Posted by JD Seller on July 09, 2017 at 22:34:22 from (208.126.196.24):
In Reply to: Re: Winter wheat. posted by gordosd on July 09, 2017 at 22:14:16:
Gordo equipment costs money. Tax deductions do not make payments. You still have to earn the money some where to pay for the equipment.
So your costs did not include a cost for planting or harvesting your wheat?? How about fuel?? Your doing kind of the same thing the other fellow did years ago. Your quoting a profit that is not "real". It does not include all costs.
Are you going to say the same thing as the other fellow??? "He said he owned the ground any way and since his equipment was paid for it did not cost him anything." LOL To a fellow struggling to pay for his old cheap equipment and make his land payments, that statement was not warmly welcomed.
Gordo I am not trying to pick on you. I just know that few farmers in SD are going to make much this year. The dry weather coupled with crop prices are going make for tough going for many.
I really watch what I post about farm finances/acres/crops/rents because unless you have the knowledge of the entire business it is easy to give people the wrong impression. Farming in general is a low margin high capital business. So you can easily handle large sums of money and not make a dime.
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