Generally, prospects of permanently increased cash rents lead to increases in farmland prices. Since 2006, average cash rents in Illinois increased from $132 per acre in 2006 to $234 per acre in 2014, representing an increase of 77%.
If you're a landlord and claim rental income on your home, your homeowners' insurance on the portion of the property used for rental becomes tax-deductible. When you own several properties and those properties are used only for rental income, then all of the homeowners' insurance is tax-deductible. Consult your tax preparer for more details on how to deduct homeowners' insurance.
Insurance deductible rules can vary from one car insurance company to another. Some companies may offer plans with no deductibles, but no-deductible plans are likely to have higher premiums than plans that have deductibles. Sometimes plans charge deductibles for certain types of damage and no deductibles for others. For example, an insurance company might give you the option of choosing a plan where you don't have to pay a deductible for damage to your car's windows.