Hobby Farms
These days more and more folks are departing the cities and heading for the country. Their goals are to leave the urban stresses behind and to become more self-sustainable. They are choosing to embrace the country lifestyle. They are purchasing small farms. Then they add various livestock such as chickens for fresh eggs, cattle for beef, and alpacas for fleece. They turn their fields into luscious vegetable gardens. They may even have some berry bushes and fruit trees. Some folks are using renewable energy on their farms, too. They may also be using eco-friendly and organic principles in their operation. But a country lifestyle is not all idyllic. It is a lot of hard work. However, there is an immense joy to working hard in the outdoors on your own farm while providing for yourself and your family. Plus, your children can participate in this venture as well providing them with wholesome work ethics. You may even decide to sell some of your extra bounty from your farm at your local farmer’s market. I am sure that those city folks who used to be yoru neighbors would love your farm products. Now, you may be wondering if your farm is a hobby or a business. How do you decide? More importantly, how does the IRS decide? In general, the venture is a hobby if there is no intent to be profitable. But, if you want a farm business, your enterprise must be profitable in 3 of 5 years, or you must prove your profit motive . However, there is absolutely nothing wrong with hobby farms for your benefit and your satisfaction. You do not need to bother with records and documentation and other nuisances. You can just enjoy your farm instead! Return to Top of Hobby Farms Page
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