Posted 12/1/2024 20:56 (#10991332 - in reply to #10990499) Subject: RE: Farm wife talking. Please help me understand
Central NE
he didnt say no profit, he said no money. all the profit is going back in to more cattle, or paying off cattle, or other so no money to pull out of the bank to show.
to the original poster, i would ask how much in taxes does the farm pay? take the adjusted gross income from the farm that is subject to tax and add back section 179, bonus depreciation, and depreciation from schedule F and add them all together.