wasabi
Platinum Member
Being knee deep in tax season, I thought it would be a good time to skate ahead of the puck a bit by posing the question of how to make our upcoming (soon) tractor and implements purchase legitimately tax deductible.
To my horror, my CPA quickly opined that our wasabi and trout farming endeavor would likely be interpreted as a "hobby". I said nothing, but knew right away the right thing to do would be to ask friends at TBN for more considered perspectives. Surely you farming pros can point us in the right direction. We're absolutely serious about making this a going concern (intend to make a profit), even if it is fun at times.
So, really, whatsupwitdis?
Caveat Note: any thoughts exchanged on this subject will be considered as discussions only, and will not be construed as tax advice!
To my horror, my CPA quickly opined that our wasabi and trout farming endeavor would likely be interpreted as a "hobby". I said nothing, but knew right away the right thing to do would be to ask friends at TBN for more considered perspectives. Surely you farming pros can point us in the right direction. We're absolutely serious about making this a going concern (intend to make a profit), even if it is fun at times.
So, really, whatsupwitdis?
Caveat Note: any thoughts exchanged on this subject will be considered as discussions only, and will not be construed as tax advice!