I just bought some land (15 acres) that I want to ranch cattle on. I want to purchase a tractor to use on it, some cattle, a storage container, etc. I am serious about being able to turn a profit eventually. I am interested in possibly incorporating the operation so I can take advantage of any tax relief. Is there a book or article about how to do this? What you can and cannot do? If I can depreciate or expense the tractor, that is a significant tax consequence.
thanx
thanx
