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Failing badly at this Dairy lark

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    #92
    Aska
    Registered Users Posts: 373 ✭✭Aska


    Deepsouthwest wrote: »
    The income from that set up should leave u far more than €500/€650 a week, plus u get to live at home and see ur wife and child every single day, which is more important than any job. Leaving to go driving in England would torture me, esp with a 3 yr old, and a wife who's supported through this all.


    That's what I was thinking when you added up all the setting figures together, even leave the UK out of it, getting a local job driving for say 500 a week take home and home each evening by 6-7pm would work out like two wages a week.

    It's damn hard not to think that may be the way forward.


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    #93
    Farmer Pudsey
    Registered Users Posts: 6,326 ✭✭✭Farmer Pudsey


    the_syco wrote: »
    General question to the farmers here; would being a farmer be classed as self employed in the eyes of the tax man, and if so, can you write stuff off that you buy against tax?

    And if so, who should the OP talk to regarding certain things against his tax bill? Esp with all the tightening up of what a self-employed person can write stuff off as work related that has happened in the last year or two.

    Yes you are classed as self employed. The big thing with this is getting to the scale where you can work the system However some lads can never work the system. By the way not referring to this thread.

    screamer wrote: »
    Do the sensible thing- sell up and move away. Put your own family first, land is just land, it won't keep you warm at night. Many a person I have seen spend a miserable existence with this addiction to "de land", you've not got it, so sell up, give your auld lad whatever you think is fair (if anything at all) and get out of there, simple.

    Selling is the last thing I would do. OP can always get a local handy job, postman, milk lorry driver etc. Sell the dairy set up and put 100 FRX bullocks on the place. However that is not for everyone either. At present he is at the low ebb of the tide. It is important to remember the glass half full.


    This is often what keeps old pudsey going. First came across it about 15 years ago

    http://www.theweatherprediction.com/humor/life/


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    #94
    Deepsouthwest
    Registered Users Posts: 2,282 ✭✭✭Deepsouthwest


    Aska wrote: »
    That's what I was thinking when you added up all the setting figures together, even leave the UK out of it, getting a local job driving for say 500 a week take home and home each evening by 6-7pm would work out like two wages a week.

    It's damn hard not to think that may be the way forward.

    What I meant was staying farming with those kind of numbers would leave u far more than u would ever earn driving a lorry.


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    #95
    il gatto
    Registered Users Posts: 3,021 ✭✭✭il gatto


    Farmer Pudsey wrote: »
    Yes you are classed as self employed. The big thing with this is getting to the scale where you can work the system However some lads can never work the system. By the way not referring to this thread.




    Selling is the last thing I would do. OP can always get a local handy job, postman, milk lorry driver etc. Sell the dairy set up and put 100 FRX bullocks on the place. However that is not for everyone either. At present he is at the low ebb of the tide. It is important to remember the glass half full.


    This is often what keeps old pudsey going. First came across it about 15 years ago

    http://www.theweatherprediction.com/humor/life/

    Postman is not easy to get. Know lads who waited on panels years and did relief work at Christmas and everything and some fellas cousin or brother or nephew walks in ahead of them.


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    #96
    il gatto
    Registered Users Posts: 3,021 ✭✭✭il gatto


    Aska wrote: »
    Yea I see your point, tbh if I got out of the cows I doubt I would have the interest in getting back into them, but that is a hard one to call as a possible return to cows would be down the road if I sold off now.




    Sorry, I must have worded it incorrectly, the 250 a week was from when I took over (early '11) till he reached pension age in late '13. It drained me of a lot did that 2 and a half years, it was a grand a month when money was very tight hence the previous regimes bills actually grew because at that point I was paying for two houses and all the trimmings.






    I don't know much about the suckler but just my opinion, I can't see where getting out of one type of stock and replacing them with another is going to make things any different, well I guess I would manage without roads as sucklers would be easier manage when moving paddocks, maybe!


    As for veg etc. there are a lot of guys around this area doing spuds and veg, Dockrell's Veg is a major business in the area so I guess more so they are other people who may look into the land if it was to become available for setting, the more the merrier eh! ha






    That is very true, she's a star. But it would be nice to be able to treat her well too, you know meals etc. at present that doesn't happen and it's not a nice feeling



    Yes everyone here seem to have good opinions, there is no bad opinions, just maybe ones that don't suit certain circumstances.

