Farm Business & Financial Management
Farm Expense Categorization Guide
A guide to sorting farm expenses into consistent categories for your books and tax return. Helps owners record each cost the same way every time.
Download free PDF1 page, US Letter, prints clean in black and white
GuideFarm Business & Financial ManagementFree PDF
The steps on this page
- List your main enterprises
- Decide on expense categories
- Match categories to tax return lines
- Set rules for shared costs
- Treat repairs and improvements separately
- Record personal use separately
- Code each receipt when it arrives
- Review codes monthly
- Ask your preparer to confirm
How to use this guide
Follow the steps in order and write down any changes you make. Where your equipment or product has instructions, those come first.
Where to check the details
This sheet is a general template, so confirm specifics with your own manuals, labels and local rules. For current official guidance, start with IRS and eXtension.
For more in this area, see the Farm Money and Grants. Between chores, farm.FM has farm humor, including Farm Accidents Aren’t Fun, and agribusiness farm stories.