Farm Accounting - Part 3: Taxes

Hi everyone!
There has been a lot of interest in the business aspect of flower farming, so I thought I would share my insights into accounting. This is part 3 of a 5 part series where I will give an overview of different accounting topics to help you on your farming journey.
This video is all about taxes. I'll give you a general overview of federal taxes, state and local taxes, and licenses.
The next video in the series is all about cost accounting. If you haven't watched the other videos in the series, give them a watch!
Blog from other flower farmer: www.sierraflow...

[@user-id2oz6gj2q]

I know that this is American, but you raise great ideas to check out with our accountant. Thank you.

[@sarahlovesdonuts9601]

Hey Carrie! I love this series. It’s rare to find a flower farmer who also appreciates a deep dive into accounting. I missed my calling I think.🥴thanks again!!!!!🌸💗🌸💗🌸

[@DewBloomFlowerFarm]

Glad you enjoy it! Get ready for the cost accounting video - an EVEN deeper dive 😊

[@Kelli.Hicks.5]

How interesting that anything sold in soil requires a nursery license. It makes sense now that I think about it, but that's not something I would have considered.

[@DewBloomFlowerFarm]

I know, right? Agriculture is very regulated in my state, which I get since they want to prevent spread of disease and invasive species. But at the small scale the licenses/fees/taxes can really add up!