This spreadsheet has gone by many, many names; Schedule F Tracker, Farm Expense Tracker, and Farm Spreadsheet. But I like to call it, the bane of my existence. Why? Because who wants to sit down and review taxes? Who wants to spend hours pouring over receipts and bank statements trying to make sure you got all the expenses and income? I don’t. BUT!!!!!!!!
But if you farm, you are going to want to get some of those write offs. So we sit, and we fill out forms and want to bang our heads against the wall because if you’re ANYTHING like me, you’ve waited until March 31st to start this year long process.
I’m not usually a procrastinator. In fact, quite the opposite. I am extremely proactive. But the idea of doing taxes just makes my skin crawl. I don’t know how accountants and other tax pro’s can handle it, but man I am SOOOOOO glad they do. Because without them, I would have to do it.
What Is the Schedule F Tracker?
The schedule F is the tax form for farms. This is the form they want filled out so that they can figure out how much you spent, and how much you made.
The Tracker keeps all of that information for you. If you don’t procrastinate and you fill it out every month, it’s not that hard or time consuming. But if you wait until last minute? It’s a colossal pain in the butt.
Below is a video on how to use the schedule F tracker.
Why Do You Need The Schedule F Tracker?
Oh, let me count the ways.
First, trying to fill out the schedule F without some sort of help is damn near impossible. If you don’t have an accountant, it’s even harder. But it’s pretty easy when you have a sheet that will not only organize your receipts but also provide year end totals. Which is how you fill out the schedule F in the first place!
Second, if you are better than me, you can keep track every week or month and that will keep this chore small instead of a massive headache at the end of the year. This handy dandy tracker will save you so much time!
Third, this tracker is extremely easy to use. There is a little up front work but once you have your totals filled in? You are done. This tracker will do everything else!
Don’t let tax time get you down
Tax time is a headache. This tracker really helps make it a little less painful.