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
I’m a farmer. We can write off our business expenses like every other business, but not our personal stuff. You just have some sour grapes. I cannot write off my home, cars, electric, propane, new land. I DO write off a portion of the internet and all the gas and diesel that powers the farm equipment. If i had a UTV I used on the farm I could write that off. If I wanted to go on a seed company vacation I could write that off, but since I don’t want to waste my vacation time in meetings, I pay for my own vacation with post-tax money.
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