Missouri Farm Tax Record: Part 1, Cash Paid-Cash Received
The following abstract describes a publication that is only available for purchase from this webpage or your local MU Extension center.
This record book is for Schedule F Receipts and Expenses, Schedule 4797, 1040 Non-Farm Income, 1040 Schedule A Deductions, Social Security Tax Record, costs of animals etc. bought for resale, and money borrowed and repaid.
Farmers generally pay more taxes than required simply because they fail to record some expense or deduction. Forgetting $10 of expense will cost you about $2. Establishing an organized system for record keeping will prevent these tax leaks.
This farm account book is designed for aid in income tax reporting on a cash basis only. It is a yearly record of cash received and paid.
Missouri farm accounting resources
- Record keeping system
- Cash paid
- Cash received
- Income tax reporting
- Cash basis only