11 ms·
> In the U.S., a high proportion of farms might be classed as hobby farms. In 2007, over 40% of farms reported less than $2500 in income and over 10% of farms h
by newzisforsukas 2y ago
> In the U.S., a high proportion of farms might be classed as hobby farms. In 2007, over 40% of farms reported less than $2500 in income and over 10% of farms had less than 10 acres (4.0 hectares) of land
Hmm, why?
- debacle 2y agoBecause there's huge benefits to having a Schedule F on your federal tax return.
- cryptonector 2y agoYou also can get exemptions on your property taxes in many states for the land under agriculture. You could end up: - living off the land - paying low taxes on your homestead (house + 1 acre) - paying almost no taxes on your ag land (all but 1 acre) - stretching your savings for many more years than you'd have any right to otherwise