Friday cocktail and end-of-week discussion

[farmaholic]

I always thought AgStab had checks and balances in place to track income, expenses, deferreds, pre-bought expenses, inventory, etc.

That's all well and good for honest people. But what about multiple accounts being filed under what looks like one farming operation from the outside but may have several tax filing entities under it?

Income taxes, crop insurance and Agstability could all be manipulated under that scenario. Not as easy to do under a single entity operation. I can say I don't know anyone who has collected from AgStab.

In some cases where there's a will there's a way to dupe the system.
SF3, if you can't beat them, join them. Play the shell game with all the items in the first paragraph of my post. Maybe your sons will be "going broke" on paper the first few years!

[Old Cowzilla]

In all the years my accountant has done Ag Stab. the only farms he tells to stay in it are the one's in cattle. When the cattle market go's south it go's south really bad. Corp bailout with Ag Programs has been going on for years the broke colonies 20 years ago have the nicest yards and the biggest , newest machinery in the area.

[SASKFARMER]

Just back from my 40 Th reunion from the UofS. So great to see all the guys and girls who attend. Both college and school grads.

Awesome ill go back for my next one and hope to run into others again.

Canola slow today but Soy going up and so is wheat.