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Please read Ethics & Equity When is a Dairy Farm a Trade or Business.

Is the position by Randolph defensible? Review the 9 factors from the IRS website:

https://www.irs.gov/hobby-or-business-irs-offers-tips-to-decide (Links to an external site.)Links to an external site.

considered to help determine whether an operation should be considered a business or hobby in 2017. You may also want to do some additional outside internet research on the subject, include in your own words and cite your sources.

Instructions:
– Write a detailed memo to Randolph in Word with your research findings to properly advise him on this matter. Your memo will likely be several pages.

To receive full credit your memo should satisfy the following three bullet points:

– Address the majority of the 9 factors and indicate to Randolph whether each factor is supportive or not supportive of his farming operation being considered a business.

-Based on your analysis of these factors, make an overall conclusion to Randolph for 2017 and tips for 2018 since the tax law has significant changes.

– Memo should exceed 1000 words not including references

Grading:

Submissions that address all the items indicated above will receive full credit. Submissions that do not individually address the majority of the 9 factors and make a conclusion or do not exceed 1000 words will receive half credit.

Note: Make sure that you do not copy and paste information from other sources as this is your research and your work and I want to see your words.Your Turn It In similarity % should be less than 15% to receive a grade.



 

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