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SE IL | For the record here folks coup is one sharp guy and very hard worker, probably in the top 1% of farmers managing their farms. I agree with some there are different ways to skin a cat. As some mentioned there are guys that will continue using a LOC and pay off land instead with extra cash. Same for equipment. I’m not saying that is wrong, but it shows we have long forgotten that cash is king. All that equity in land doesn’t mean squat if you have to borrow to put the crop out, and bank says no. It hasn’t always been easy to use available equity to borrow against.
As for the OP KevinM in new thread summed it up, depends what your goal is. Any good manager will do a yearly balance sheet or something similar to know how their finances fared that year. Taxes are a piss poor way to decide one’s financial health. | |
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Balance sheet adjustment
