Re: 300 acres corn soybeans, what HP tractor

Posted by mkirsch on January 18, 2011 at 05:18:10 from (64.80.108.57):

In Reply to: 300 acres corn soybeans, what HP tractor posted by arod on January 17, 2011 at 16:45:29:

arod, the most important thing you should be looking for is a mentor, someone to show you the ropes.

It takes more than a big smile on your face and a 100HP tractor to "farm it."

Using the farm as a tax shelter and writing off a bunch of shiny new equipment is a nice idea, but that's assuming the crops are going to turn a profit. What if it's a bad growing year? You get to watch the equipment dealer load all your shiny new equipment up and take it away while the Sheriff stands next to you with his hand on his gun.

Not only will they load up the equipment, they'll load up your dignity, and your credit rating.

Even if it means giving Uncle Sam more than is absolutely necessary, stick with the plan of using equipment that you can afford with minimal proceeds from the farm. Odds are your first crop won't be optimal even if the growing conditions are ideal, because you don't know what you're doing.

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