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Being honest
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<blockquote data-quote="farmerjan" data-source="post: 1607370" data-attributes="member: 25884"><p>Please don't take my comments in a negative way or attitude. I just think that you really do need to understand that no matter how/what you do, and believe me, I have seen alot in 40+ years, farming is not the "way to make money".... especially if you are getting into it. Yes you do have to show some sort of a profit....every so many years. This is where a good accountant/tax person is essential for you if your income is that substantial. I am all for it, but you need to understand the subtleties.... </p><p>Doing feeders in the spring and selling in the fall is the right way for you to "get into it" as opposed to any type of breeding/calving operation. Still, you are going to HAVE to have minimal working facilities because feeders tend to get sick when taken off cows, sold, moved through a stockyard or facility that hundreds of others have been through and the germs etc. left behind, and then trailered to your place. You are still going to have to spend a considerable amount of money in the infrastructure, and I honestly don't know how much can be written off. AGAIN, knowledgeable tax/accountant person. The feeders are going to require TIME and EFFORT for the first several weeks. </p><p>That is why I suggested that if you really want to get this property, and all, get it set up somewhat, and rent it out to someone for a couple of years get a small income from it, not the risk..... Offer to work for them for free, get some experience. Maybe in a year or two, offer to go in halves on the calves in lieu of rent or something. Make sure you can put in the time when it is needed.... </p><p>Maybe you won't like it....maybe it will fire you up more and then you will have a little more practical experience in it and can honestly do it on your own.</p></blockquote><p></p>
[QUOTE="farmerjan, post: 1607370, member: 25884"] Please don't take my comments in a negative way or attitude. I just think that you really do need to understand that no matter how/what you do, and believe me, I have seen alot in 40+ years, farming is not the "way to make money".... especially if you are getting into it. Yes you do have to show some sort of a profit....every so many years. This is where a good accountant/tax person is essential for you if your income is that substantial. I am all for it, but you need to understand the subtleties.... Doing feeders in the spring and selling in the fall is the right way for you to "get into it" as opposed to any type of breeding/calving operation. Still, you are going to HAVE to have minimal working facilities because feeders tend to get sick when taken off cows, sold, moved through a stockyard or facility that hundreds of others have been through and the germs etc. left behind, and then trailered to your place. You are still going to have to spend a considerable amount of money in the infrastructure, and I honestly don't know how much can be written off. AGAIN, knowledgeable tax/accountant person. The feeders are going to require TIME and EFFORT for the first several weeks. That is why I suggested that if you really want to get this property, and all, get it set up somewhat, and rent it out to someone for a couple of years get a small income from it, not the risk..... Offer to work for them for free, get some experience. Maybe in a year or two, offer to go in halves on the calves in lieu of rent or something. Make sure you can put in the time when it is needed.... Maybe you won't like it....maybe it will fire you up more and then you will have a little more practical experience in it and can honestly do it on your own. [/QUOTE]
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