Author Topic: What exactly is Billy Gates up to?  (Read 4807 times)

OneMoreRep

  • Moderator
  • Getbig V
  • *****
  • Posts: 14167
Re: What exactly is Billy Gates up to?
« Reply #25 on: January 26, 2021, 12:31:16 PM »
Land almost always goes up in value so I think it's probably just a convenient place for him to stash money if you don't have to pay taxes on it.

Do you get taxed for owning land like this if there's no property on it?

If you own the land and there is no property or any farm-related use to it, you still pay property taxes at the highest rate possible per the IRS. Because you aren't generating income on it, you don't pay income taxes on the federal, state or city level.

Now, if you own the land and it has farm-related equipment and farm-use to it, you do pay taxes, but you usually pay much less and there are many incentives to owning farmland.

While income from normal farm business is taxed at the Federal level, it's much lower than standard federal taxes given that your land is assumed to be used for the betterment of society. Also, many states offer tax benefits for farmland owners, particularly in the form exemptions from sales, use or property taxes. Additionally, property taxes paid on farmland are tax deductible. You can also write off items purchased for use on the farm.

So, Bill Gates won't be hurting due to excessively high taxes on the land, as he'll likely keep most of it under the guise of farm-land. Owning land is a wonderful hedge against inflation and a bad economy.

Like that old saying, when in doubt about what to invest in, buy land, because God isn't creating any more of it, but he's sure creating more humans in need of land to live on.

"1"

Hulkotron

  • Getbig V
  • *****
  • Posts: 29946
  • Expunged
Re: What exactly is Billy Gates up to?
« Reply #26 on: January 26, 2021, 02:10:56 PM »
If you own the land and there is no property or any farm-related use to it, you still pay property taxes at the highest rate possible per the IRS. Because you aren't generating income on it, you don't pay income taxes on the federal, state or city level.

Now, if you own the land and it has farm-related equipment and farm-use to it, you do pay taxes, but you usually pay much less and there are many incentives to owning farmland.

While income from normal farm business is taxed at the Federal level, it's much lower than standard federal taxes given that your land is assumed to be used for the betterment of society. Also, many states offer tax benefits for farmland owners, particularly in the form exemptions from sales, use or property taxes. Additionally, property taxes paid on farmland are tax deductible. You can also write off items purchased for use on the farm.

So, Bill Gates won't be hurting due to excessively high taxes on the land, as he'll likely keep most of it under the guise of farm-land. Owning land is a wonderful hedge against inflation and a bad economy.

Like that old saying, when in doubt about what to invest in, buy land, because God isn't creating any more of it, but he's sure creating more humans in need of land to live on.

"1"

Thank you my good man.

OneMoreRep

  • Moderator
  • Getbig V
  • *****
  • Posts: 14167
Re: What exactly is Billy Gates up to?
« Reply #27 on: January 26, 2021, 02:29:45 PM »
Thank you my good man.

You're very welcome sir.

"1"

Dave D

  • Getbig V
  • *****
  • Posts: 17080
Re: What exactly is Billy Gates up to?
« Reply #28 on: January 26, 2021, 03:01:21 PM »
Land almost always goes up in value so I think it's probably just a convenient place for him to stash money if you don't have to pay taxes on it.

Do you get taxed for owning land like this if there's no property on it?

You think he isn't paying property taxes?

You might be right, I can imagine Bill Gates has numerous loopholes around avoiding the taxes.

Gregzs

  • Getbig V
  • *****
  • Posts: 17372
  • Getbig!
Re: What exactly is Billy Gates up to?
« Reply #29 on: January 26, 2021, 03:02:44 PM »
Oligarchs gonna oligarch.

News flash for common liberal USA citizens...you aren't in the club or the plans, but you are enabling them.


SOMEPARTS

  • Getbig V
  • *****
  • Posts: 16628
Re: What exactly is Billy Gates up to?
« Reply #30 on: February 15, 2021, 07:26:55 PM »
While people are freezing in Texas...Bill Gates says in promoting his new book "How To Avoid A Climate Disaster" :

Everybody eats fake meat, microbes and fungi(the poor that is) because livestock accounts for 4% of greenhouse gases.
Carbon neutral world, all electric by way of wind, solar and more nuclear(not possible unless everybody either disappears or has a third world living standard).
Change steel and cement industries - says account for 16% of all carbon dioxide emissions, to inject up to 30% of captured C02 into concrete, and create a different type of steel.






A reminder of who actually is doing all this polluting, but is not on the Gates world saving radar:


Walter Sobchak

  • Getbig V
  • *****
  • Posts: 13907
  • HANKINS IS A FUCKING LIAR & QUITTER
Re: What exactly is Billy Gates up to?
« Reply #31 on: February 15, 2021, 07:40:47 PM »
If you own the land and there is no property or any farm-related use to it, you still pay property taxes at the highest rate possible per the IRS. Because you aren't generating income on it, you don't pay income taxes on the federal, state or city level.

Now, if you own the land and it has farm-related equipment and farm-use to it, you do pay taxes, but you usually pay much less and there are many incentives to owning farmland.

While income from normal farm business is taxed at the Federal level, it's much lower than standard federal taxes given that your land is assumed to be used for the betterment of society. Also, many states offer tax benefits for farmland owners, particularly in the form exemptions from sales, use or property taxes. Additionally, property taxes paid on farmland are tax deductible. You can also write off items purchased for use on the farm.

So, Bill Gates won't be hurting due to excessively high taxes on the land, as he'll likely keep most of it under the guise of farm-land. Owning land is a wonderful hedge against inflation and a bad economy.

Like that old saying, when in doubt about what to invest in, buy land, because God isn't creating any more of it, but he's sure creating more humans in need of land to live on.

