oneofthemguys
New Member
Basically they can't BUY it from you, but they can PAY YOU to grow it for them.
I'd imagine you're technically working as a contractor at that point and may need to file form 1099, to report that income. You can obviously write off all of your expenses like lighting and the nutrients, on your taxes, though.
If I were a full time grower, I would definitely keep my tax information squeeky clean, because you don't want to give the feds ANY reason to knock at your door.
Stuff to keep in mind. You could argue that it's a donation to a non-profit blah blah... but that's just putting a bigger bullseye on your head, in my opinion. Play by the rules and you won't get burned. You don't have to specify what your growing, either, you can say they're herbal botanicals, ferns, or something goofy. They don't care THAT much.
I'd imagine you're technically working as a contractor at that point and may need to file form 1099, to report that income. You can obviously write off all of your expenses like lighting and the nutrients, on your taxes, though.
If I were a full time grower, I would definitely keep my tax information squeeky clean, because you don't want to give the feds ANY reason to knock at your door.
Stuff to keep in mind. You could argue that it's a donation to a non-profit blah blah... but that's just putting a bigger bullseye on your head, in my opinion. Play by the rules and you won't get burned. You don't have to specify what your growing, either, you can say they're herbal botanicals, ferns, or something goofy. They don't care THAT much.