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re: Starting a buisness (farming) and curious where to start
Posted on 2/17/17 at 7:34 pm to FelicianaTigerfan
Posted on 2/17/17 at 7:34 pm to FelicianaTigerfan
Will be livestock and orchards. Will not be a main source of income, and already have the financing in place.
Just curious about what's the best way to set it up as a registered business so I can write off the expenses
Just curious about what's the best way to set it up as a registered business so I can write off the expenses
2
Posted on 2/17/17 at 7:48 pm to FelicianaTigerfan
Google "hobby loss rules" before you spend a bunch of money expecting a large tax deductions. It doesn't matter how you structure it if it's not your primary income and you don't show a profit 3 out of 5 years.
Posted on 2/18/17 at 12:21 pm to FelicianaTigerfan
Cattle prices are down from a few years ago. If you're gonna buy some now is the time
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