Posted 5/23/2020 06:35 (#8274629) Subject: Son statrting farming
My son starting renting a farm close to the home farm. He is wanting to start out farming on his own and getting started using my equipment. I think that's great, however heres the small issue of what to charge him for equipment use. I used state custom farming rates (work ground and plant). Complication comes in is that I use his barn to keep some of the equipment in. My thought is to pay him a fair rate for equipment storage and take that amount off equipment use bill. Thoughts and opinions would be great. PS is he taking care of all the ground rent and imputs.