Posted 5/23/2020 07:46 (#8274763 - in reply to #8274629) Subject: RE: Son statrting farming
I started farming some of my own land a few years back..this can be kinda complicated.. custom rates seem kinda high for this situation.. how much does he discount for his labor and all? We finally put a market value on the equipment and split it by the percentage of the ground that each of us farms.. and that’s what I owed dad for equipment. At the end of the year we settle the repairs and maintenance the same way.. it’s an advantage for both and we upgraded some equipment with the money I owed for my share. Labor is kinda a wash in this situation but we both help each other out.