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Who's breaking even or better?
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<blockquote data-quote="Jim62" data-source="post: 486385" data-attributes="member: 6655"><p>Not I. I only keep about 20 head of momma cows. If I just go by actual annual expenses, I make a profit. But, when you add in depreciation and stuff like that, it's a loss again. I really don't see any way to be making a profit with just a small herd.</p><p></p><p>My tax guy thinks it might be time to become a hobby farm. Not sure how that works from the IRS point of view. Might be better off to just shut down the farm, and do the cattle under the table, so to speak, i.e. no deductions and no income reported at all.</p><p></p><p>Possible ??</p></blockquote><p></p>
[QUOTE="Jim62, post: 486385, member: 6655"] Not I. I only keep about 20 head of momma cows. If I just go by actual annual expenses, I make a profit. But, when you add in depreciation and stuff like that, it's a loss again. I really don't see any way to be making a profit with just a small herd. My tax guy thinks it might be time to become a hobby farm. Not sure how that works from the IRS point of view. Might be better off to just shut down the farm, and do the cattle under the table, so to speak, i.e. no deductions and no income reported at all. Possible ?? [/QUOTE]
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