Okay... I don't know how your farm is set up, but you should probably set it up as company/LLC. Assuming your total revenue is $100,000, the $80,000 should not be taxed since it's business expenses. The net $20,000 can be given as wages, giving the company $0 net income and putting you somewhere below the poverty line.
epiiplus1is0248 karma
Okay... I don't know how your farm is set up, but you should probably set it up as company/LLC. Assuming your total revenue is $100,000, the $80,000 should not be taxed since it's business expenses. The net $20,000 can be given as wages, giving the company $0 net income and putting you somewhere below the poverty line.
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