You can only have 'loss' years if you truely are running the farm as a business and trying to make a profit.
If you show a farm profit 3 of 5 years, no one bothers you.
It is common for a business to lose money the first 5 or so years until you get established, and the big capitol purchases get paid down. So you rarely get bothered at the beiginning.
But if you continue to show losses, they start to wonder if you are just sheltering your other income by investing it in these perpetual farm losses..... Then it is up to you you are trying to run the farm as a business & working to make a profit. Bad weather, expansion costs, etc can be shown to prevent you from making a profit. But, it is up to you to prove this is a for profit buisness venture. If you buy a $45,000 tractor for a 5 acre corn plot, think you are in trouble. :) :) There needs to be resaonable expectation of profit from the venture.
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Today's Featured Article - A Brief History of Tractors in Australia - by Bob Kavanagh. After Captain Cook's exploration of the east coast in 1770 the British Government decided to establish a penal colony in Australia. The first fleet arrived in 1788 and consisted mainly of convicts who were poorly equipped and new little of farming techniques. The colony remained far from self-supporting and it was not until the early 1800's that things started to improve. Free settlers started to arrive, they followed the explorers across the mountains and where land was suitable set up farms. T
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