Wendy Scheening
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  • Ballston Spa, NY
  • United States
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Wendy Scheening's Discussions

Maple Syrup Production Tax implications

Started this discussion. Last reply by Brett Davidson Feb 15, 2016. 3 Replies

In 2015 we converted our maple syrup hobby into a small business.  This is the first year we have to file our taxes related to the business and are not certain if we should consider it farming or…Continue

Tags: business, tax, maple

 

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Brett Davidson replied to Wendy Scheening's discussion Maple Syrup Production Tax implications
"Wendy, You may find it helpful to take a look at publication 225 Farmer's Tax Guide.  My guess is that your business fits the definition of farming.  Farmers get a lot of breaks that other business' do not get.  Here is a…"
Feb 15, 2016
Wendy Scheening replied to Wendy Scheening's discussion Maple Syrup Production Tax implications
"Thanks Steve.  I will definitely look into doing it that way.  I appreciate your response.  Wendy"
Feb 9, 2016
Stephen Childs replied to Wendy Scheening's discussion Maple Syrup Production Tax implications
"Wendy, Generally it is to your advantage to be considered a farm for tax purposes.  The main reason is that with a schedule F using the cash method you do not have to account for either supplies or product inventory.  Doing such inventory…"
Feb 9, 2016
Wendy Scheening posted a discussion

Maple Syrup Production Tax implications

In 2015 we converted our maple syrup hobby into a small business.  This is the first year we have to file our taxes related to the business and are not certain if we should consider it farming or retail sales (schedule F or schedule C) or what the standard business code is that we should use.  We own our own woodlot (38 acres) and do not purchase any other sap at this time.  We contacted the NYS sales tax division and they said we do not need a sales tax number because we do not collect sales…See More
Feb 6, 2016
Wendy Scheening is now a member of CornellForestConnect
Feb 6, 2016

Profile Information

How many acres of woodland do you own or annually manage?
38
Please describe, with two or three sentences, why you are interested in woodlot ecology and management. Your answer helps us ensure that only those people truly interested in woodlots are added as members.
We converted our maple sugaring hobby to a business in 2015. We are interested in making sure we do the best possible job of it.

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Forum

Chain saw use

Started by Tim Goodman in Woodlot Management. Last reply by Sarah Stackhouse Mar 17. 2 Replies

I am harvesting downed and partially downed trees on my property to chain saw mill into boards for hobby use.I have had many hours using a chain saw over several years and feel comfortable with it. However, I am self taught through reading and…Continue

Tags: saw, Chain

Resources

Started by Chaz U. Farly in Maple Syrup Production. Last reply by Kevin Mathers Mar 10. 1 Reply

My son has become interested in developing the Maple Syrup potential on my property. This spring he is just "playing around" a little.What, if any, resources does New York State have for first time maple enthusiasts?Thank YouContinue

Forests worldwide threatened by drought

Started by Carl DuPoldt in Woodlot Management Mar 4. 0 Replies

Forests worldwide threatened by droughthttps://m.phys.org/news/2017-02-forests-worldwide-threatened-drought.html-----------------------An analysis, published in…Continue

Ash Tree Update - 2016

Started by Carl DuPoldt in Forest Health Feb 24. 0 Replies

Ash Tree Update - 2016 https://science.nature.nps.gov/im/units/ncrn/assets/docs/RBs/NCRN_Ash_2016_RB.pdf Summary • The invasive emerald ash borer beetle…Continue

Wooden Buildings on the rise

Started by Carl DuPoldt in Agroforestry Feb 23. 0 Replies

Wooden 'plyscrapers' challenge concrete and steelhttp://www.reuters.com/article/us-construction-environment-idUSKBN1611U5Products of the forests - see…Continue

Storm Damage to Tunnel Tree

Started by Carl DuPoldt in Forest Health Feb 21. 0 Replies

The "Tunnel Tree" Is Felled by StormIconic Giant Sequoia May Have Been Weakened by Drought…Continue

Plant Communications

Started by Carl DuPoldt in Forest Health Feb 21. 0 Replies

Cornell Researchers Find Plants CommunicateChemical Messages Protect Themselves and Neighboring Plants from Pests…Continue

Urban Forest Webinars - US Forest Service

Started by Carl DuPoldt in Forest Health Feb 10. 0 Replies

Urban Forest Connections Webinar Series…Continue

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