, tools,machinery and other stuff).
05-30-2006, 05:19 PM
#97
Originally Posted by Water-S
i don't write them clear off on the books the first year. it's a pro-rated system. so there for example we have a 9760 John Deere Combine. we got that new 2 years ago. we'll probably use that another 7 to 8 years. why do I pump my salary back into the farm because what my parents have done for me. when #1. they'll pretty much give me the farm in 10-15 years.
what I do as far as paying myself.(in the farming aspect). I'm not a "employee" of the farm i'm a part owner. so as an owner/operator of the farmer It's like a business owner of a lets say local garage or shop. if incorp. and the majority agree to the purchase of tools for example can purchase new Snap-On tools for his guys to lower the business's net gain of that year.
Like last year on the books I only made 100 bucks even though I made WAAAAAAAAAY more than that.
I don't have a lot of liquid assest(cash,bonds,stocks,etc) but I have a ton of hard assest.(tractors,semis,grain, land, tools,machinery and other stuff).
what I do as far as paying myself.(in the farming aspect). I'm not a "employee" of the farm i'm a part owner. so as an owner/operator of the farmer It's like a business owner of a lets say local garage or shop. if incorp. and the majority agree to the purchase of tools for example can purchase new Snap-On tools for his guys to lower the business's net gain of that year.
Like last year on the books I only made 100 bucks even though I made WAAAAAAAAAY more than that.
I don't have a lot of liquid assest(cash,bonds,stocks,etc) but I have a ton of hard assest.(tractors,semis,grain, land, tools,machinery and other stuff).
In 2005 year end corn was priced at $1.95 US dollar. Lets say the average return per tillable acre for corn, which you claim to grow, is about 140 bushels. Performance based on 600 acres would be a gross earning of $163, 800. Before expenses. In fact the average based return per farm was just over $39 000.00 US dollars after expenses. On farms 40% larger than yours. These figure are based upon the state of Illinois.
Again, I'm somewhat baffled by your projections and claimed expenditures. Up here we often have farms approaching 5000-7000 acres and equipment of extraordinary value. Farming is no longer a lifestyle, but a business involving massive amounts of expenditures and work. Today's farmer is more astute and educated as ever, and your claims intrigue me somewhat.
My apologies to original poster of this thread. I did not mean to highjack your thread.
Terry
05-30-2006, 05:38 PM
#98
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I LOVE TERAFON!!!!!
WATER-S is SINKING!!!!!!!!!!!!!!!!!!!!!!!!!!!!
BLOOP
WATER-S is SINKING!!!!!!!!!!!!!!!!!!!!!!!!!!!!
BLOOP
05-30-2006, 05:58 PM
#99
Drifting
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Originally Posted by teranfon
My apologies to original poster of this thread. I did not mean to highjack your thread.
Terry
Terry
05-30-2006, 07:27 PM
#101
Go Giants
Originally Posted by 1killercls
could it be... Naw....
Naw....
05-30-2006, 09:33 PM
#104
Suzuka Master
Originally Posted by jts1207
Farmer Fight, Farmer Fight
Terry the Farmer is kicking ASS
Terry the Farmer is kicking ASS
05-30-2006, 09:59 PM
#105
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Originally Posted by nahooneyya
i dunno what ppl think..but for me..
Overrated: G35- i love the VQ35, but gosh..i just hate the interior
Underrated:MX-5? or maybe mazda speed miata
what do you guys think the most over/undertated cars are?
Overrated: G35- i love the VQ35, but gosh..i just hate the interior
Underrated:MX-5? or maybe mazda speed miata
what do you guys think the most over/undertated cars are?
Originally Posted by West6MT
Well since everyone is talking about the G35,.............I think the interior isnt very nice. Just the steering wheel and orange guages are enough to make me never want to own one (the new one is looking pretty nice inside though). I was at a G35 meet about a month ago, and some of the owners admitted that the interior was not very good. I received comments on how nice my TSX interior was 
.
I will throw out VW as being over-rated,.........just because IMO they have always been overpriced for what they are, and the reliability issues in the past have not helped. Im sure I will get attacked for that, but whatever.
.I will throw out VW as being over-rated,.........just because IMO they have always been overpriced for what they are, and the reliability issues in the past have not helped. Im sure I will get attacked for that, but whatever.
Anyway, my list:
Overrated: Almost any Audi aside from an S4/RS4, especially the A3. Most Mercedes (anything with a 6cyl or less, basically). 2nd gen Lexus IS and the newer GS's, the new 3 series. Toyota Camry's (ya, I said it), Nissan Altimas, and yes, Acura TL's, 300C's, GTI's, Solstice.
Underrated: Mazdaspeeds and the regular Mazda6, Acura RSX/TSX, The new Xterra, Infiniti Q, Honda Accords, Acura RL, almost any new Hyundai, GTO, BMW Z's, MX-5's, Maximas.
