View Full Version : taxes
hard maple
01-31-2007, 10:03 PM
can any one explain a little bit about writing off sugaring expenses, claiming profits etc. thanks, any input would be helpful.
mountainvan
02-01-2007, 06:08 AM
you need to get the f-form, for farm I guess. Keep all your receipts for everything remotely part of your operation. Best thing to do is get a certified accountant who has done farm taxes. That's what I do.
hard maple
02-01-2007, 08:38 AM
thanks van
mountainvan
02-01-2007, 05:21 PM
your welcome.
Sugarmaker
02-01-2007, 06:39 PM
I agree get a good accountant or a good tax person. I still use H&R Block but it is worth the $115. Keep the business mileage, all the receipts from expenses, and new capital expenses. Also record any improvements to your operation. You should be able to depreciate a lot of items that are maple related.
Chris
WESTVIRGINIAMAPLER
02-01-2007, 08:33 PM
I file as manufacturing as seems IRS doesn't like the "farm" word too much.
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