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.
For tax deductible, see tax deduction. In an insurance policy, the deductible is the amount of expenses that must be paid out of pocket before an insurer will pay any expenses.In general usage, the term deductible may be used to describe one of several types of clauses (see below) that are used by insurance companies as a threshold for policy payments.or example, a single housing insurance policy may contain multiple deductible amounts for loss or damage arising from theft, fire, natural calamities, evacuation etc. There are also deductible reimbursement programs that reimburse a deductible in the event of an automobile, home, boat/yacht or health insurance claim.