WHERE IS THE MONEY?

[Hobbyfarmer]

Found this question on another site..

Not one correct answer.

Found myself on a non charter regularly scheduled flight out of Phoenix last week.

In the airport visited with a farmer from Ray J' s area that got on a flight to Maui.

Our flight to another Palm tree infested site had at least 3 farmer/ranchers on it and probably more. I didn't borrow the intercom and ask.

My best guess is the money is under a Palm tree, on a sandy beach, in a naturally heated pool, or on a freshly mowed golf course.

If this is just a representative daily sample, quite a transfer of wealth out of farm country. All were 9 to 11 days. 

[BA Deere]

Well, you can`t take it with you, the high expense of inputs some farms their cost of living is a drop in the bucket so they might as well live it up.  They can go up to Canada and buy cheap machinery that will more than make up for their trips   🙂

[hardnox]

Might want to keep that under your hat, though.

Don't want the vast majority of our neighbors who receive little or nothing in the way of farm payments to get the idea that they might not be essential for rural America.

[bruce MN]

We have more than just a couple of farmer acquaintances who pay all or as much as possible of their expenses with gold plated credit cards and earn enough "points" to send themselves, their families and the hired help off on a lavish winter vacation every year.  

I talked to to someone who works at the REC who told me that I could never imagine how many farmers come in or call regularly to loudly complain that they can't pay their light bill with their credit card.

[hardnox]

As do I, although I generally try to pay local family businesses by check- no need for then to have to pay the bank fees.

[sw363535]

Some just operate smarter than others.

Even if you are charged the card fee, it is a way to expense the vacation without question...

Limitations are in the individual......

[k-289]

SW   -   Interesting post  -  kNeW  I wasn't that smart   -   confirmed  -  I  guess --- Makes  Me  Wonder about the smarter ones in the  e  -   stamp    organization  &  the  likes --- White collar smart crime is less of a threat than other crimes - I  Guess  ---     

[Hobbyfarmer]

I have a hard time making  it pencil out.

My vendors charge a 3%"convenience" fee. Then I'm going to get 1% to a little more up to $1500 gross amount of purchase 

I'm spending three dollars to get back one "free" one?  

That is a 66% " tax". If they operate the rest of their business like that, no wonder some are "below" their cost of production.

Yep it's a free vacation.

[WCMO]

Several years ago, I was able to pay all my coop year-end pre-pay with a GM card, and they didn't charge me any extra fees.  The next year, I tried to do it again, but they were going to charge me an extra fee, so I just wrote a draft on my operating loan, but no GM card points that way.  Doesn't matter, I guess, I haven't bought a NEW vehicle since 1993.

[sw363535]

289,  For the most part Hobby and WCMO are right on this one...

I had the same experience using it..... Worked for a few years on flights purchased.... got a free flight in the US with every 16K of card usage.  Like WCMO, My suppliers realized what it was costing them and changed their rules for cards....  Since, the airline has changed their rules as well and I can't just hop on any flight with an open seat, Like we did for a while;;  we don't use it as much.

Had a neighbor who pressured the Coop with his volume of business and got buy with it for a couple more years than I did... but he was always in more of a "need tax deductions" position than I was...  

But if they can afford to pay the card fees (was 2%) you are probably paying more for the fertilizer....  But technically it is 16K of fertilizer and $320 in card fees(2%)

.....and that was one round trip flight to anywhere in the US...... If they tack it on to the cost of fertilizer, that part of the trip to see the kids is deductable........ so it really all depends on whether you are making a profit or not... and the tax bracket... With the understanding that nothing is free....  And not everything is an expense you can afford..