    As most people say, pressure is for tyres haha and at this point I just feel like bursting,

    I meant get into sucklers and work outside the farm. They're a lot less work than milking. I know loads of lads who have full time jobs and 50-100 animals. These days with shear grabs and bale splitters etc. one man can look after those numbers in a few hours a day. You won't maximise the farms potential but you should make a nice lump on top of a day job. Need a slatted house by right though.
    If your a fella who likes the driving fair enough but I hate it on anything but a nice day. I couldn't be heading off to UK and leaving the missus and the dog every week. You do what you have to do to get by, I know, but if that means leaving your family and fireside all the time, f@ck it. Rather be poor.


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    #97
    greysides
    Moderators, Society & Culture Moderators, Sports Moderators Posts: 8,974 Mod ✭✭✭✭greysides


    I can't help you with your decisions but having read through your posts on the thread I can't help but think, like several others, you need counselling. I think you aren't giving yourself enough credit for what you've achieved already and are overly dwelling on the negative. It's easily done.
    I can't commend you enough for starting this thread and sharing your problem as, apart from the suggestions it has raised, it is a good first step to opening up and getting help. I think you realise you need to do so and I think you need to talk to someone who can help you professionally.
    Then once you're grounded properly again you'll be much better placed to take on board farming advice and make the decisions you need to make.
    Your head rather than your debt could be your biggest problem. Best of luck, I'd have faith in you!

    The aim of argument, or of discussion, should not be victory, but progress. Joseph Joubert

    The ultimate purpose of debate is not to produce consensus. It's to promote critical thinking.

    Adam Grant



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    #98
    BrianBoru00
    Registered Users Posts: 1,035 ✭✭✭BrianBoru00


    Not a farmer but fascinated by it and would love to get into it as a hobby.
    The gra for the land in the F&F board is always inspiring.

    To the OP, I'd echo the sentiments that you're a roaring success story and I'm sorry that there is friction at home so to speak but from your posts it comes across as if you also love farming so I think it would be a pity that you grew to resent /didn't care about it were you to sell / rent the land.

    3 years of paying loans to the banks? I'd also go a long with the idea of releasing some cash via a small loan extension to give yourself more breathing space.

    Best of luck regardless and well done on your achievements so far.


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    #99
    whelan2
    Registered Users Posts: 29,152 ✭✭✭✭whelan2


    Have a few questions, do you have an overdraft? YoU say the merchant wont get anything this month and got nothing last month, how does this work? I have been there with feck all money but every month I write a list of who is owed what then beside it write how much i can realistically pay, food on the table,esb, loans, are the main priority . Then everyone gets a small bit. Then put a line through it when its gone out of my account. Who minds the child when your oh is working? You said in your op that the last guy you drove for was hard to get full time work etc, I dont know if this has changed since then, oh has his own lorry and apart from the last 2 days has done no work in the lorry for the last 3 weeks. Realistically where do you see you and your family in ten years time? Sorry for the long post, you said you had 45 euro to do you the month, there are plenty of deals on the internet , think maldron hotels have a good deal, milk early one evening off to a hotel for the night-one with a swimming pool for the kid and b&b included- and relax , cows will still be there the next day but the break would be good for all of you.


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    #100
    Sam Kade
    Registered Users Posts: 12,313 ✭✭✭✭Sam Kade


    whelan2 wrote: »
    Have a few questions, do you have an overdraft? YoU say the merchant wont get anything this month and got nothing last month, how does this work? I have been there with feck all money but every month I write a list of who is owed what then beside it write how much i can realistically pay, food on the table,esb, loans, are the main priority . Then everyone gets a small bit. Then put a line through it when its gone out of my account. Who minds the child when your oh is working? You said in your op that the last guy you drove for was hard to get full time work etc, I dont know if this has changed since then, oh has his own lorry and apart from the last 2 days has done no work in the lorry for the last 3 weeks. Realistically where do you see you and your family in ten years time? Sorry for the long post, you said you had 45 euro to do you the month, there are plenty of deals on the internet , think maldron hotels have a good deal, milk early one evening off to a hotel for the night-one with a swimming pool for the kid and b&b included- and relax , cows will still be there the next day but the break would be good for all of you.
    With Dairygold if you go over a certain limit with credit they will shout stop and tell you that your account won't be opened until it's cleared. Usually happens if you don't make a payment for 2 months.


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    #101
    Sam Kade
    Registered Users Posts: 12,313 ✭✭✭✭Sam Kade


    the_syco wrote: »
    General question to the farmers here; would being a farmer be classed as self employed in the eyes of the tax man, and if so, can you write stuff off that you buy against tax?

