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by voakbasda
1634 days ago
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In the US, the tax shelter plan only works if you are profitable 3 out of any given sequence of 5 years. Otherwise, the IRS prohibits deductions from "hobby farms". Be sure you check with an accountant, unless you have been showing a clear profit from your farming activities. In my experience, a small farmer basically needs to cook their books to appear profitable. Profit is not realistic if you include all of the actual costs. |
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