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market-farming - Re: Farming Income Tax Preparation

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  • From: "Shelley Pasco" <whistle AT halcyon.com>
  • To: market farming <market-farming AT franklin.oit.unc.edu>
  • Subject: Re: Farming Income Tax Preparation
  • Date: Mon, 31 Jan 2000 08:36:17 -0800


I've been doing the farm taxers myself with MacinTax (that's TurboTax on a
PC.) I do all my bookkeeping with Quicken, so all the records are naturally
formatted to flow right into the tax program. I like it because it gives me
help in figuring out depreciation, since we keep adding greenhouses and
equipment every year, and it gives little hints along the way that I would
otherwise miss.
Of course, it would be tougher if I didn't have things fairly well-organized
in Quicken. But the way I see it, I've got to have all my records in
excellent order to give to a CPA so that they can run it through a computer
for $300+. If I've got everything ready, why not run it through my own
computer at $75 for the software.
Shelley Pasco
Whistling Train Farm
Kent, WA

----------
>From: Adriana Gutierrez & Dennis LaGatta <gutierrez-lagatta AT home.com>
>To: "market farming" <market-farming AT franklin.oit.unc.edu>
>Subject: Farming Income Tax Preparation
>Date: Mon, Jan 31, 2000, 7:04 AM
>

> 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?
>
> I normally do our family income taxes myself using Turbo Tax with no
> difficulties. However if the farming rules are very complex or
> convoluted then it may be advisable to use a professional, at least for
> the first year to be sure the critical decisions are made correctly
> up-front. What's the consensus of the group?
>
> Adriana Gutierrez
> Green Cuisine
> Sarasota, Florida
>
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