lsuguru LSU Fan Lake Charles Member since Aug 2007 504 posts
Small farm tax write off (Posted on 11/27/12 at 9:42 am)
I just inherited about 30 acres of rural land and I'm trying to decide what to do with it. After talking with friends, one of them suggesting putting cows on it, as a tax write off. What are some benefits or write off's that can be associated with putting a few cows on the property. Any other suggestions for what to do with the land. TIA
guttata LSU Fan prairieville Member since Feb 2006 19789 posts
re: Small farm tax write off (Posted on 11/27/12 at 10:31 am to Cdawg)
We have 60 acres and decided to become pine tree farmers. We are currently clearing it and will be planting in Jan-Feb. I believe the advantage of doing timber is that you don't have to show a profit w/in 3 yrs. we are new to this, so we are kind of learning as we go.