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Son statrting farming
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Posted 5/23/2020 11:32 (#8275199 - in reply to #8274629)
Subject: RE: Son statrting farming

Floyd County, Iowa
Just my opinion here.
I would not "deduct" for barn/shed space. I would pay him. I think it's better to have accurate records. He may need actual production records and a paper trail someday when he has to sit down with a financial institution for loans, or even to figure projections, etc.
Besides, if you charge each other accordingly, the net result will be the same. It's a business, even if it's a "family" business, just as well treat it as one.
My 2 cents
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