French frogs

[WVduckchick]

We bought a house built in 1822 and expanded in 1840 and 1913 with original windows, siding, and foundation. Plumbing and electrical were installed when the house was 100 years old, and were 70 years old at that time. We bought it with a beautiful rolling acre with mature trees, and well under market. We doubled the cost of the house in 20 years...and love it.

Wish we had been able to snatch what was left of the 83 acres that used to be the farm.

So have you decided not to move?

 

[scflock]

Is anyone here classified as an actual "farm"?
Mrs. Flock and I are talking about going full bore and naming it as a small business. Not just for the tax break, but actually running a small scale farm. I would never be able to make a full time job of it, but we both have come to really love raising chickens, and our sales last year were enough to qualify. I think the AMs are going to take me to another level, and I hope to add a breeder quality flock of BCM by spring. If I start growing a business now, I foresee it being a wonderful retirement job

 

[Tumbling K]

Is anyone here classified as an actual "farm"?
Mrs. Flock and I are talking about going full bore and naming it as a small business. Not just for the tax break, but actually running a small scale farm. I would never be able to make a full time job of it, but we both have come to really love raising chickens, and our sales last year were enough to qualify. I think the AMs are going to take me to another level, and I hope to add a breeder quality flock of BCM by spring. If I start growing a business now, I foresee it being a wonderful retirement job

I'm not.......

but I've heard there is allot of paperwork, and record keeping. for both tax write off and business wise.

it might be better to wait until you retire.......or hire a cpa that is familiar with hobby farm taxes.

 

[scflock]

I'm not.......

but I've heard there is allot of paperwork, and record keeping.  for both tax write off and business wise.

it might be better to wait until you retire.......or hire a cpa that is familiar with hobby farm taxes.

Paperwork is what I do for a living, and my CPA owns a farm
ETA: I sent him an email last night to see what he thinks

 

[Tumbling K]

then go for it!!

I'd love to be able to jump off into mine full time. and actually be able to make enough money that the bank wouldn't come take back their truck, or their expedition, or their house, or their land.....

 

[scflock]

then go for it!!

I'd love to be able to jump off into mine full time.  and actually be able to make enough money that the bank wouldn't come take back their truck, or their expedition, or their house, or their land.....

Oh, that's me. Unless I could sell 300 chicks/week, that ain't happening
It's just to be something on the side that is a little more than a hobby. He just emailed back and said he thinks it's a great idea, and to call him when I get a chance

 

[Tumbling K]

good deal........

 

[WVduckchick]

Oh, that's me. Unless I could sell 300 chicks/week, that ain't happening

It's just to be something on the side that is a little more than a hobby. He just emailed back and said he thinks it's a great idea, and to call him when I get a chance

He sounds like a great connection to have! I would be interested in any info you care to share, after you talk to him.

(we've talked about for our camp property)

 

[WalnutHill]

Is anyone here classified as an actual "farm"?
Mrs. Flock and I are talking about going full bore and naming it as a small business. Not just for the tax break, but actually running a small scale farm. I would never be able to make a full time job of it, but we both have come to really love raising chickens, and our sales last year were enough to qualify. I think the AMs are going to take me to another level, and I hope to add a breeder quality flock of BCM by spring. If I start growing a business now, I foresee it being a wonderful retirement job

We are an official tax paying farm and have been so since 2003. There is no minimum requirement for sales to be a "farm" at the federal level, but you do need to show a profit for more years than not in order not to fall back to a hobby.

Benefits are being able to expense and depreciate the equipment needed to operate your farm, advertising costs, and the like. Our gross revenue is between $6000 and $15000/yr.

 

[rossfam06]

I hate being sick. I got a stupid stomach virus from my youngest....not sure where she got it but she was sick all day tuesday. Now my oldest, hubs and I have it. Lol!!!