Everyone wants to help move cows for the local ranchers near Horseshoe Bend, Idaho. A friend of ours tells storie about liking the help; but it is always like amateur hour out there on the horses. He doesn't want to tell people no when they ask to come help because he can always use more bodies; but sometimes he ends up helping them more than they help him. Not all horse or people are prepared to move cows. There are things you have to think about when moving cows and their calves.
I personally love helping brand calves and move cattle down the road with another friend once a year. My boyfriend likes to remind me that it is only pleasurable because it is just once a year. Here are my tips if you do go to help someone move their cows.
So, if you have the opportunity to help someone move their cows then take it an enjoy it. It is not every day that you get to participate in something like this!
I am always amazed at how many hobby farmers have no idea what a Schedule F is. It is a form that you attach to your 1040 to report Loss or Profit From Farming. I first learned about it when I was looking to buy some more land to farm and the bank asked if I had filed my Schedule F for the last "x" years. It also applies to ranching and is just another way to decrease your tax burden.
Who should file a Schedule F?
If you are the sole proprietor of your farming business then you should file the Schedule F. A farming business includes livestock, dairy, poultry, fish, fruit, ranches, ranges, nurseries, orchards, and basically anything agriculture related.
What can you expense on the Schedule F?
Deductions you may be able to claim include but are not limited to the expenses you pay for chemicals, feed, fertilizers, business vehicles, gasoline and other fuel, repairs and maintenance, seeds and plants, storage and warehousing, supplies, insurance, interest, taxes, utilities, veterinary fees, and rent or lease fees for vehicles, machinery, equipment, or land.
Record keeping is very important for filing your Schedule F; as is record keeping for any tax liability. Be sure to consult your tax professional and see if a Schedule F may apply to you.
IRS INFORMATION ON SCHEDULE F
Before I had kids I would roll my eyes whenever someone would say "it's different when you have your own," or "you don't know what you are missing;" in response to my "no marriage, no kids" mantra. When I was in high school I had big plans of being a pastor's wife, children's minister, and mother of eight. I started out of high school at a community college pursuing my associates degree in early childhood education. I worked as a nanny and preschool teacher before deciding that kids were not for me. I went focused back on school pursuing psychology and nutrition. I got serious with my boyfriend and we both agreed not to get married and not to have kids. We are still not married but when I turned 30 I had this insatiable urge to have kids. We now have two kids just 19 months apart in age and as we look to the future we want to make sure that we are leaving a legacy for them. At the heart of dudeWranch is leaving a legacy for our children's, children's, children and beyond. The W is representative of our family name.
Some of the methods/tools we are utilizing to set up for three generations include:
What are your suggestions? How are you planning for future generations?
Sara Jane Weidner
It is my dream to own a working cattle ranch and guest ranch to host people from all over the world. We will be self-sustainable and produce most, if not all, of the food used in our operation (for family, guests, and animals). This is my blog on cattle ranching history, guest ranch reviews, and everything country.