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.
Here are 6 important things to know about deductibles: 1  Having health insurance can lower your costs even when you have to pay out of pocket to meet your deductible. 2  A health insurance deductible is different from other types of deductibles.  All Marketplace plans cover preventive care.