"1"

Could the land be for carbon sequestration?

That will be the new climate change cash grab to support the Green New Deal.

IroNat

  • Getbig V
  • *****
  • Posts: 39081
  • Do or do not. There is no try.
Re: What exactly is Billy Gates up to?
« Reply #32 on: February 16, 2021, 04:38:28 AM »
Gates most likely leases the land to farmers who grow crops.

homebodybuilding

  • Getbig II
  • **
  • Posts: 133
  • Getbig!
Re: What exactly is Billy Gates up to?
« Reply #33 on: February 16, 2021, 11:23:45 AM »
Gates is just a piece of shit. I hope he leaves this world soon. He thinks or seems to think he has all the answers and is our saviour. He also seems to think he is a medical expert but is not even a Doctor.

Al Doggity

  • Getbig V
  • *****
  • Posts: 7286
  • Old School Gemini
Re: What exactly is Billy Gates up to?
« Reply #34 on: August 23, 2021, 10:22:43 AM »

pamith

  • Getbig V
  • *****
  • Posts: 8820
Re: What exactly is Billy Gates up to?
« Reply #35 on: August 23, 2021, 10:23:24 AM »
He now owns nearly a quarter of a million acres of farmland across the USA.
What's the deal? Building large concentration camps for those who disagree with the power mad psychopath?
https://www.dailymail.co.uk/news/article-9152789/Bill-Gates-biggest-owner-FARMLAND-buying-242-000-acres.html
Depopulation.

Vince G, CSN MFT

  • Competitors II
  • Getbig V
  • *****
  • Posts: 25844
  • GETBIG3.COM!
Re: What exactly is Billy Gates up to?
« Reply #36 on: August 23, 2021, 11:26:38 AM »
He now owns nearly a quarter of a million acres of farmland across the USA.
What's the deal? Building large concentration camps for those who disagree with the power mad psychopath?
https://www.dailymail.co.uk/news/article-9152789/Bill-Gates-biggest-owner-FARMLAND-buying-242-000-acres.html


🙄🙄🙄🙄  really??  Concentration camps🙄🙄🙄🙄
A

IroNat

  • Getbig V
  • *****
  • Posts: 39081
  • Do or do not. There is no try.
Re: What exactly is Billy Gates up to?
« Reply #37 on: August 23, 2021, 12:05:08 PM »
Does Melinda know about this?

Marty Champions

  • Getbig V
  • *****
  • Posts: 36515
Re: What exactly is Billy Gates up to?
« Reply #38 on: August 23, 2021, 06:15:51 PM »
Land almost always goes up in value so I think it's probably just a convenient place for him to stash money if you don't have to pay taxes on it.

Do you get taxed for owning land like this if there's no property on it?
Billy would pay the least
A

IroNat

  • Getbig V
  • *****
  • Posts: 39081
  • Do or do not. There is no try.
Re: What exactly is Billy Gates up to?
« Reply #39 on: August 23, 2021, 06:29:20 PM »
If you own the land and there is no property or any farm-related use to it, you still pay property taxes at the highest rate possible per the IRS. Because you aren't generating income on it, you don't pay income taxes on the federal, state or city level.

Now, if you own the land and it has farm-related equipment and farm-use to it, you do pay taxes, but you usually pay much less and there are many incentives to owning farmland.

While income from normal farm business is taxed at the Federal level, it's much lower than standard federal taxes given that your land is assumed to be used for the betterment of society. Also, many states offer tax benefits for farmland owners, particularly in the form exemptions from sales, use or property taxes. Additionally, property taxes paid on farmland are tax deductible. You can also write off items purchased for use on the farm.

So, Bill Gates won't be hurting due to excessively high taxes on the land, as he'll likely keep most of it under the guise of farm-land. Owning land is a wonderful hedge against inflation and a bad economy.

Like that old saying, when in doubt about what to invest in, buy land, because God isn't creating any more of it, but he's sure creating more humans in need of land to live on.

"1"

Property taxes are not federal taxes.  They are local government and school taxes.

You must mean capital gains taxes upon sale of the land?

OneMoreRep

  • Moderator
  • Getbig V
  • *****
  • Posts: 14167
Re: What exactly is Billy Gates up to?
« Reply #40 on: August 23, 2021, 07:03:55 PM »
Property taxes are not federal taxes.  They are local government and school taxes.

You must mean capital gains taxes upon sale of the land?

I don't mean capital gains. The typo is when I wrote that property taxes are paid at the highest rate as per the IRS. It should read that property taxes are set at the highest rate as per your local government.

Property taxes are not federal taxes, but instead are tax deductible.

"1"

Taffin

  • Getbig V
  • *****
  • Posts: 17048
  • "From the pucha to the culo..."
Re: What exactly is Billy Gates up to?
« Reply #41 on: August 31, 2021, 02:12:50 AM »
"It is unclear why Gates has invested so heavily in farmland, but could be connected to climate change"

Likely Gates will stop all cattle production in these lands and replace it with production of vegan products, do what he can to force everyone to go vegan.  All those cow farts are gonna destroy the earth in 11 years, or so says AOC.

Or...

T

IroNat

  • Getbig V
  • *****
  • Posts: 39081
  • Do or do not. There is no try.
Re: What exactly is Billy Gates up to?
« Reply #42 on: December 24, 2021, 04:24:29 AM »
https://adapnation.io/now-bill-wants-you-all-to-eat-synthetic-beef/

Now Bill wants you all to eat Synthetic Beef

"This guy continues to stick is oar in. Mr. Pandemic, Mr. Vaccine, Mr. Largest US Farm Owner, Mr. Monocrop, Mr. Climate Change, Mr. Health Passports, Mr. Population Control, and now Mr. Synthetic Meat..."