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Subject: Market Farming
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- From: "Dori Green" <dorigreen00 AT hotmail.com>
- To: market-farming AT franklin.oit.unc.edu
- Subject: Re: Tax Preparation
- Date: Tue, 01 Feb 2000 09:01:23 EST
What I want to do here is maybe a little bit different. For several years I reported the farm as a business, with the help of an (expensive) CPA. And I found out just how blooming difficult it is today to make a living as a farmer.
Now I'm developing the farm as a not-for-profit, to which I donate use of the land and my time until the members are ready to start paying me something for same. The group will be doing the record keeping, reporting, etc. -- I'll just have to report income.
I can take deductions for my mortgage interest, taxes, and other standard stuff. Memberships cover the expenses directly related to the operation of the community farm.
A simple Excel spreadsheet keeps all records easily sortable and we have a CPA who believes in what we're doing standing ready to help us file the paperwork for formal official 501(c)3 status (as a volunteer).
My father was a public accountant. I have had so much enough of taxes in my lifetime that....well, you get the idea.
Yeah, I'm probably missing a lot of loopholes by doing this. But all I need for the annual pain pilgrimage is a short form, W-2s, and mortgage statement. For me, it's worth it.
If members join the garden co-op in time to order seeds from Fedco, that's where we order our seeds. If they wait until May to join (as many still do, sigh) then we buy transplant flats from a local greenhouse company and we grow what they're offering.
Other than keeping the animals fed and the mortgage/utilities paid, I'm no longer sugar-mommying this or any other farm. If people want access to it and its products they're just going to have to chip in to cover the operation. If they don't, I can just enjoy it as a 20-acre residence.
Dori Green
Ash Grove Community Farm
Corning, NY
http://www.ic.org/agrove
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- Re: Tax Preparation, Dori Green, 02/01/2000
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