Think it would work?

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rocket2222":1olgah5v said:
WichitaLineMan":1olgah5v said:
All that other is not business expense, it is personal expense. Try deducting groceries on you schedule F sometimes.

And in my example on my stocker cow deal, I get the mineral as part of the $15 or $18 per month.

$18 per head per month includes salt, mineral, care.


Actually a lot of what you call personal expense can be deducted (or a % of it) as a business expense if the farm set up properly as a business. But that's just splitting hairs. Whether its a personal or business expense, if farming is your only income, they have to pay for it all one way or another. If all the cows had to do was show a profit on what they cost to keep, I'd be farming full time tomorrow.

As far a groceries go, you need a better accountant, last one I talked to said "feed" was a deductable item. :)

You DID know that WLM is an IRS agent in his DAY job, didn't you? :tiphat:

George
 
Herefords.US":27wmww4k said:
You DID know that WLM is an IRS agent in his DAY job, didn't you? :tiphat:

George

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:lol: :lol:
 
After the growing season we had this summer I think I would roll that extra acreage if you could. I have some extra hay this year and considered(For an extremely short time) purchasing a few heifers to eat it untill spring green up now I am thinking NOT!!
 

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