    And if so, who should the OP talk to regarding certain things against his tax bill? Esp with all the tightening up of what a self-employed person can write stuff off as work related that has happened in the last year or two.
    You can but buildings and machinery can only be offset against tax over a number of years 5 I think.


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    #102
    Aska
    Registered Users Posts: 373 ✭✭Aska


    whelan2 wrote: »
    Have a few questions, do you have an overdraft? YoU say the merchant wont get anything this month and got nothing last month, how does this work? I have been there with feck all money but every month I write a list of who is owed what then beside it write how much i can realistically pay, food on the table,esb, loans, are the main priority . Then everyone gets a small bit. Then put a line through it when its gone out of my account.

    Yes a 5k overdraft, maxed out.

    I have talked to the two merchants (private owned co. not Glanbia) and they know the story and all is ok with them cause come the end of the year I will get it paid off if not almost paid off. So they do cut me some slack (no calls etc.), but they also know the father so that helped in their leniency as they know what I am dealing with. so this month they may not get anything due to oil and car tax and insurance, tractor repairs etc. so until I see what is in next weeks cheque I can't be certain of what will be left available.

    whelan2 wrote: »
    Who minds the child when your oh is working? You said in your op that the last guy you drove for was hard to get full time work etc, I dont know if this has changed since then, oh has his own lorry and apart from the last 2 days has done no work in the lorry for the last 3 weeks. Realistically where do you see you and your family in ten years time?.

    Sorry I must have made a pervious reply confusing. before I came home I was working for one near by haulier for a few years, like everything in the country the work dried up but rather than let anyone off he insisted on holding on to everyone and in the process us drivers only got 1, 2 maybe 3 days a week. so after all the years driving I did have some savings however they diminished rather quickly when I had almost 5 months of that carry on happening, I had personal loans at the time and a mortgage so they ate away at my reserve, so when I came back to the farm I had very little in my own savings.


    Her mother looks after the young one, that's 120 a week. the OH works irregular hours some weeks so a regular childminder wouldn't suit so the OH is left with around 200 most weeks and she sorts food etc. and has a small loan of her own too from when she was in OZ a number of years ago.

    whelan2 wrote: »
    Sorry for the long post, you said you had 45 euro to do you the month, there are plenty of deals on the internet , think maldron hotels have a good deal, milk early one evening off to a hotel for the night-one with a swimming pool for the kid and b&b included- and relax , cows will still be there the next day but the break would be good for all of you.

    I know a break would be good, but.... haha


    I know some have said I need counselling, maybe I am in denial but I am not seeing that, what I see is a place that has taken so much out of me over the past few years. Am I depressed? yea probably, a tear or 2 have been shed at regular periods but that's me not seeing an end in sight, yes it may be there and others can see it but at present I am not.

    When I used the statement earlier about curling up and dying I wasn't referring to suicidal tendencies that I may have 'cause no matter how bad things are and may be I won't do that to herself or the child. I have an 'out' option, I could slap a for sale sign in the gates and move on, setting it maybe the better option but I know of no one who went down this route.

    It's embarrassing when they go on holidays in May and you are there trying to find a few quid for them to have to spend.


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    #103
    Milked out
    Closed Accounts Posts: 3,433 ✭✭✭Milked out


    Sam Kade wrote: »
    You can but buildings and machinery can only be offset against tax over a number of years 5 I think.

    Buildings can be written off over 8 yrs i think and machinery over 7 afaik.


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    #104
    MickeyShtyles
    Registered Users Posts: 1,371 ✭✭✭MickeyShtyles


    " I could slap a for sale sign in the gates and move on, setting it maybe the better option but I know of no one who went down this route"
    What do you mean by setting it?
    Renting it out?


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    #105
    Milked out
    Closed Accounts Posts: 3,433 ✭✭✭Milked out


    Aska wrote: »
    Yes a 5k overdraft, maxed out.

    I have talked to the two merchants (private owned co. not Glanbia) and they know the story and all is ok with them cause come the end of the year I will get it paid off if not almost paid off. So they do cut me some slack (no calls etc.), but they also know the father so that helped in their leniency as they know what I am dealing with. so this month they may not get anything due to oil and car tax and insurance, tractor repairs etc. so until I see what is in next weeks cheque I can't be certain of what will be left available.




