Anonymous wrote:If you do not make money, you cannot farm. A farm is a business
Anonymous wrote:Anonymous wrote:Anonymous wrote:If you want your hobby farm to also "do good," you might consider Care Farming and make your hobby farm a non-profit. https://carefarmingnetwork.org
Some examples:
Red Wiggler Farm in MD
A Farm Less Ordinary in VA
Telmar in Baltimore
Thank you but that sounds exhausting, if I don’t want to pay taxes on it I’ll just make it a church.
-OP
Well, it wasn't supposed to be about the taxes .... but, never mind. Clearly not your thing.
Anonymous wrote:Can't all this stuff just be written off on taxes anyway?
Anonymous wrote:Anonymous wrote:If you want your hobby farm to also "do good," you might consider Care Farming and make your hobby farm a non-profit. https://carefarmingnetwork.org
Some examples:
Red Wiggler Farm in MD
A Farm Less Ordinary in VA
Telmar in Baltimore
Thank you but that sounds exhausting, if I don’t want to pay taxes on it I’ll just make it a church.
-OP
Anonymous wrote:If you want your hobby farm to also "do good," you might consider Care Farming and make your hobby farm a non-profit. https://carefarmingnetwork.org
Some examples:
Red Wiggler Farm in MD
A Farm Less Ordinary in VA
Telmar in Baltimore
Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:My parents have a hobby farm. It is managed by a farm manager and 4-6 men. The outlay for payroll and regular equipment maintenance is roughly $500-600,000 a year. This is on top of any other unusual outlays (another field truck, another tractor, replace the barn generator, reroof the stock barn). It is a complete money suck. On the other hand it provides a huge amount of pleasure to them and it is hard to argue with that. They do not live there fulltime so these expenses are all on top of their regular expenses.
This is so helpful, thank you!! -OP
I know nothing about this topic, but am curious about whether OP is actually willing to pay a half million or more per year for an 11 acre farm. I would watch that reality TV show.
Didn’t Marie Antoinette have this idea already, op?
Anonymous wrote:I highly highly recommend that you watch Clarkson’s Farm on Amazon Prime.
Anonymous wrote:I feel like nobody replying has any idea what a "hobby farm" is. It certainly doesn't help that OP hasn't provided any details. (Probably because they have no idea themselves)
I worked on a hobby farm many years ago, and I imagine it was probably very close to what the OP is actually imagining.
They didn't plant any crops, they kept like 2 horses, 4 cows, and a few chickens. It was a "farm" for tax and conversational purposes, but it was never intended to be a business and certainly never intended to turn a profit. It was a place where well off city folk could come out for the weekend and enjoy nature and pretend to be salt of the earth.
The costs were very minimal compared to the numbers you all are throwing out. They had a horse caretaker who they paid barely anything but in exchange let her live in the farmhouse and use their horses for riding lessons and keep all the money. Then they had me who came out like 3 times a week for 8 hours at $10 an hour, and that was it for staffing costs.
The cows were taken care of by their actual cattle farming neighbor who took most of the meat in exchange, the chickens were free range and mostly took care of themselves, but the horse girl helped as well. The cows and horses took care of most of the mowing.
Not counting the mortgage, I'd estimate they probably spent about $50K a year on payroll, animal care, maintenance (so many fences to repair!) tractor gas and maintenance, and everything else.
Anonymous wrote:Anonymous wrote:Anonymous wrote:My parents have a hobby farm. It is managed by a farm manager and 4-6 men. The outlay for payroll and regular equipment maintenance is roughly $500-600,000 a year. This is on top of any other unusual outlays (another field truck, another tractor, replace the barn generator, reroof the stock barn). It is a complete money suck. On the other hand it provides a huge amount of pleasure to them and it is hard to argue with that. They do not live there fulltime so these expenses are all on top of their regular expenses.
This is so helpful, thank you!! -OP
I know nothing about this topic, but am curious about whether OP is actually willing to pay a half million or more per year for an 11 acre farm. I would watch that reality TV show.
Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:My parents have a hobby farm. It is managed by a farm manager and 4-6 men. The outlay for payroll and regular equipment maintenance is roughly $500-600,000 a year. This is on top of any other unusual outlays (another field truck, another tractor, replace the barn generator, reroof the stock barn). It is a complete money suck. On the other hand it provides a huge amount of pleasure to them and it is hard to argue with that. They do not live there fulltime so these expenses are all on top of their regular expenses.
This is so helpful, thank you!! -OP
I know nothing about this topic, but am curious about whether OP is actually willing to pay a half million or more per year for an 11 acre farm. I would watch that reality TV show.
Didn’t Marie Antoinette have this idea already, op?
Anonymous wrote:Anonymous wrote:Anonymous wrote:My parents have a hobby farm. It is managed by a farm manager and 4-6 men. The outlay for payroll and regular equipment maintenance is roughly $500-600,000 a year. This is on top of any other unusual outlays (another field truck, another tractor, replace the barn generator, reroof the stock barn). It is a complete money suck. On the other hand it provides a huge amount of pleasure to them and it is hard to argue with that. They do not live there fulltime so these expenses are all on top of their regular expenses.
This is so helpful, thank you!! -OP
I know nothing about this topic, but am curious about whether OP is actually willing to pay a half million or more per year for an 11 acre farm. I would watch that reality TV show.