2019 Annual Farm Summary

One of the things I told myself I would do when I started the blog was to be honest about the things that happen on a small farm and why both my wife and I have full time jobs. This year we decided to take the plunge and purchase haying equipment. The real problem with this decision is we have a small tractor and needed micro hay equipment. This is not manufactured in our country, we ended up purchasing equipment made in Italy. I wanted something new thinking that this would cut down my maintenance needs and expenses, time will tell on this decision. I will be sticking with the IRS categories for a farm as that is how my lovely bride uses the categories when she does the taxes.

INCOME total: $7600 from the sale of sheep and cows

EXPENSE total: $64,159

Animals cost $0

Truck & Expenses cost $0

Chemicals cost $0. We did not spray any weeds in 2019.

Custom Hire cost $0

Depreciation cost $0

Fertilizer cost $0

Freight and trucking cost $1916

Equipment cost $33,963

Conservation Expense cost $260

Insurance cost $1655

Vet/Breeding/Medicine cost $332

Purchased Animals cost $0. We did not buy any sheep.

Taxes cost $799

Utilities cost $0

Seeds/Plants cost $702

Gasoline/Fuel/Oil cost $400

Supplies cost $13,367

Feed cost $7306

Rent/Lease cost $924

Repairs/Maintenance cost $2535

Total Income was a loss of $56,559 for 2019. We knew we were going to have to bear a financial burden for the equipment but are hopeful that in four years we will have the equipment paid off and our expenses will drop dramatically for feed.

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