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Beginners question about profit
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<blockquote data-quote="HerefordSire" data-source="post: 692091" data-attributes="member: 4437"><p><em>Profit is the amount one is liable for taxes. There are many uses of the word profit on these boards. The largest difference I see in profit between producers, is some of us have land paid off and some of us don't. For example, I owe 15 more years after paying for 5 years. If I were a second generation farmer, my land would likely be paid off thereby increasing my tax liability all other things being equal. The other main difference I see, is there are a few of us that are niche marketers such that they are more likely to dictate the top line, where as most of us are sale barn bid bucklers.</em></p></blockquote><p></p>
[QUOTE="HerefordSire, post: 692091, member: 4437"] [i]Profit is the amount one is liable for taxes. There are many uses of the word profit on these boards. The largest difference I see in profit between producers, is some of us have land paid off and some of us don't. For example, I owe 15 more years after paying for 5 years. If I were a second generation farmer, my land would likely be paid off thereby increasing my tax liability all other things being equal. The other main difference I see, is there are a few of us that are niche marketers such that they are more likely to dictate the top line, where as most of us are sale barn bid bucklers.[/i] [/QUOTE]
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