Posted by IaGary on January 03, 2009 at 06:26:00 from (207.177.17.200):
If a farm shows no income from the farm, are they still allowed to deduct tractors,machinery and other consumables for the farm from their income taxes?
Maybe each state is different. I don't know how this works??
I am defining a hobby farm as, where no income is generated from the farm.
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Today's Featured Article - Harvestin Hay: The Early Years (Part 2) - by Pat Browning. The summer of 1950 was the start of a new era in farming for our family. I was thirteen, and Kathy (my oldest sister) was seven. At this age, I believed tractor farming was the only way, hot stuff -- and given a chance I probably would have used the tractor, Dad's first, a 1936 Model "A" John Deere, to go bring in the cows! And I think Dad was ready for some automation too. And so it was that we acquired a good, used J. I. Case, wire tie hay baler. In addition to a person to drive th
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