> What crop and acreage are you working with?Corn, soys, wheat, edible beans. Understandably, different types of farms will be different.
> Labor and management was year round with no off season.
In this northern climate there isn't much you can do in the winter under the blanket of snow, save animal husbandry. And even then I know quite a few farmers with animals who only keep animals through a portion of year exactly so that they can have time to themselves.
> don't understand excluding the capital input costs and claiming it is lucrative.
Funny things can happen, but as a rule your major capital is retained. Farmland, if anything, tends to increase in value. I don't find machinery depreciates much either (the new stuff becomes way more expensive instead). On the day you retire, you expect that you will get back everything you put in and then some. That is why most farmers are willing to work a second job to build up that wealth.
Input costs are, of course, already factored in to the income potential of the business.
It is a low margin business when you're trying to pay for land (mortgage or lease), but one that is covered, there is significant income potential (with all the caveats of farming being unpredictable). And yes, that income comes as a product of investing. That's what farming is all about.