WHAT NOBODY'S TELLING YOU ABOUT MAKING MONEY WITH LAND! Tax Day!

hey there folks this is Josh Stoney Ridge farmer welcome back to the farm today is gonna be a pretty fun day on the farm aside from me spending a bunch of money so I've got to go over to the County Building it's the end of the year I got to go over and get my taxes paid death and taxes right so today we're going to talk about cutting your timber on your farm whether it was worth it for us my thoughts about it we're about two years out from when we cut our timber and we'll take you over and we'll show you the new trees that we replanted and we'll just chat a little bit about making money on your farm without having any animals just making money off the land all right [Music] I'll soon love contact the guys want to laugh this is a tape in case you kids have never seen a tape this is a cassette tape this goes inside a radio and plays songs when I bought this truck there was a Garth Brooks tape in there dude I can't say how much it takes me back to listen to a nice Garth Brooks tape so let's go pay taxes here's the old Massey Ferguson 65 and the John Deere and there's the old farm ball so we got to talk we got to talk about some as I'm driving down the road I've got the camera stationary Here I am going to dispute my tax evaluation today I'm going to go in and I'm going to dispute my tax evaluation of one of my pickup trucks so I've got to Dodge Ram pickup trucks one to ninety nine and one is a 2000 model the taxes on one of them they're taxing me for about twenty-five thirty-five hundred dollars on this truck that I'm driving right now and my other truck they're taxing me at fifteen thousand dollars for that truck it has nearly the same amount of miles it's a twenty-year-old pickup truck with a hundred and forty seven thousand miles on it and I'm being taxed as if it's a like a twenty sixteen pickup truck it's not right I don't think it's right and you got to stand up for yourself and I'm gonna stand up for myself I'm gonna go in there and I'm gonna tell him look I've got one truck that's one year younger it's the same truck and you're only charging me taxes on like three thousand bucks so what is your rate there and I've got some paperwork to help back me up in other words they're taxing me at an exorbitant rate the rate that they're taxing me and exorbitant absorbent they're taxing me way too much on this pickup truck so we're gonna go in we're gonna talk to them a little bit last time I went in they were charging me taxes on it and based off of what I paid for it which was like five years ago and I did pay a premium price for my Dodge Ram Cummins diesel but it only had a hundred like ten thousand miles on it now it's got 140,000 miles it's a little more beat-up and it's an old truck so stand up for yourself I'll let you guys know how that goes guys I probably don't even have to tell you how the tax chat went but I was nice and kind and I went to the window and basically said that you're charging me more taxes they're charging me close to thirteen thousand dollars worth of taxes on the pickup truck that is 20 years old in other words they valued the truck at thirteen thousand dollars now I know that the truck has value for sure but that's not the way that we should be taxed we should be taxed on what the value of the vehicle is / the na da or Kelly Blue Book now the NAD a value of my vehicle was nine thousand two hundred and twenty five dollars got the paper right here and they're taxing me on nearly thirteen thousand dollars that doesn't sound fair and I was outside the window for appeal so next time I have to go and appeal it and they have to inspect the vehicle and all that stuff who knows it might raise my taxes I don't know so I don't know tell me what you think about that guys I really don't don't get it I don't get the county's vehicle tax I honestly don't get that the state's maintain all the roads in the county I don't know but anyway let's show you how to make some money on the farm without having to lift a finger I'll show you the trees cutting of the trees and we'll chat a little bit about hunting leases that could potentially net you a profit on your farm alright guys I think it's befitting that we paid our taxes on this day that we're going to discuss how to make money on your land without ever even having to lift a finger you might have to lift your brain a little bit but you won't have to lift a finger so we cut somewhere in the neighborhood of a hundred acres of timber here on the farm when we first bought it a lot of that cutting was so that we could clear pastures and our entire goal was to make enough money on the timber sales to clear our pastures and we did almost so we made about forty two thousand dollars that was our net return on our timber sales and our timber wasn't nice big beautiful timber it was just like what you see back here which is trees about this big - about this big now once in a while you'll run up on a great old big poplar or something like that or big pine but really we just had what I call scraggly land with scraggly trees we took that money we reinvested it in the farm now another way you can make money on your farm without lifting a finger is base camp leases base camp leasing there'll be a link in the video description down below our 200 acre farm here they quoted us $2,700 which would more than pay the taxes on the farm with a thousand dollars profit which is SuperDuper awesome guys so we have pretty low tax basis here where we live in North Carolina but again there'll be a link down the video description and if you're looking for a place to go hunting if you haven't bought your property yet you can also go to those guys and they can outfit you with a local person in your area where you can hunt pretty cool we're going to take you around we're going to show you the pine trees that we planted I guess it's been last March and we did a video on that I'll post a link right up here to that video and they'll also be a link at the end of this video so you can see when we planted our trees how that was done so this area back here behind us has not been cut and the reason it hasn't been cut is because you can't cut within 50 feet of a creek interesting so let me show you some places that we have not replanted and then we'll take you over and show you some places that we did replant now we're on year number two I do believe on our pine trees these are loblolly pine trees it's what they typically plant here in my area of North Carolina so whether you have property now or not the first step you need to make if you're looking at property and you're wondering about the timber value of that property contact the u.s. Forest Service you have a u.s. Forest Service representative in your local area if you live in the United States and that's what you pay your taxes for so get those guys out there have them evaluate your trees have them tell you is it time to cut should you go ahead and cut and replant start fresh what should you do what our Forest Service representative told us to do and we had a video with that guy too what he told us to do is go ahead and cut and replant and if you want to take back some pastures take back some pastures you can get on a forestry program with your land and you can save money you can also get on a farm program with your land so there's all sorts of ways to save and/or make money without ever lifting a finger on your land or on your property or on your farm let's go look at a place that I've already cut and we have not replanted and then we'll look at a place that we've cut and we have replanted all right you might have seen this kind of land on the side of the freeway or on the side of the highway or just out in the country this