With the weather forecast calling for an atmospheric river event over the next couple of days. I decide it was as good, of a time as any to work on my taxes. I do my best throughout the year to stay on top of my farm’s bookkeeping but when tax season rolls around there is always still a bunch of paperwork to do. I go over my records making sure that I have itemized and included all my farm’s expenses. With farm taxes, the F form to be exact, you have expense categories like seed and plants purchased, fertilizers and lime, truck expenses, and even a general chemical category. I’ve often wonder how these tax categories got established.
Like many small business owners I have a wonderful CPA who prepares my taxes. I still have to get all my papers in order and fill out a detailed worksheet, but this way I can focus my energy on farming, knowing that I have a skilled tax expert looking over my numbers to make sure the business is doing right by the IRS.