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Farm wife talking. Please help me understand
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Brian Smith
Posted 12/2/2024 13:59 (#10992229 - in reply to #10990188)
Subject: If he wants to farm full time then you both better figure it out


It doesn't sound like you are working off a pile of paid-for land. You both need to understand what are the operating financials including paying yourself. This is not the tax financials as that is a different set of important numbers. There is 100% a way to track this...saying you cannot do so easily is just an excuse not to do it. It just takes work and yes it is hard and it sucks - at least initially. Go find a competent accountant to set up a structure for the two of you to "fill in the blanks". You two can do the leg work...the accountant can just set up the foundation.

Do it now...not later! You don't want to wake up one day and think OMG I think we have to have an auction because we're broke. How did this happen?

There is 0 time for arguments because it doesn't sound like either of you know...so end those and find someone that does - quickly.

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