Angus Cowman I have been told the same thing.
SRBeef When I first started this post I thought it would be helpful to people to see that there are was to thin out some of your cattle expenses. I kept seeing post of people wasting money some wanting help with it and some couldn't see that it could be done cheaper. It would also give me something look at to help remember more about someone setup before I posted something to try to help them.
Instead I ended up learning a lot more about my farm and some of the waist that we have that needs to get addressed. For example my wife drawing payroll for doing the family company books when we have an off site CPA to help her out. There's so munch more involved with the cash flow that I did not know was happening that I need to get a control on.
She's telling me trucks and tractors are 10 years for us.
The shop addition was 20 years.
We put in water pumping system; instillation of 3 large gravity ram pumps, a utility building that has 20,000 gallon storage for a basement, piping to feed water to 1000 acres not as irrigation but as hydrants for animal water, a 220 pump for supplying water where gravity would not work, close to 3 miles of 4" metal pipe and 3 miles of 3" plastic piping. Part of it was for 10 years and part was for 20 years.
Our fertilizer and lime silos were 7 year.
One of the large parts of deprecation would be where your farm is now and where you will be in 10 years. Long term planning on other large purchases should also be looked at.
I was told in 2008 that I had to spend X amount of money on a shop expansion, farm truck, tractor, or a third fertilizer silo. I went with a new truck and I know it has something to do with taxes and the deprecation schedule but that's it.
SRBeef When I first started this post I thought it would be helpful to people to see that there are was to thin out some of your cattle expenses. I kept seeing post of people wasting money some wanting help with it and some couldn't see that it could be done cheaper. It would also give me something look at to help remember more about someone setup before I posted something to try to help them.
Instead I ended up learning a lot more about my farm and some of the waist that we have that needs to get addressed. For example my wife drawing payroll for doing the family company books when we have an off site CPA to help her out. There's so munch more involved with the cash flow that I did not know was happening that I need to get a control on.
She's telling me trucks and tractors are 10 years for us.
The shop addition was 20 years.
We put in water pumping system; instillation of 3 large gravity ram pumps, a utility building that has 20,000 gallon storage for a basement, piping to feed water to 1000 acres not as irrigation but as hydrants for animal water, a 220 pump for supplying water where gravity would not work, close to 3 miles of 4" metal pipe and 3 miles of 3" plastic piping. Part of it was for 10 years and part was for 20 years.
Our fertilizer and lime silos were 7 year.
One of the large parts of deprecation would be where your farm is now and where you will be in 10 years. Long term planning on other large purchases should also be looked at.
I was told in 2008 that I had to spend X amount of money on a shop expansion, farm truck, tractor, or a third fertilizer silo. I went with a new truck and I know it has something to do with taxes and the deprecation schedule but that's it.