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Ranching as a Hobby?
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<blockquote data-quote="norriscathy" data-source="post: 214638" data-attributes="member: 2961"><p>In the first place; NEVER admit you are a "hobby" farmer! In order to take tax deductions for your farm expenses you must have "a reasonable expectation of making a profit at some point in the future"! Calling your farm a "hobby" is like shooting yourself in the foot; no deductions allowed!</p><p></p><p></p><p>Norris</p></blockquote><p></p>
[QUOTE="norriscathy, post: 214638, member: 2961"] In the first place; NEVER admit you are a "hobby" farmer! In order to take tax deductions for your farm expenses you must have "a reasonable expectation of making a profit at some point in the future"! Calling your farm a "hobby" is like shooting yourself in the foot; no deductions allowed! Norris [/QUOTE]
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Ranching as a Hobby?
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