Most of us know someone who has been involved in martial arts even if it is just a relative or the kid of a neighbor or coworker. Those who put in enough time and effort are rewarded by advancing through a system of “belts”, ranked by different colors. Everyone...
Farm Business
Can You Deduct Farm Expenses Without Income? (What You Need To Know When The Crops Don’t Come In)
We all know that you pay taxes on the money you make during the year. We also know that one of the nice things about our current tax code is that business owners are able to deduct expenses from those taxes in order to reduce their overall tax bill. Farms are...
The Minumum Acreage For Farm Tax Purposes (And Other Ways To Know If You’re Running A Real Farm)
Do you know the minimum acreage for farm tax purposes? Or what it takes to really be considered a “farm” in the eyes of the government? If you’re not sure, this post is for you. Minimum Acreage For Farm Tax Purposes We recently did a post on “How to Qualify for Farm...
How Farm Bookkeeping Can Sow Seeds of Success In Your Ag Business
Farm bookkeeping isn’t exactly like bookkeeping for ordinary businesses. In the “non-ag” world, tracking transactions is fairly straightforward. But on the farm, things move at a different pace. The physical aspects of running a successful farm are tough enough....
Valuable Do’s and Don’ts of Agriculture Accounting That Can Save You Money
“Agriculture accounting” may not be words that most people have ever heard put together. But it is an area of financial management that has huge implications for the way we all live. The people who produce our nation’s food, cotton, wool, leather, and other...