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Old 04-03-2012, 05:57 PM   #1
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Please help me understand :)

Ok so basically we have almost 2 acres (not a lot I know) but we want to get chickens & grow a huge garden this year. We have a large family. I'm interested in Homesteading. Can anyone tell me exactly what that means. We would like to have goats & possably sheep too at some point. Can we be considered a farm. We would like to get a tractor too but can we get it tax free? Tons of questions I know. Any help, points would be awesome. Not afraid to work here We had goats, horses, dogs, chickens, rabbits, ducks exc... when I was a girl all growing up. Lived off our 10 acres, bought 1/2 pig, had a huge garden, even sold our veggies to a local supermarket, so i'm not real new to the work involved. I'm all ears

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Old 04-03-2012, 06:00 PM   #2
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Re: Please help me understand :)

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Old 04-03-2012, 06:24 PM   #3
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Re: Please help me understand :)

I think, like any business, you have to have the proper papers/permits to be legally considered a farm. I married into a 6th generation farm so I don't know all the exacts though. To have tax breaks and get some things tax free (like from TSC, etc) and get deer permits and what have you, you have to do the above. Our farm's business is called "The -last name- Farm" and that's on all our legal/tax documents.

Hope that makes sense. Do you have a lawyer friend you could ask about the hoops you have to jump through?

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Old 04-03-2012, 09:27 PM   #4
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Re: Please help me understand :)

I kind of doubt that you will qualify for tax breaks with 2 acres but you can check on that it with an accountant. You will most likely fall under "hobby farming" and there really were not any breaks when we were classified as that.
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Old 04-04-2012, 03:22 AM   #5
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Re: Please help me understand :)

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I kind of doubt that you will qualify for tax breaks with 2 acres but you can check on that it with an accountant. You will most likely fall under "hobby farming" and there really were not any breaks when we were classified as that.
I am wondering if they got honey bees or something that could make them a profit if they could be considered a farm vs. a hobby farm with 2 acres... ?
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Old 04-04-2012, 03:23 AM   #6
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Re: Please help me understand :)

or sold eggs to local stores (you just have to get inspected by your state's dept.)... where I live you just have to prove you have refrigeration and can put a date on your egg cartons... that's something that might make enough of a profit... worth checking out!
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Old 04-04-2012, 04:20 AM   #7
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Re: Please help me understand :)

I would ask some locals. In a lot of cases the hoops would not be worth the savings to me. There are a lot of new food production laws that are a pain, so make sure you know what your area is enforcing.
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Old 04-08-2012, 03:31 PM   #8
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Re: Please help me understand :)

I know for us, very rural community, if you have animals with hooves you get a local land tax deduction. But I am sure every place is different. Call your local tax office an ask them the requirements to get money off your yearly property taxes.
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Old 04-10-2012, 10:29 AM   #9
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Wow thanks for the info!!
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