    Sorry I must have made a pervious reply confusing. before I came home I was working for one near by haulier for a few years, like everything in the country the work dried up but rather than let anyone off he insisted on holding on to everyone and in the process us drivers only got 1, 2 maybe 3 days a week. so after all the years driving I did have some savings however they diminished rather quickly when I had almost 5 months of that carry on happening, I had personal loans at the time and a mortgage so they ate away at my reserve, so when I came back to the farm I had very little in my own savings.


    Her mother looks after the young one, that's 120 a week. the OH works irregular hours some weeks so a regular childminder wouldn't suit so the OH is left with around 200 most weeks and she sorts food etc. and has a small loan of her own too from when she was in OZ a number of years ago.




    I know a break would be good, but.... haha


    I know some have said I need counselling, maybe I am in denial but I am not seeing that, what I see is a place that has taken so much out of me over the past few years. Am I depressed? yea probably, a tear or 2 have been shed at regular periods but that's me not seeing an end in sight, yes it may be there and others can see it but at present I am not.

    When I used the statement earlier about curling up and dying I wasn't referring to suicidal tendencies that I may have 'cause no matter how bad things are and may be I won't do that to herself or the child. I have an 'out' option, I could slap a for sale sign in the gates and move on, setting it maybe the better option but I know of no one who went down this route.

    It's embarrassing when they go on holidays in May and you are there trying to find a few quid for them to have to spend.


    You have made progress in increasing numbers and keeping the place going, and you have also spoke to those you owe money too and there is know doubt they respect you for that. it could be the resentment of your father that could be making all that needs to be done seem much more impossible to get thru. most of us have been there at some point where days and months could be spent going thru stuff in your own head and it can really wear you out. i assume this is what most mean by a councillor being a good idea, not that there is anything wrong with you but just that they can be the person to vent and fcuk and blind to if you want, more a chance to blowout if nothing else.
    On the farming front as others have said if you can put down on paper all debts owed and then talk to the bank about putting things over a longer period it will ease cash flow pressures and even in a few years when you get ahead of things you can always pay a bit extra off it if u want . Joining a discussion group as the lads said would be a massive gain as the majority will give you options you wont see yourself. Two people which may help you in making both farm and finances more manageable would be a good ag accountant and an ag advisor be it teagasc or private. They will have seen or dealt with cases similar worse and better than yours and are people you can trash things out wit in private on a business sense. You are doing a good job and just need a bit of direction and to get the resentment out of your head to think clearly


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    #106
    Timmaay
    Registered Users Posts: 11,394 ✭✭✭✭Timmaay


    In general there is still a serious stigma against councilling etc, as far as I'm concerned seeing a councillor should be seen in the same light as visiting a dentist if you got a tooth ache or going to a physio for a sports injury, you wouldn't bat an eyelid about doing either of the 2nd two things there, but having to go see a councillor is seen as some sort of failure still.


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    #107
    whelan2
    Registered Users Posts: 29,152 ✭✭✭✭whelan2


    you probably dont need to go to a counsellor but by talking on here and not bottling it up it feels like its a problem shared. Not being smart here but whats stopping you looking after the kid and saving the 120 a week?


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    #108
    Timmaay
    Registered Users Posts: 11,394 ✭✭✭✭Timmaay


    whelan2 wrote: »
    you probably dont need to go to a counsellor but by talking on here and not bottling it up it feels like its a problem shared. Not being smart here but whats stopping you looking after the kid and saving the 120 a week?

    Us men can't multi task ha :p


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    #109
    Panch18
    Closed Accounts Posts: 2,471 ✭✭✭Panch18


    Aska wrote: »
    A lot of posters talking of consolidating loans, can I ask this then please. What about setting the place? has anyone done this before or been close to someone who has?

    Maybe I am looking at it with rose tinted glasses but all I can nearly see is good from that scenario.

    95 Acres
    58 Cows
    8 Maiden heifers
    11 FR H calves
    1 FR Bull.
    (2 x sheepdogs ha)
    Sheds
    Machinery
    SFP (10k)

    Surely that would draw in some amount of money while then working (driving again) for 500 a week in the hand if in Ireland or 650 for UK Ireland. While also getting a life back

    Aska - first things first - I have a neighbour with almost identical number of acres, cows etc. and he has paid 25k per annum in tax for the last few years - so the income is there to be made from your set up - so that should be your number 1 goal and gives you something to focus on

    There are 2 separate but related issues here from what I can see, firstly there is a financial mess and secondly the farm could do with updating/improving. Be under no illusions that the financial side is by far your biggest problem, things like roadways etc. are only a side issue and will sort themselves out once the finances are sorted

