profit per gallon

[howden86]

Has anybody figured out roughly what you profit per qt or gallon after subtracting your expenses for that year only. not including depreciation or major improvements or a wage for yourself. Mine is about 20.00 per gallon. Is this in the ballpark?

[maplehound]

I showed about a $10 per gallon loss on my taxes this year. This does allow for depreciating of equipment over 7 years and all expensise that are allowed, even hotels from related trips, milage on my truck, and dues paid to related organiztions. It doesn't allow for anyone getting paid a wage.

[maple flats]

If you made $20 per gallon profit you should be giving us all classes. I wasn't aware profit and any form of farming went together.

[markcasper]

tHE PROFFESSIONAL educators suggest always pay yourself first. If I ever did that, I'd be in bankruptcy.

[Bucket Head]

I've always joked that if we ever figured out what we made per hour doing this, it would be about thirty one cents, and thats before income tax, LOL!

Seriously, we have never figured it out to the penny, or dollar. For us, its a hobby, that does pay for itself, and makes a small profit. We enjoy doing it, and if we were determined to make huge profits from it, it probably would start to be not so fun. Kind of like my day job...

I know they stress "pay yourself first". I'm no business major, no management expert, and I'm bad at math. So I don't know how you would figure that. I've also joked that I probably don't want to know the exact amount of hours we spend doing this!

We just don't figure our time into a hobby. We don't figure our time into my old cars either. We enjoy spending the time with both, and both are an investment.

If the day comes where we have a saphouse, and huge overhead, tap leases, equipment upkeep, depreciation, etc., we will have to look at it differently.

Steve

[Haynes Forest Products]

Im not ready to let the tax man get his hooks into what I do quite yet because then the land and what I do with it after I stop making syrup is a tax problem. I look at all the people I know who have boats and go fishing and catch buckets of fish and cant give it away. I atleast put a little cash in the pocket and cover my cost of my hobby. Is this cheating Uncle Sam...........I dont think so If i could deduct all expenses and then show a loss every year without The IRS getting jiggy with my operation then Im down with that.

[gator330]

I'm at a huge investment per gallon as of Right now. I spent a little more then I should have on tub and a evaporator this year plus all the little things that go with it. Bottles and jugs... Now I know it is just the beginning but at this point I've made three gallons of syrup. Bottled it up nice, all grade A med. amber. Took it to work and sold every bottle. Have a list for more. So at this point I am at $950.00 per gallon, Not counting time. But it is also the first time I have ever seen money come back to me on a hobbie. I hope the fresh produce does the same this year. But it will never add up to much of a profit game for me.

[KenWP]

Maple syrup seems like a good way to move a lot of cash from one pocket to another. Most farming seems like that the last few years. If a guy can get cash sales above his costs he can at least buy himself a hamburger at the end of the season.