You haven't told us who your partners in this venture are. It's an inheritance? Or whether they want to hire a complete novice to farm a million dollars worth of land. With 20 thousand dollars worth of old junk machinery? I gather from your post that you are committed to do some "farming". Keep your day job. Split the difference. Rent 200 acres. Farm 100 for 3 years. see how well you do. Talk to your tax CPA on benefits of depreciating new farm equipment. WOuld you rather pay the IRS taxes on 100k sales of crop or deduct it all for equipment? Meanwhile start spending your nights reading the various state ag .EDU sites , watching RFDTV and hangin out at the truck stop where the real farmers go in the winter.
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Today's Featured Article - Show Coverage: Journey to Ankeny - by Cindy Ladage. We left Illinois on the first day of July and headed north and west for Ankeny, Iowa. Minus two kids, we traveled light with only the youngest in tow. As long as a pool was at the end of our destination she was easy to please unlike the other two who have a multitude of requirements to travel with mom and dad. Amana Colonies served as a respite where we ate a family style lunch that sustained us with more food than could reasonably fit into our ample physiques. The show at Ankeny
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