It’s not a problem to be called a hobby farm, unless the IRS is calling you that.
Making more money still means paying more taxes, accountant says.
The simple answer you often hear is “whatever someone is willing to pay for it.”
You could look at a hundred farmland leases from around the country and probably not find two the same.
In 2020, due to financial stresses grain farmers are feeling from continued low market prices, adding livestock could help.
Not surprisingly, the Farm Credit System is seeing stress building on farm balance sheets.