How to start up business/farm

Discussion in 'Managing Your Flock' started by Chiefs Mess, Sep 8, 2010.

  1. Chiefs Mess

    Chiefs Mess Out Of The Brooder

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    Feb 1, 2007
    First I don't know if this post is in the right Subject, please move me to the right one if I am in the wrong place.

    Second, I know I know you cannot make money on selling chicken eggs and/or chicks or get rich from it. So please don't write to tell me that. I had chickens before and just sold eggs when I had abuntant and help ease the feed bill. Starting back up, learned to shoot a shotgun and can pick off the next dog who tries to make my girls their dinner [​IMG]

    Ok, here is my question(s) and intentions.

    We have 5 acres and want to do something with it. Was thinking of getting seirous (sp) on selling eggs and later down the road to raise a pure breed of chicken(s) to sell. Also sell produce and hubby wants to raise cashmere goats sometime later. (that I have to sleep on). We live in VA and aready zone ag. Hubby has been doing some searching on what the laws are to be considered a small farm/business. Or just be a business. Really the info was so vauge. I called State of VA to see if there is any phamplets or book or regs. One dept asked if I was selling to any resturants (I wish I was that big) if so then I would have to get inspected. Also claiming to be organic (nope) So otherwords don't worry about nothing. Called another dept. she really could not help me but will send some info. Called some other depts but line was busy or voice mail.
    We are just thinking is there a way to right off a tractor or a atv (artic cat) for all this? Chicken coop written off in taxes also? Hope I am explaining myself. Hard writing it down. Just want to do a hobby into a business but knowing will not get rich! Hey is this how Murray McMurray and others got started? Hate to buy things and find out it can be written off if we are considered a farm. Which we do not know if we can.

    So if anyone out there got started where did you search first or who did you call. Oh yeah I do have a rider on my home insurance from when I did sell eggs before. Just in case someone fell in my yard or what ever. I did tell my insurance company I was selling eggs and this is what he suggested. We have Farm Bureau Ins. My next step is to see if they can help with our questions.

    thanks a bunch!!!!!!!!
     
  2. ChickenToes

    ChickenToes Chillin' With My Peeps

    May 14, 2008
    NE Wisconsin
    This may or may not be at all helpful. In Wisconsin, you have to have 40 acres to be considered a farm. Anything smaller than that is just a hobby. You can turn your hobby into a business and as long as you show profit 3 out of 5 years you can continue to write things off. And someone please correct me if I am mistaken!
     
  3. WhetzelMomma

    WhetzelMomma Chillin' With My Peeps

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    Sep 8, 2009
    Canyonville
  4. BigPeep

    BigPeep Chillin' With My Peeps

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    May 27, 2009
    I started up a business on five acres about ten years ago. I got incorporated right away. That's not really necessary but it helps when you want to claim a tax deduction. Due to "losses" on farm business, I have not had to pay many taxes on my real business, which I run out of the house on the internet doing consulting. Any improvements you make on the property, for example, are deductible. You can keep this up for five years. After that you need to show a profit or at least show that you are making serious efforts to do so.

    I would consult with an accountant about the best way to do this.

    I have established a "heritage farm" where I have a number of heritage breeds of animals and sell eggs, heirloom vegetable starts, organic heirloom vegetables, and native plants. Next year we will be doing classes on how to grow your own food in your backyard and offering overnight stays and tours of other sustainable farms in the area. I now have animals keeping the weeds down so I don't have to mow and they each come with rear fertilizer attachments at no extra charge for when I want to plant the garden. I can also start selling the babies of the Fainting Goats pretty soon.
     

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