How do farmers claim everything personal and business as an expense.

Question

I live next to farmers. Everything they do and own is a business expense. The business owns everything. Home, cars, utv, electric, propane, internet, new land, gas, desiel, and red desiel. They go on multiple caribbean vacations, rent out the banquet room and claim it as a business expense. Is this really what business are able to do?

In: Economics

Answer 1

It’s likely their entire house IS NOT a business expense. The square footage used for office, business storage, etc can be, but not likely the entire house.