    So the first thing that you should do list all of your loans, how long is left on repayments of your loans. all of your amounts outstanding to creditors and how much your monthly repayments are. I would include your personal loans in this as well - because I have a feeling that they are draining you as much as anything

    List them all and we can start from there

    also you don't need a bloody counsellor - you need the best financial advice possible - because money is the cause of all of your problems and worries - sort that out and you won't give a damn about the father and his smart ass comments


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    #110
    lakill Farm
    Registered Users Posts: 4,735 ✭✭✭lakill Farm


    I have followed this thread since yesterday and only giving my opinion, a mix of professional opinion based on current experiences and my limited farming experience.

    * 5 year farm plan if you had no financial constraints , listed in order of preference ( realistic items like more stock, or reseeding)
    * cost benefit of each of the items in the plan to the enterprise. ie roadways or reseeding our housing etc
    * sit down and complete a business plan with a professional
    * go and refinance your remaining 3 year loan and the farm development into a 10 year loan . put a cap of 80-100k on the loan. it will be paid when your 50 and you will have 10 years of benefit from the investment now
    * 80/100k loan over 10 years will be the single farm payment worst case and no other payments each month. Your cashflow will improve
    * the investment can be offset against the tax. selling 7 cows (€7,000) killed your potential earning so set up a monthly direct debit.

    other ways of financing
    * milk cows on relief maybe to fit around your own milking. Boost your income
    * rent a few acres to the veg lads? and as part of the plan they reseed with grass seed?
    * keep bull calves till 10 months old and sell to boost your reduced winter income


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    #111
    just do it
    Registered Users Posts: 5,422 ✭✭✭just do it


    OP

    First and foremost fair f*cks for your honesty and getting it off your chest. Maybe this thread will be a great step on the road to recovery.

    I also took over a few years ago and couldn't see the progress I'd made, rather the things I still needed to do. I too would have been embarrassed to have people visit. However now that I've visited plenty good well respected farms I'm realising it ain't that bad. What I'm trying to say is if you join a discussion group you'll suddenly realise the farms that you think are brilliant also have warts. You will also find most the lads will know you're scenario, be able to guess the financial straights you're in, and be very supportive. I reckon a few outings with them will give you back your mojo :)

    In effect you've stood back and are looking at what is your next best move. You've stood outside the forest so you can see the trees. Decide on your strategy and go for it. What I see from the posts is a farm that is in transition and you are now on the brink of making a real go of it. Looking at your SR you still have room for expansion.

    Best of luck.


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    #112
    just do it
    Registered Users Posts: 5,422 ✭✭✭just do it


    Now a farming question. Are you paddock grazing and grass measuring? For dumbos like me that means pre-grazing height of 10cm and residual of 4cm. A few rotations of this and I bet your solids will improve


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    #113
    Miname
    Closed Accounts Posts: 1,984 ✭✭✭Miname


    lakill Farm wrote: »
    I have followed this thread since yesterday and only giving my opinion, a mix of professional opinion based on current experiences and my limited farming experience.

    * 5 year farm plan if you had no financial constraints , listed in order of preference ( realistic items like more stock, or reseeding)
    * cost benefit of each of the items in the plan to the enterprise. ie roadways or reseeding our housing etc
    * sit down and complete a business plan with a professional
    * go and refinance your remaining 3 year loan and the farm development into a 10 year loan . put a cap of 80-100k on the loan. it will be paid when your 50 and you will have 10 years of benefit from the investment now
    * 80/100k loan over 10 years will be the single farm payment worst case and no other payments each month. Your cashflow will improve
    * the investment can be offset against the tax. selling 7 cows (€7,000) killed your potential earning so set up a monthly direct debit.

    other ways of financing
    * milk cows on relief maybe to fit around your own milking. Boost your income
    * rent a few acres to the veg lads? and as part of the plan they reseed with grass seed?
    * keep bull calves till 10 months old and sell to boost your reduced winter income
    I done a fair share of what lakill has said this year regarding the plans, my Teagasc advisor said I was over ambitious with them but it's surprising when it's written down and planned out that it actually falls into place fairly quickly. I've far surpassed what I'd expected to do and I genuinely don't know how I even managed to finance a lot of it. I've skipped into some stuff I'd planned for year five and over and back a bit but it seems to be working. It may also sound bad but I actually got a great sense of fulfilment and enjoyment out of it. I had the discussion group out for a meeting and it's great to have all their views whether that be good or bad or even the odd sneering ones that give you the kick to say "well I'll show that f**ker".


