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B010 BusinessFarm Supplement BUSINESSFARM Form
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How to fill business farm supplement on idoc
FAQs
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What are the good ways to fill out 1120 form if my business is inactive?
While you might not have been “active” throughout the year, by filing a “no activity” return you may be throwing away potential deductions! Most businesses (even unprofitable ones) will have some form of expenses – think tax prep fees, taxes, filing fees, home office, phone, etc. Don’t miss out on your chance to preserve these valuable deductions. You can carry these forward to more profitable years by using the Net Operating Loss Carry-forward rules. But you must report them to take advantage of this break. If you honestly did not have any expenses or income during the tax year, simply file form 1120 by the due date (no later than 2 and one half months after the close of the business tax year – March 15 for calendar year businesses). Complete sections A-E on the front page of the return and make sure you sign the bottom – that’s it!
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What forms should I fill out to start a business?
From a legal business entity standpoint, one does not normally have to file any forms with the state the business is located in to be considered a sole proprietor (SP). However, this highly unadvisable since a SP provides no liability protection.The most popular, and most advisable business entities are a Limited Liability Company (LLC) and a Corporation. These entities are state created entities meaning that you must file the necessary paperwork in the state where you will have the business headquarters. The state’s secretary of state’s office will have all the necessary documents, forms, and rules needed to create the entity of your choice. You will also have to pay a filing fee.It is important that you further discuss the issue with experienced counsel as they will be able to help you decide which entity is best for you, and help you with the filing.
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How can I start the poultry farm business in Andhra Pradesh area? What are the steps to start, how could be profits and loss over poultry farm?
Poultry farming is multibillion dollar industry, wherein the demand is constantly growing day by day, the following factors are important in successful poultry farminglocation:climate plays a major role in successful venture. unless you are a big entrepreneur who is planning environmentally controlled houses, temperature control is crucial. Check if your location in andhra supports poultry farming.if climate is not more than 35C in the house, birds begin to die suddenly and all your investment will be gone. in those cases, we have to take precautions by using water sprinklers to reduce the temperature.landif you have your own land, it is perfect.Otherwise, Check out the lease rates in andhra. in many places, the lease rates are manageable for small scale farmer. if you want to go for lease, get it registered in your name, so that you can apply for bank loansfeedaccounts for 70% of costs in poultry. so, feed purchase at low costs is crucial for higher returns an average broiler consume 110 grams/ day.Corn and soya are main feeds used by industry. the alternatives rice, sunflower oil, linseed oil, but, these are not proved effective as a solo diet. therefore, corn and soya feeding is mandatory.if you have your land and labour, you can try to grow these crops, as it would be most cost effective.otherwise, check state broiler coordination committee website for costs of feed. A committee for Telangana and Andhra Pradesh Poultry IndustryMake wholesale purchase and mix your feed in farm with little guidance. you can ask a veterinary doctor for this. direct purchase of readymade feed is a costly affair.CapitalEffective utilisation of capital is crucialBanks are giving 75% loans for poultry ventures if detailed project report is convincing. One should take the help of veterianary doctor in preparing project reports.Marketdirect marketing by opening slaughter shops or selling to slaughter shops are two options available.for opening slaughter shops, you need to have additional land, labourselling birds to other parties is easy. but, rate varies from month, season. for example, in festival seasons, the demand is low, therefore rates will be low. In summer season, the rates are very high. therefore, one should plan accordingly.refer A committee for Telangana and Andhra Pradesh Poultry Industry for current rates and price fluctuations.Finally, profit or loss depend on the decisions you take. Enter into business by studying all the above parameters. take the help of veterinarian and plan accordingly.There are many examples of persons becoming millionaries in the business. HARD WORK, PEOPLE MANAGEMENT, BIT LUCK is necessary in this business.wish you all the best…
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Is it possible to create a business out of vertical farming? If so, how profitable is it?
Most businesses that pursue vertical farming, indoor farming, aquaponics, hydroponics, etc have gone under. There are many reasons for this.Electric lights are expensive and add to your monthly overhead.Your grow setup is expensive and if you get a loan to buy it, that adds to your overhead.Rent or the mortgage on your warehouse is expensive and adds to your overhead.Labor is expensive and adds to your overhead.Selling a lot of product consistently requires a good network of retail outlets, restaurants, etc. This might require a sales force which means more overhead.The produce must be consistently perfect all the time in order to maximize sales. There’s no room for a cold snap or bugs to take out a crop.Imagine the scenario where you start a new month $5,000-$10,000 in the hole due to all the overhead costs described above. Now you have to grow your product and pay for all the labor, lights, seeds, grow medium, electricity, packaging, more labor, transportation, and sales force to cover your $5,000-$10,000 overhead costs so you can break even for the month.All that said, some do make it. The key is controlling your overhead costs and having good, strong sales channels. I suggest you start small, design efficiently for labor and light, use as much natural light as possible. Build scalably so that you don’t overbuild but can expand based on demand.Good luck.
