Tax Time: Is Your Farm Ready?
ð§ Get your FREE, â5 Things Your Website Canât Do Without!â Guide by signing up to our newsletter; Become a better farmer in just 5 minutes per week! https://homegrown-hosting.kit.com/fre... Tax season is hereâare you ready? If you run a small farm, homestead, or farm business, you know that taxes can be confusing. From tracking expenses to understanding deductions, thereâs a lot to figure out. In this video, Iâm sharing what Iâve learned over the years as a farmer handling my own taxes. Now, let me be clearâIâm not a CPA or tax professional. Iâm just a farmer whoâs had to navigate the tax system and figure things out along the way. This video isnât financial advice, but if youâve ever wondered about farm tax deductions, expense tracking, or ways to get organized, this should help. Whatâs Covered in This Video: Why farm taxes are different from regular small business taxes Common farm-related deductions you donât want to overlook Importance of tracking farm expenses effectively The importance of keeping records for tax season My personal lessons from handling farm taxes year after year If youâre running a homestead for profit or trying to grow your farm business, understanding taxes is a big part of staying profitable and sustainable. Whether youâre filing for the first time or just looking for better ways to organize your finances, this video will give you a starting point. Who Is This Video For? This video is perfect for: â Small farmers trying to understand their farm taxes â Homesteaders earning income and wondering about tax write-offs â Self-employed farm business owners looking for basic tax tips â Anyone running a direct-to-consumer farm business (selling beef, poultry, eggs, produce, etc.) If youâre a farmer looking for real-world insights into handling farm taxes, youâre in the right place! ðĄ Have a farm tax tip or something youâve learned? Share it in the comments! Letâs help each other navigate tax time. #FarmTaxes #SmallFarm #HomesteadBusiness #TaxSeason #FarmAccounting #FarmFinance #SelfEmployed #FarmBusiness #Homesteading #farmlife ðĻâðūCONNECT WITH US: Homegrown Hosting (Website, Store, & Email All-in-One): https://homegrownhosting.com/ Website: https://homegrownhosting.com/the-part... Newsletter:https://homegrown-hosting.kit.com/fre... Instagram:   / theparttime_farmer  My Farm: https://longbottomfarm.com ðLongbottom Farm Online Shop: https://longbottomfarm.com/affiliate-... ð These are items we've used and feel confident in recommending. We receive a small commission from the affiliate store but COSTS YOU NOTHING! (Costs you nothing and helps us grow and make more videos!). ðVIDEO REFERENCES: Newsletter: https://homegrown-hosting.kit.com/fre... Homegrown Hosting (All-in-one Websites): https://homegrownhosting.com/ Namecheap (website domains): https://namecheap.pxf.io/c/5679719/38... Kit (formerly ConvertKit): https://partners.kit.com/f9r364cwruic... Farm Grants:    âĒ Farm Grants EXPLAINED: Smart Move or Bad I...  âIMPORTANT DISCLOSURE: Jason here. We're big believers in transparency so I am disclosing that Iâve included certain products and links to those products on my YouTube channel. We sometimes earn affiliate commissions for some purchases that you may make. When you buy products with these links, you help support our channel and it COST YOU NOTHING! Thanks for supporting small family farms! This video is for entertainment purposes only. ðCREDITS: Movie Clips: https://yarn.co/ B-Roll / Animations: https://www.canva.com/ Herd Ventures: https://www.herdventures.org/ ðĩMusic: https://artlist.io/ Longbottom Farm: https://longbottomfarm.com/ Amazon and the Amazon logo are trademarks of Amazon.com, Inc. or its affiliates. 00:00 Farm Taxes - Disclaimer 00:37 Farm Business Entities 02:24 Farm Tax Deductions - Write Offs 05:10 Farm Pastures Flooded 07:03 Separating Farm Finances 07:55 Farm Taxes - Depreciation 09:05 W2 vs Self Employed Farmer 11:39 Farm Tax Exemptions 12:38 Farm Help - Contractors 13:49 Farm Deduction - Section 179 15:42 My Experience with Farm Taxes