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    #114
    visatorro
    Registered Users Posts: 3,111 ✭✭✭visatorro


    most thanked opening post in farming and forestry?


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    #115
    Aska
    Registered Users Posts: 373 ✭✭Aska


    just do it wrote: »
    Now a farming question. Are you paddock grazing and grass measuring? For dumbos like me that means pre-grazing height of 10cm and residual of 4cm. A few rotations of this and I bet your solids will improve


    Yes I am paddock grazing, however due to the poor state of things I wouldn't get close to a 21 day rotation, a little better at this moment in time as I have 34 acres back in the scheme since silage cutting, but some paddocks will be abused and they will be back on them way sooner than the 21 days. Also not all fields are paddocked off.

    As for grass measuring, if there is a hint of green on the ground the wire opens, Ha. No never measured, find it useless for the rotation that's in place at present.


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    #116
    Sam Kade
    Registered Users Posts: 12,313 ✭✭✭✭Sam Kade


    Panch18 wrote: »
    Aska - first things first - I have a neighbour with almost identical number of acres, cows etc. and he has paid 25k per annum in tax for the last few years - so the income is there to be made from your set up - so that should be your number 1 goal and gives you something to focus on

    There are 2 separate but related issues here from what I can see, firstly there is a financial mess and secondly the farm could do with updating/improving. Be under no illusions that the financial side is by far your biggest problem, things like roadways etc. are only a side issue and will sort themselves out once the finances are sorted

    So the first thing that you should do list all of your loans, how long is left on repayments of your loans. all of your amounts outstanding to creditors and how much your monthly repayments are. I would include your personal loans in this as well - because I have a feeling that they are draining you as much as anything

    List them all and we can start from there

    also you don't need a bloody counsellor - you need the best financial advice possible - because money is the cause of all of your problems and worries - sort that out and you won't give a damn about the father and his smart ass comments
    Even with record milk prices over the last few years if he's paying 25k in tax with that size operation he might want to get a better accountant.


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    #117
    kevthegaff
    Registered Users Posts: 6,887 ✭✭✭kevthegaff


    Aska wrote: »
    Yes I am paddock grazing, however due to the poor state of things I wouldn't get close to a 21 day rotation, a little better at this moment in time as I have 34 acres back in the scheme since silage cutting, but some paddocks will be abused and they will be back on them way sooner than the 21 days. Also not all fields are paddocked off.

    As for grass measuring, if there is a hint of green on the ground the wire opens, Ha. No never measured, find it useless for the rotation that's in place at present.
    Ur cows are still milking 20 litres? U have to look at the potential if paddocks were in place
    , 21 day rotation, reseeding. Theres lots more in your cows solids and growth potential


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    #118
    just do it
    Registered Users Posts: 5,422 ✭✭✭just do it


    Aska. It strikes me that your very close to having things right. Would you make enquiries as to a good teagasc or independent advisor in your area and get them to come in and do a full nuts and bolts assessment of your place with a view to drawing up a plan? They will offer a much more structured approach to what you can get on here.


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    #119
    Panch18
    Closed Accounts Posts: 2,471 ✭✭✭Panch18


    Sam Kade wrote: »
    Even with record milk prices over the last few years if he's paying 25k in tax with that size operation he might want to get a better accountant.

    Well not really no

    He has fairly high yielding cows running at low costs on a place that has no borrowings, he's been at the game for 35 years at a high level

    you'd expect him to be making fair profits and paying tax correspondingly - because if he wasn't making money at it then nobody would be


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    #120
    Farmer Pudsey
    Registered Users Posts: 6,326 ✭✭✭Farmer Pudsey


    Sam Kade wrote: »
    Even with record milk prices over the last few years if he's paying 25k in tax with that size operation he might want to get a better accountant.

    Your accountant is only as good as yourself.


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    #121
    frazzledhome
    Closed Accounts Posts: 6,278 ✭✭✭frazzledhome


    Farmer Pudsey wrote: »
    Your accountant is only as good as yourself.

    That is so so true.

    You don't need to know the tax codes but need to be informed enough to ask questions.

    No point panicking when ROS form arrives and then blaming your accountant. Tax planning is a constant medium term decision process.

    Your accountant needs to know what your plans and goals are re your business. If they don't there can't be a plan.

    How many have their 2014 accounts finalised and how long ago?


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