![]() ![]() The rules vary at the state level too, depending on where you live - Tennessee, Alabama, or Mississippi - and what you produce on your farm. Read the IRS rules to see what applies to your farm. Each category has its own rules, restrictions, and limits. ![]() There are a number of farm business deductions. Cost of operating a truck or car for your farmĪnd that’s just the beginning.Real estate and property taxes on farm business assets like equipment, animals, land, and buildings.Repairs and maintenance on your property.Compensation to your children or spouse if they work the farm.Labor hired to help out with farm tasks. ![]()
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