Farm tax deductions

Tax Tip 2013-41, March 26, 2013

Organizing farm receipts for taxes can be easy, when you have a system in place. These printables are what we use to easily organize our farm receipts for tax time! #taxprep #farmincome #farming #homesteading #workfromhome

Discover essential insights into managing small business expenses for tax purposes. Learn effective strategies to optimize deductions and maximize savings.

Industrialized farming produces tons of food. But the methods involved should make every Christian stop and consider just where our food comes from. Are we truly being good stewards of God’s creation? Joel Salatin, owner of Polyface Farms (www.polyfacefarms.com) and popular speaker, thinks Christians must take a good long look at this topic.

BY LEGIT LEDGERS, LLC If you run your own equine business, you do not have the time to research every possible tax deduction under the sun. All you can do is trust your tax professional to suggest potential ways to save every year. Well, if your accountant does not understand the equine industry, how can they know what […]

Farmers can offset certain costs against their income to minimize tax liability, either in the tax year the expense was incurred or as a depreciating asset. Generally, you can deduct expenses that are common in the farming business, as well as specific expenses that are appropriate for your farm.

How to Obtain Grant Money to Start a Farm. Starting a farm can be the beginning of a rewarding career in the agricultural industry. Unfortunately, the up-front costs required to start a farm can be somewhat steep. In addition to other costs, you need to p

Happy FRI-YAY. Unfortunately for everyone except accountants, it’s a rough time of year… TAX SEASON. dun dun dun. But seriously – if...

While many self-employed Canadians like to focus on tax deductions, it’s equally as important to know what you need to pay taxes on. Not understanding business farming tax obligations could end up…

When exactly can you apply tax write-offs? If you're still unsure and want to get the full advantage of this itemized deduction, read on and find out!