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My Yearly Cattle costs are 55 cents/day/cow in Texas, What am I doing wrong?
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<blockquote data-quote="TexasRancher" data-source="post: 1728507" data-attributes="member: 8359"><p>Yes, I've started looking at those depreciation forms...but i'm so low key ...it's not needed. I sell my calves at 500 to 700 lbs, 600 is ideal at around 9 months, i go under and over due variations in births dates..2 to 4 months out. I don't stack weight on calves for profits...mother's self ween them.</p><p>Ken, the IRS rode my coattails for years...it was a lot of fun. You will always have a friend in the IRS to talk with about fishing, hunting and cattle when you get old. I'm not afraid of any government entity...I'll work with them. I enjoy them...however one woman made me cry literally...she was THAT good and abusive. Afterwards i was coddled by a nice IRS gentleman, like myself, and we resolved the entire issue in 7 minutes... what she failed to do in 3 years.</p><p>Ken, please get you Ag-Timber exemption card at minimum...for farm purchases. Print off the "Schedule F" form and look at it...it's easy to fill out. Your 1040 would be easy too....unless you're in hiding. As my father always told me..."don't worry about it...just do your best" sounded like weak, silly advice...but it was the backbone of my entire life.</p></blockquote><p></p>
[QUOTE="TexasRancher, post: 1728507, member: 8359"] Yes, I've started looking at those depreciation forms...but i'm so low key ...it's not needed. I sell my calves at 500 to 700 lbs, 600 is ideal at around 9 months, i go under and over due variations in births dates..2 to 4 months out. I don't stack weight on calves for profits...mother's self ween them. Ken, the IRS rode my coattails for years...it was a lot of fun. You will always have a friend in the IRS to talk with about fishing, hunting and cattle when you get old. I'm not afraid of any government entity...I'll work with them. I enjoy them...however one woman made me cry literally...she was THAT good and abusive. Afterwards i was coddled by a nice IRS gentleman, like myself, and we resolved the entire issue in 7 minutes... what she failed to do in 3 years. Ken, please get you Ag-Timber exemption card at minimum...for farm purchases. Print off the "Schedule F" form and look at it...it's easy to fill out. Your 1040 would be easy too....unless you're in hiding. As my father always told me..."don't worry about it...just do your best" sounded like weak, silly advice...but it was the backbone of my entire life. [/QUOTE]
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My Yearly Cattle costs are 55 cents/day/cow in Texas, What am I doing wrong?
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