- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
re: Starting a buisness (farming) and curious where to start
Posted on 2/17/17 at 9:35 pm to Decisions
Posted on 2/17/17 at 9:35 pm to Decisions
quote:
It doesn't take long to run through a million in farming. Our seed and fertilizer expenses alone this year were about half a million, and we're not close to the biggest operation in our area.
This is amazing to me.
How much money can you make from selling what you grow?
Posted on 2/18/17 at 6:25 am to StringedInstruments
Farming nowadays is big business or huge business, no little guys left. Go to the LA/ARK/MS delta areas and 2000 acres is about a medium to small size operation.
For the OP
So see a tax attorney or CPA who specializes in AG businesses and taxes, they are out there just have to find them. Talk to farmers and ranchers to run down some names. If you wouldn't mind keeping this updated I would appreciate it, I plan on doing the same exact thing in the next year or two.
For the OP
So see a tax attorney or CPA who specializes in AG businesses and taxes, they are out there just have to find them. Talk to farmers and ranchers to run down some names. If you wouldn't mind keeping this updated I would appreciate it, I plan on doing the same exact thing in the next year or two.
Posted on 2/18/17 at 11:58 am to StringedInstruments
quote:
How much money can you make from selling what you grow?
Depends on the price of the crop. We're rice, crawfish and some years soybean farming family. We've never lost money but we have many years have had all bills paid and had money to put in our retirement account. Some years are better than others BUT you don't spend that "extra" money -- you keep it to start the next years crop so that you don't have to borrow as much which equals less interest on the loan.
I'm super thankful that my husband is a great farmer and a great business man.
eta: we have a little more than 2000 acres of land; we own a little but the rest is either family land or land that we rent. This year he'll be planting about 1200 acres of rice and is undecided on soybeans at this point. He often gets calls from a landowner asking him to pick up their land. If it's a good situation location and water source wise he'll consider it. It can be a good life -- but it can also be a difficulty one just like any job. It has its good and bad days.
This post was edited on 2/18/17 at 12:02 pm
Popular
Back to top
Follow TigerDroppings for LSU Football News