Farm Income

Farm income: the income…of…farms. Yep. Pretty much the whole enchilada there.

Getting down to brass tacks: farm income refers to the profits earned and losses lost from running a farm. A “farm income statement” is a farm profit-loss statement, which can be used by farmers to get special tax credits. If you’ve done your own taxes and seen all the special lines for farmers, we’re sure a little voice inside your head said “wish I was a farmer right now…”

Farm income can look a little different than your average wage-worker’s income, since they can make value for themselves. For instance, there’s “gross cash income,” which is all the money that actually came in from selling agricultural goods, but there’s also “gross farm income” which is like gross cash income, but includes non-money income, like the value of the food farmers grow for themselves.

Farm to fork.