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defon
2 years ago
8

Roger has been farming his land in Florida for nearly 30 years. His principal crops are corn and soybeans. He also raises cattle

and horses for sale on his 450-acre property. He has consistently used conservation methods and fertilizing to maintain the value of the land. He has also reforested where possible on his property. He is currently seeking some tax relief. Is he likely to get relief?
Social Studies
1 answer:
Ann [662]2 years ago
6 0

Answer:

Yes

Explanation:

Yes it is possible for him to get some tax relief, because he has been farming for almost 30 years and has practiced the right method in doing this business, Government want people that follow the law and he has been doing it for 30years, he deserves some credit.

The tax relief also depends on the law, there will always be a criteria to be met before you can a tax relief, if he has met those criteria, he would be given but from what he has do e in the farming business, and his adherence to the right method, can earn him a tax relief.

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Explanation:

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The formula used is to divide 72 between the interest rate paid by the investment. The result is the number of years in which the capital invested will double.

It is important to mention that at the interest rate or return on your investment you must subtract the inflation. For example, if the annual rate of return is 15%, and inflation is 5% per year, your net rate is 10%.

For example, if you have an investment of $ 10,000 in a mutual fund, which pays you 10% per year. If you calculate 72/10, you will see that your investment will double in 7.2 years.

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