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Tax Return.

post #1 of 6
Thread Starter 

Hi everyone,

 

This past summer I have officially started to make my hobby into my life. I started a small farm! I am wondering if their are any government incentives/Tax returns/ Etc. that is availible to small farm owners.I live in NY if that helps.... Also is their like a min. profit or something?

 

Any help is appreciated...

-Caleb

 

Highpointfarm46.blogspot.com

 

EAT FRESH, LOCAL FOOD...

 

"Real heroes wear dog tags"

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-Caleb

 

Highpointfarm46.blogspot.com

 

EAT FRESH, LOCAL FOOD...

 

"Real heroes wear dog tags"

Reply
post #2 of 6

After April you can call the IRS and ask, it is their job to answer.

 

Before April they are very busy for things like that...

 Scientist and Tutor, expert at nothing, opinions on everything.

2012 Art Contest runs till Midnight EST Dec 31st 2012

http://www.backyardchickens.com/t/634433/2012-coloring-contest-rule-thread

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 Scientist and Tutor, expert at nothing, opinions on everything.

2012 Art Contest runs till Midnight EST Dec 31st 2012

http://www.backyardchickens.com/t/634433/2012-coloring-contest-rule-thread

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post #3 of 6

Get a copy of schedule F and look at it.  It is self-explanatory.  there are tax advantages because you can deduct a lot of stuff.

 

There are all sorts of government programs that are supposed to be good for farmers.  My experience is that they are designed in a way that they aren't beneficial at all.

 

They did a great deal here where Uncle Sam would pay half the cost of installing underground pipe for irrigation water.  Hot diggety.  I had the extension agent out, but Uncle Sam insisted that the pipe be bedded in trucked in sand.  Never mind that it was going through a field of 100% sand.

 

The trucked in sand made the cost so high that my half to have Uncle Sam help me with the expense would cost me twice what it would cost to do it all by myself without trucking in unnecessary sand.

 

Every government program I've looked at was something similar.

Exhibition quality Blue Swedish Ducks and Gray Saddleback Pomeranian Geese,   Hatching eggs available in late winter and spring. NPIP

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Exhibition quality Blue Swedish Ducks and Gray Saddleback Pomeranian Geese,   Hatching eggs available in late winter and spring. NPIP

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post #4 of 6
Thread Starter 

could you supply me with a link for "Schedule F?"

-Caleb

 

Highpointfarm46.blogspot.com

 

EAT FRESH, LOCAL FOOD...

 

"Real heroes wear dog tags"

Reply

-Caleb

 

Highpointfarm46.blogspot.com

 

EAT FRESH, LOCAL FOOD...

 

"Real heroes wear dog tags"

Reply
post #5 of 6
Quote:
Originally Posted by highpointfarm View Post

could you supply me with a link for "Schedule F?"



http://www.irs.gov/pub/irs-pdf/f1040sf.pdf

Caretaker of 1 BA, 1 BR's, 2 Wellies, 1 Dominiques, 1 EEs & a Jack Russel Mix (affectionately called the B**ch dog from HELL).  RIP Hootchie & Slick, my best friends.

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Caretaker of 1 BA, 1 BR's, 2 Wellies, 1 Dominiques, 1 EEs & a Jack Russel Mix (affectionately called the B**ch dog from HELL).  RIP Hootchie & Slick, my best friends.

Reply
post #6 of 6
Thread Starter 

Thanks =]

-Caleb

 

Highpointfarm46.blogspot.com

 

EAT FRESH, LOCAL FOOD...

 

"Real heroes wear dog tags"

Reply

-Caleb

 

Highpointfarm46.blogspot.com

 

EAT FRESH, LOCAL FOOD...

 

"Real heroes wear dog tags"

Reply
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