is what we call a cut over and this has been cut over in other words we cut all the trees we totally clear-cut this area leaving a few select trees for the wildlife we left some white oaks and we left some hickories up here on the top of the hill all this land is going to be cleared very soon this will all be cleared off it'll be about another 25 to 30 acres in addition to our farm and we're waiting a couple years for the stumps to rot in the ground and that way they can easily be pulled out piled up and burnt now this is not the ideal thing this is not what you want on your farm you don't want cut overs you want to cut your timber and you want to go back in and replant we're going to talk a little bit about the cost to replant and or the cost of spraying prior to replanting and there is some science behind when you need to cut your timber so that you don't have to spray chemicals on your newly cut areas in order to replant your trees so let's go over to a place where we've got some trees planted and they're not very tall they're not very big but they'll get bigger and we'll keep updating the channel year after year but we're gonna right over the other side of the farm real quick and we'll show you the 25 acres that we planted you know what I think we need to stop here so I can talk to you about what we're doing here too so where we are right now this is what the cutover looks like once it's been cleared and stumped so this is probably about a two and a half acre little section of land right here that we've got a smooth back over in the spring we've got the tr3 rake we're going to smooth this all over subscribe to the channel you get to see all that stuff in action how we see that everything that we do to take this land which looked exactly like where we just were so this is going to be a beautiful rolling pasture right here where it used to be a cut over nasty mess now another good point to make you see all these big trees right here these are all big hardwood trees and the reason we left those big hardwood trees behind is because I may want some lumber for myself so when you cut your farm don't clear cut your farm totally because you may want some timber for yourself for projects are for building your own house good stuff let's go look at the pine trees looks like it's time to test out these new boots to see if they're really waterproof all right here we are on another cutover and we've still left some big hardwoods that are back in behind you in there on the creek area so some big white oaks and stuff like that for the wildlife now this is a 25 acre section we cut this late in the year in other words between June and August in the summer time is when we cut this that minimizes that reproductive cycle in the stump in other words when you cut the stump off and the SAP is up in the tree it normally will kill the stump so we don't have a lot of stump growth over here that's why because we cut it at the right time of year now you have the option of spraying or not spraying spraying again could cost upwards of 120 bucks an acre maybe even more in your area we didn't want any spray so we cut late in the year so that we would kill the tree kill the stump and then we came back and replanted in March ish timeframe so there's a thought process here in the time of year that you want to cut your timber and again we're talking about making money on your land without lifting a finger all you have to do is come in and get this area cruised they fill out a form over at the county and basically put a timber deed on your property typically they'll pay you 50% up front and 50% when they get done or you can do it like I did and negotiate it load by loads so we had such a mixture of different types of trees in here we wanted to make sure they got chipped up so we hired a company that does chips so all the brushes all of what you call the lapses which is the top of the tree something that can't be used for lumber all that gets chipped up and used for biofuel and all the rest of this goes toward lumber and we split it 50/50 so there are several different approaches for cutting timber and making money off your land again without lifting a finger so all I had to do is basically manage the timber crew show them what I want to cut show them what I didn't want cut and manage this whole thing and that is how we netted 40-something thousand bucks now for replanting I think we spent somewhere in the neighborhood of 2500 bucks not too bad so what I'm trying to tell is you can buy land with timber on it cut the timber take it back to pasture or replant it as a source of income or a source of retirement our property actually lost money by cutting the timber in other words the value of the timber was around five hundred bucks an acre and the value of the property was somewhere around two thousand to thirty five hundred dollars an acre so we actually took a loss on our taxes because we devalued the land and we didn't get enough in return however we won't pasture anyway we want to replant anyway so in 30 to 35 years when I'm about ready to retire we'll start cutting trees again and then will replant for the next generation of my family pretty cool let's get you down here and we'll show you one of these little pine trees if you know what you're looking for you'll see them but right here is one of our little loblolly pine trees and they started out just tiny tiny trees about that big little roots basically there were a bare root tree they stuck a little Spade in the ground opened it up stuck the tree in and that's it so this is around two years next year this tree will be over this high it'll probably be somewhere in the neighborhood of three to four feet high and there's another one back here so depending on the area the sunlight and the nutrient content in the soil your trees will grow faster or slower and the sunshine and the rain lots of stuff to think about on the farm so guys I hope this has helped you a little bit with your thought process if you're buying land or if you already own land if you inherited some land that might have a little bit of timber on it go to the u.s. Forest Service talk to those guys learn a little bit educate yourself learn what the values of the trees are stop at your local sawmill learn learn learn I hope this will help you on your journey of learning about what you want to do on your property in ways you can make money on your property without lifting a finger so if you're interested in making a little extra money on your property check out Basecamp leasing there'll be a link down the video description hopefully if you decide to cut timber on your farm you'll replant or you'll take it back to pasture and think about your land think about it use every square inch of your land to its maximum productive capacity that's what this is all about using your land wisely spending your money wisely then doing what's right for the environment your farm and your future and your children's future so it's good stuff thanks a lot guys I hope you enjoyed this little video I hope you learned a little something dogs are killing out in the leaves over there I guess we'll see you next time on the Stoney Ridge farm please pound that like button subscribe to the channel and I hope to see you again on the next video alright wooooo by the way the boots are waterproof awesome I'll post a link down the video description these are new pair of boots that I bought about a month ago I'm really really hard on shoes and these are really holding up I'll show you I'm real quick before we go so these boots are Rock rooster brand and the unzip on the side so they're easy to take on and off and steel-toed for working with the chain saw I like them [Music] proud of Who I am and I made a [Music]