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Anamoose, ND | I am looking for a better/easier way to have our farm structured that would simplify taking care of bills. The way we are set now our farm is actually two farms but all inputs are purchased through one account name. This sounds simple enough but when bills arrive I have to go through each statement and total all the charges separately then divide each product by the acres applied, complicating maters is the fact that we have 6 different crops in the ground all of which have their own fertilizer blends/chemical programs. Throw in years like this where because of PP acres we have prepay amounts left over, seed left over, ect.....it begins to be a real mess. Anyone have any advice for a father and son operation to simplify things.........and no dad is not ready to retire! :)
What I would like to get to is where we farm as one farm on a percentage for each, I am not sure how to go about this though. My dad owns land and rents, myself I rent everything. The way we are right now the tillable acres are almost half and half between us and quality of land between us is very close. Is it possible to set the farm up and just call it 50/50 or whatever the exact percentage is? Does setting it up like this cause problems with FSA or crop insurance? Life sure seems like it would be easier if we could just manage the farm on a percentage for all the inputs and come harvest just apply the same percentage to all grain harvested. Thanks for any info........ | |
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Farm Structure Question?
