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market-farming - Re: Farming Income Tax Preparation

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Subject: Market Farming

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  • From: Alex McGregor <waldenfarm AT sprintmail.com>
  • To: market farming <market-farming AT franklin.oit.unc.edu>
  • Subject: Re: Farming Income Tax Preparation
  • Date: Mon, 31 Jan 2000 15:36:25 -0500


Adriana,

I use Quicken for our accounting. We have 2 businesses- farm and massage. I
have both
accounts set up with categories on schedule F & C. That way, I can just copy
totals from
a "report" at the end of the year into the spaces on the forms. Makes it fast
and easy. I
also have a spreadsheet set up to record and compute our mileage for 2
vehicles.

I had an accountant do our returns years ago when they started getting
complicated. This
gives us an outline, but it pays to keep up with what's going on each year
with IRS
changes. Having an accountant friend sure helps!

I've never used TurboTax, mainly because I have the impression you have to
buy new
formats or updates each year. Is this true? And how do you guys like it?

Alex

Adriana Gutierrez & Dennis LaGatta wrote:

> I'm just completing my first full year of market farming and am trying
> to decide whether to do my income taxes myself or "farm them out" :>).
> How many of you do your own and how many use a tax professional?





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