Starting a "farm" (slowly)

[PCallahan]

We promised the kids that if we ever moved to a house with land, we would buy chickens. A few months into it, the chickens are doing well and the kids are really excited to, what they call, live on a farm and tell people they live on a farm.

The point to this post: my oldest asked me about naming our croft, so I just wanted to see if any of you have officially registered with your states Dept. of Revenue? If so, as what (e.g., sole proprietorships, LLC, etc.). If anything, I just want to protect the name the kids came up with first for our "family croft", then work towards actually producing vegetables to sell down the road with our ever-growing garden.

Thanks
Paul J. Callahan

 

[oldrooster]

In many states what you will be doing selling veggies and eggs I guess will more than likely bring you so little profit you could probbably get by with calling it a hobby because if you figure the cost of your seed, fertilizer, water, equipment (tiller, rakes, hoes, etc) even if you depreciate all that equipment over several years you will not likely come out with all that much profit esp. if you grow food for your family both for the table and store it for the winter. Check with a local tax preparer they can tell you or at least tell you where to look for the dollar amounts.