Tax Guide for Farmers – Nondeductible Expenses

The Internal Revenue Code contains laws that govern reporting of federal income tax. The Code includes a section of laws on farm business expenses.

This section of the Code not only specifies farming expenses that may be deducted and that must be capitalized, but also expenses that are nondeductible. The focus of this article is on nondeductible expenses for those with a farming business.

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Tax Guide for Farmers – Deductible Expenses, Part 11 – Items Purchased for Resale

The Internal Revenue Code provides the laws that govern the reporting of federal income tax. For those with a farming business, the code includes sections on farming-related income and expenses. One such section, which is the subject of this article, includes travel expenses related to farming businesses.

This article is the tenth in a series on deductible business expenses associated with a farming business. The previous articles on deductible expenses covered Prepaid Farm Supplies, Prepaid Livestock Feed, Hired Labor, Interest, Taxes, Insurance, Rent and Leasing, Business Use of Your Home, Truck and Car Expenses, Travel Expenses. Continue reading

Tax Guide for Farmers – Deductible Expenses, Part 10 – Travel Expenses

The Internal Revenue Code provides the laws that govern the reporting of federal income tax. For those with a farming business, the code includes sections on farming-related income and expenses. One such section, which is the subject of this article, includes travel expenses related to farming businesses.

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Tax Guide for Farmers – Deductible Expenses, Part 9

Portions of the Internal Revenue Code are dedicated specifically to income and expenses for those with a farming businesses. A portion of these sections addresses farming expenses related to trucks and cars. That is the subject of this article.

This article is the ninth in a series on deductible business expenses associated with a farming business. The previous articles on deductible expenses covered Prepaid Farm Supplies, Prepaid Livestock Feed, Hired Labor, Interest, Taxes, Insurance, Rent and Leasing, and Business Use of Your Home.

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Tax Guide for Farmers – Deductible Expenses, Part 8

There are sections of the Internal Revenue Code dedicated specifically to income and expenses of farming businesses. A portion of these sections addresses farming expenses related to business use of your home, which is the subject of this article.

This article is the seventh in a series on deductible business expenses associated with a farming business. The previous articles on deductible expenses covered Prepaid Farm Supplies, Prepaid Livestock Feed, Hired Labor, Interest, Taxes, Insurance, and Rent and Leasing.

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Tax Guide for Farmers – Deductible Expenses, Part 5 – Taxes

If you own a farm or work for a farming business, you need to be aware of sections of the Internal Revenue Code related to farming income and expenses. A portion of the code speaks to the treatment of taxes.

This article is the fifth in a series on deductible business expenses associated with farming. The previous articles on deductible expenses covered Prepaid Farm Supplies, Prepaid Livestock Feed, Hired Labor, and Interest.

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Tax Guide for Farmers – Deductible Expenses – Interest

If you own a farm or work for a farming business, there are specific requirements in the Internal Revenue Code that spell out how you must report farming income and expenses. Those expenses include interest.

This article is the fourth in a series on the deductible business expenses associated with farming. The previous articles on deductible expenses covered Prepaid Farm Supplies, Prepaid Livestock Feed, and Hired Labor.

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