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central Virginia | Tough crowd. If the operation is prepaying next year inputs you all are fine. It wasn't mentioned if the agriculture adventure was started with household savings or bank note. If the funds came from home three farm should at least be paying interest to the household. Principle?... that's up to the two of you.
7 years deep it should be fairly easy for him to value all assets, then subtract investments made and current debt. That number will be profit. Farming is not a high hourly paying job. I don't fault your husband for not calculating labor.
Don't avoid taxes for the sake of not paying taxes. No taxes=NO PROFIT.
Someone needs to keep records plain and simple. | |
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Farm wife talking. Please help me understand
