Posted by jordan watson on December 26, 2011 at 15:32:13 from (166.248.70.166):
My dad and I bought out a friends cow/calf operation and we are going to file farm this year. We have gone from 10 cows to 50. Can we claim these cows on our taxes? I was told by one tax person that we can and by another we can't. I don't want to go with the wrong tax person and either lose money or get audited and get in trouble. Thanks Jordan
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Today's Featured Article - Memories of a Farmall C - by Monty Bradley. When I was a child, my grandparents lived on a farm owned by a Mr. Walters. The crops raised were cotton and soybeans, with about forty head of mixed breed cattle. Mr. Walters owned two tractors then. A Farmall 300 on gasoline and a Farmall C, that had once belonged to his father-in-law, and had been converted from gasoline to LP Gas. Many times, as a small boy, I would cross the fence behind the house my grandparents lived in and walk down the turn row to where granddaddy would be cultivati
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