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To sheep or not to sheep
#7
Also helps to have a detailed business plan for your farm to keep things in "order" and help,keep the tax man at bay, should they request an audit on your losses. A good friend of mine had a small (10-12 head) cattle venture where he grew the hay on site, etc. with the heavy fluctuating price of beef he had quite a few losses and his business plan helped him track accurately to please the governing parties into giving him mercy when he came to the "no possible recovery" state. In some instances, I was told that your "Farm Business" is not recognized by the Tax Board unless you have a business plan, but neither myself, and my friend did not share of this, but his books told him exactly where his money was disappearing to make a wise, solid decision. Any thoughts to add from the professionals here?

Are you a human being, or a human doing?
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Messages In This Thread
To sheep or not to sheep - by turtletribe - 06-02-2014, 08:11 AM
RE: To sheep or not to sheep - by Carey - 06-02-2014, 08:20 AM
RE: To sheep or not to sheep - by turtletribe - 06-02-2014, 09:23 AM
RE: To sheep or not to sheep - by Carey - 06-02-2014, 09:36 AM
RE: To sheep or not to sheep - by terracore - 06-02-2014, 01:15 PM
RE: To sheep or not to sheep - by csgray - 06-02-2014, 02:40 PM
RE: To sheep or not to sheep - by Tink - 06-03-2014, 01:49 AM
RE: To sheep or not to sheep - by missydog1 - 06-03-2014, 06:46 AM
RE: To sheep or not to sheep - by csgray - 06-03-2014, 08:27 AM

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