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<blockquote data-quote="rockridgecattle" data-source="post: 492184" data-attributes="member: 6198"><p>not an accountant, just a book keeper for my records. We have an accountant which i would recommend to any farmer. Tax laws are complex so...pay the bucks and get a good accountant. If you do the bookwork it will save $ but the tax accountant can save you on filing</p><p>Cash VS accural, depends on the situation. If you have alot in accural then it might benifit you income/expense wise and in generating reports when you have to go to the banker.</p><p>If you sell alot on credit accrual reports show that. </p><p>But could be more painful farm programs...for example CAIS for canadian....more paper work can be painful....to the tune...ouch my head hurts painful.</p><p>Cash is more simple...money in money out.</p><p></p><p>Your accountant is your best sourse of advice. Kind of like a good vet should be the source for good cattle...livetock...advice</p></blockquote><p></p>
[QUOTE="rockridgecattle, post: 492184, member: 6198"] not an accountant, just a book keeper for my records. We have an accountant which i would recommend to any farmer. Tax laws are complex so...pay the bucks and get a good accountant. If you do the bookwork it will save $ but the tax accountant can save you on filing Cash VS accural, depends on the situation. If you have alot in accural then it might benifit you income/expense wise and in generating reports when you have to go to the banker. If you sell alot on credit accrual reports show that. But could be more painful farm programs...for example CAIS for canadian....more paper work can be painful....to the tune...ouch my head hurts painful. Cash is more simple...money in money out. Your accountant is your best sourse of advice. Kind of like a good vet should be the source for good cattle...livetock...advice [/QUOTE]
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