I just picked up a new Farm Corporation. I used to do a lot of farms but they have dwindled over the years. This corporation used to be in milking but sold off all the cows last year and now just have the heifers. The previous accountant told them the corporation could pay for the first $3000.00 of their groceries every year. I know years ago if the farmer had to live on the farm and be on call 24 hours a day for the cows, then we allowed the deduction for the groceries. I haven’t run into this for years and just wondered if anyone else does farm corporations and what they do.
Sincerely,
Debbie Wilson EA
Preferred Accounting
420 E Beloit St.
Darien, WI 53114
262-724-3635 Tel
262-724-5645 Fax
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