05-30-2006, 10:13 PM
#106
go like hell
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Originally Posted by SpeedyV6
But Water has the bigger farm and deals with the Amish. That's some old school farming skills there. Besides, I'll bet Water is even more creative with the accounting and tax writeoffs. My guess is that he'll be writing off the GoldWing as agricultural equipment.
05-31-2006, 04:28 AM
#107
GEEZER
Originally Posted by Water-S
my CPA asked me not to comment on that one.
what, did you call your CPA to discuss this thread??? damn you are full of shit.
05-31-2006, 04:30 AM
#108
GEEZER
Originally Posted by teranfon
I'm not sure I follow. You mention incorporation and claim to have purchased close to $600,000.00 of assets in the past year. If this is indeed true then you are obviously not a proprietorship. And if incorporated you are indeed an "employee" or such drawing a wage from the company. You may of course choose not to. In addition to drawing a wage as an employee or other, you may also own the company or farm as a shareholder. In whole or in part. Regardless, both are treated as different entities. If you pay yourself, then any wages are tax deductible against the farming, or business, operations. I'm curious as to which it is.
In 2005 year end corn was priced at $1.95 US dollar. Lets say the average return per tillable acre for corn, which you claim to grow, is about 140 bushels. Performance based on 600 acres would be a gross earning of $163, 800. Before expenses. In fact the average based return per farm was just over $39 000.00 US dollars after expenses. On farms 40% larger than yours. These figure are based upon the state of Illinois.
Again, I'm somewhat baffled by your projections and claimed expenditures. Up here we often have farms approaching 5000-7000 acres and equipment of extraordinary value. Farming is no longer a lifestyle, but a business involving massive amounts of expenditures and work. Today's farmer is more astute and educated as ever, and your claims intrigue me somewhat.
My apologies to original poster of this thread. I did not mean to highjack your thread.
Terry
In 2005 year end corn was priced at $1.95 US dollar. Lets say the average return per tillable acre for corn, which you claim to grow, is about 140 bushels. Performance based on 600 acres would be a gross earning of $163, 800. Before expenses. In fact the average based return per farm was just over $39 000.00 US dollars after expenses. On farms 40% larger than yours. These figure are based upon the state of Illinois.
Again, I'm somewhat baffled by your projections and claimed expenditures. Up here we often have farms approaching 5000-7000 acres and equipment of extraordinary value. Farming is no longer a lifestyle, but a business involving massive amounts of expenditures and work. Today's farmer is more astute and educated as ever, and your claims intrigue me somewhat.
My apologies to original poster of this thread. I did not mean to highjack your thread.
Terry
x 9978512247
05-31-2006, 04:32 AM
#109
GEEZER
Originally Posted by DownUnder
Still waiting for water-s' response. 
05-31-2006, 06:23 PM
#110
go like hell
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Originally Posted by 1killercls
what, did you call your CPA to discuss this thread??? damn you are full of shit.
05-31-2006, 06:24 PM
#111
go like hell
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Originally Posted by 1killercls
And you will have to keep waiting, he avoids posts that require for him to tell the truth.
05-31-2006, 06:28 PM
#112
go like hell
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Originally Posted by 1killercls
x 9978512247#2. you most farms don't have "just grain"they have for example dairy,beef, pork,chicken or turkey. so the estimates you gave are off. so i'm not OWNED.
you've never stepped foot on a farm so you don't have clue what you're talking about so you can go the to hell and fuck yourself 1killercls.
05-31-2006, 06:30 PM
#113
Registered Abuser of VTEC
Originally Posted by Water-S
it was a joke jackass, your a royal piece of shit. You're an ass bag who needs to die you worthless sack of shit.
I don't remember you being so testy or angry. Something doesn't seem right.
05-31-2006, 06:31 PM
#114
Senior Moderator
Originally Posted by youngTL
I don't remember you being so testy or angry. Something doesn't seem right.Unless hes trying to get this thread closed so he doesnt get owned more.
05-31-2006, 06:33 PM
#115
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Mad Cow disease?
05-31-2006, 06:37 PM
#117
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Water-S, why don’t you respond to teranfon's intriguing questions about your farm?
Anyways back on topic,
Underrated: Diesel cars.
Overrated: Porsche Cayenne and Cayman.
Anyways back on topic,
Underrated: Diesel cars.
Overrated: Porsche Cayenne and Cayman.
05-31-2006, 06:39 PM
#118
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So, Water-S is really robb and who else now?
05-31-2006, 06:43 PM
#119
One on the right for me
if water-s is really made up then the planning/background is pretty extensive. the road showed up in Ohio-matches his last name, FFA pic on the internet, etc.
05-31-2006, 06:50 PM
#120
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Originally Posted by subinf
if water-s is really made up then the planning/background is pretty extensive. the road showed up in Ohio-matches his last name, FFA pic on the internet, etc.