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Start-Up Costs: Correct Reporting By Farmers For Income Tax Purposes, Guido Van Der Hoeven
Start-Up Costs: Correct Reporting By Farmers For Income Tax Purposes, Guido Van Der Hoeven
Rural Tax Education
Income tax rules apply to expenses that are incurred and paid before a business exists. These expenses are referred to as “start-up expenditures” or “start-up costs.” The IRS provides guidance relative to the deductibility of these start-up costs for any individual or entity beginning a new business, such as a farm. These rules apply regardless of the nature of the business or the organizational structure ultimately used in operating the new business. A challenge for the beginning business owner is to identify the “start date” of the business. Expenses incurred prior to the start date are generally considered start-up expenses, …
2012 Federal Tax Forms Used By Beginning Farmers And Ranchers, Jc Hobbs
2012 Federal Tax Forms Used By Beginning Farmers And Ranchers, Jc Hobbs
Rural Tax Education
This article provides a list of business and personal tax forms and schedules which farmers and ranchers may experience when filing their annual income tax return. This publication does NOT cover the rules that apply for each of these forms. For a more complete list of forms and publications visit the IRS Forms and Publications website at: http://www.irs.gov/formspubs/article/0,,id=232801,00.html for the most current forms and publications.