#Good news! The IRS has extended the tax deadline to April 18th! As long as you submit your federal return by midnight on 4/18/2018, you won't be considered a late filer for your federal return. Direct debit tax payments that are submitted with your federal return (or on the IRS website) by 4/18 are also considered timely filed ×

Can I have a business with no business income?

Yes. If your deductible expenses from operating your farm are more than your farm income from the tax year, your farm business operated at a net loss.

That said, the amount of loss you can deduct from your farm income may be limited. We can help you figure out what counts and what doesn’t. You can also read here to learn more.

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