Re: Definition of a farmer

Posted by Gerald J. on November 03, 2006 at 20:08:01 from (67.0.103.39):

In Reply to: Definition of a farmer posted by John S-B on November 03, 2006 at 19:58:01:

Keep track of all your farming type expenses and incomes. Work through IRS schedule F (including depreciation) and if you make money occasionally the IRS says its a farm. If you always loose money, its a hobby and not deductible. You may have to shuffle expenses and sales from year to year to show a profit occasionally.

Join Farm Bureau, that's another mark. And the classified in their newpaper is a good place to sell hay without advertising expense, past the membership.

And when selling hay, take only cash. Bad checks take away too much profit.

Gerald J.

Replies:

• Re: Definition of a farmer B-maniac 17:50:23 11/04/06 (0)

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