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What are the required forms to fill out when starting a business?
It depends on where you're based: not only do different countries have different paperwork, but so do different states, counties and even cities. There are some places where you can start a new business without filling out any paperwork (although you'll likely have to deal with tax forms and the like after you've been in business for a while.There are some common forms that you should check on whether you need for your area:Business licenseProfessional license — In addition to a license for operating a business, certain professions are licensed.DBA / Doing business as — If you're doing business under a name other than your own, such as a company name, you may need to file a DBA.Incorporation or organizational documents — Depending on how you organize your business, you may need to file paperwork to incorporate.Tax registration — You will usually need to register with your local state if you're collecting sales tax. You will also probably need to complete paperwork to get a taxpayer identification number or an equivalent for your business.Employee forms — If you have employees, there can be quite a bit of paperwork, including their tax paperwork and any appropriate registration.These really are just a starting point. One of the best things you can do is find a local accountant or other professional to advise you on what you need.
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How can one start a farming and greenhouse business in India when he is a novice to the farming business?
Greenhouse is an excellent example of modern agriculture with the help of greenhouse we can produce export quality & high quantity product so that we can get good profitgreenhouse galvanize pipe structure on which polythene film is placedgreenhousehas following advantagesThe yield may be 10-12 times higher than that of outdoor cultivation depending upon the type of greenhouse, type of crop, environmental control facilities.Reliability of crop increases under greenhouse cultivation.Ideally suited for vegetables and flower crops.Year round production of floricultural crops.Off-season production of vegetable and fruit crops.Disease-free and genetically superior transplants can be produced continuously.Efficient utilization of chemicals, pesticides to control pest and diseases.Water requirement of crops very limited and easy to controlyou can cultivate high commercial value crop like Gerbera, Dutch rose, carnation, lily & vegetable like color capsicum, tomato, cucumber, exotic vegetablesTo start polyhouse/ Greenhouse, there is required heavy expenditure on the building infrastructure, purchase of machinery and equipment, labor, and energy.It is essential for you must undergo a practically oriented trainingIn India there are various government & NGO organization provide, provide Greenhouse business training. However, HTC (NIPHT) is one of the good institutes provides greenhouse training.our Indian government provide subsidy you get detail subsidy information from NHM & NHB websiteTo recover this cost required 3–4 year . government also provide 50%–80 % subsidy for polyhouse ( as per government Norm)PROJECT COST FOR 2016 Sq/meter commercial greenhouse (Gerbera plant consider in greenhouse)Polyhouse Construction - 1,506,000Irrigation System - 188,000Bed Preparation - 220,000Plants - 420,000Total Investment - 2,334,000 ₹total flower produce per year - 540,000avg rate for gerbera flower -2.75Total Returns 1,485,000cost of cultivation( labour , ferilizer ,other ) - 858,800Net Return - 626,200if wanted more information regarding poyhouse farming read more Greenhouse Farming in India (beginner guide 2018)
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How do I get business people to import my farm produce?
Farm produce are one of the most controlled products the works over especially when it comes to crossing borders for various reasons.Countries will out tariffs and quotas when it comes to farm produce depending on the availablity of the the product in the importing country. This is done either to protect the local farmers from similar subsidised products from other country or mainly because of the likelihood of the imported product carrying some plant diseases or animal diseases. Such countries strict on that are Australia and New Zealand. So you will need to study the laws of your target market country.However, if you're going to export to countries that almost produce nothing and rely on imports like The Congo Democratic Republic or South Sudan, you basically just need to find someone who imports your kind of product in that country and agree terms and send over the produce to them.If you can tell me your target market, I can assist you further with precise information.
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How should I get ready to get into the dairy farm business?
The best way to get ready to start a dairy farm is to work in a dairy farm for couple of months. Reading books, watching YouTube videos, visiting dairy farms or attending formal training are good at an informational level but they do not expose you to day-to-day challenges. Bharathi Dairy Farm provides hands on training in their farm in Nellore district. It’s a two day session and the cost is Rs 5,000 with basic accommodation and food. Check the link for more details http://www.bharathidairyfarm.com..
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