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$1300! whoa thats a lot of money
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<blockquote data-quote="cypressfarms" data-source="post: 211375" data-attributes="member: 2653"><p>Aplus, when doing taxes all cattle bought are depreciated over a certain period of time. H & R Block wanted to depreciate over 7 years for cows and bulls. I had them depeciate for 5 years for cows and 3 years for bulls. Same thing with machinery - depreciated over it's useful life. I bought a Kawasaki mule and it's dep. over 5 years. Tractors, trucks, are the same way. With structures (barns, fences, corrals, etc) the time is normally longer. New fences 10 years, barn 10 years.</p><p></p><p>This gives you a truer indication of profit/loss, as without some sort of depreciation factored in your profit/loss would be up and down spikes on a chart from year to year.</p><p></p><p>This does not account for retained heifers (or bulls for that matter). I haven't found a way to depreciate them yet :lol: If you wanted to do it personally, you can add retained cattle to your total.</p></blockquote><p></p>
[QUOTE="cypressfarms, post: 211375, member: 2653"] Aplus, when doing taxes all cattle bought are depreciated over a certain period of time. H & R Block wanted to depreciate over 7 years for cows and bulls. I had them depeciate for 5 years for cows and 3 years for bulls. Same thing with machinery - depreciated over it's useful life. I bought a Kawasaki mule and it's dep. over 5 years. Tractors, trucks, are the same way. With structures (barns, fences, corrals, etc) the time is normally longer. New fences 10 years, barn 10 years. This gives you a truer indication of profit/loss, as without some sort of depreciation factored in your profit/loss would be up and down spikes on a chart from year to year. This does not account for retained heifers (or bulls for that matter). I haven't found a way to depreciate them yet :lol: If you wanted to do it personally, you can add retained cattle to your total. [/QUOTE]
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