How do you formally name your Farm/Ranch?

[Drycreek3189]

I’m not sure where I was recently (lost, if you want to know the truth) but I think I remember driving over Dry Creek. I remember it because it had water in it and I remember thinking, “Dry Creek isn’t a dry creek anymore.” Got tickled at myself.

Falls into the category: “Can amuse herself by herself.”

Actually, my creek had water in it too, on my place, but following it upstream, it didn’t. I crossed in on the county road just before I turned into my gate and it hardly ever had water in it, but about a quarter mile east, where my place started, it almost always was wet. That was county road 3189. Any idea where I got my nom de guerre ?

[CabezaBlanca]

You’re way over thinking things. Make a sign and hang it on your gate and call it done.

[Sasqy]

Humble Hill !
Place kind of named itself.

[Hogmauler]

My dad bought the place in the late 1940’s and went through the drought of the 50’s. The name and brand was O—O. He said it’s called Owe Borrow as in you owe and keep having to borrow more money. When I bought it after my mom and dad’s passing. I named it Broken O because I’m broke and old. I don’t understand people naming their ranches Spanish names unless they are of Spanish heritage. How about Honey Bee Ranch if it hasn’t already been taken?

How about Rancho Costalotta

[crxshooter]

Tickfarm Ranch. My papaw said the only thing we could grow there was ticks, but we have a fairly good crop of scorpions, mesquite, cactus and chiggers.

[60 Deluxe]

If you aren't going to do more than what you mentioned, don't officially name it, incorporate it, or make an LLC. Keep track of you sales and expenses and file a 1040 F with your tax return. You may or may not end up showing a profit, so why set yourself up to pay self employment taxes, make quarterly estimated tax payments, etc? A couple of things that you should do is purchase an umbrella policy for liability and make sure that you have a farm policy rather than the standard homeowners policy if you live on the place. You can hang a sign on the front gate calling the place anything that you want. That doesn't mean the name on the gate is the name on the tax return. We have referred to our place as the Last Peso Ranch for three decades now. Never once wrote that on a piece of paper for anything. Everything business wise is done using our real names and real tax identification numbers.

[mjhaverkamp]

If you aren't going to do more than what you mentioned, don't officially name it, incorporate it, or make an LLC. Keep track of you sales and expenses and file a 1040 F with your tax return. You may or may not end up showing a profit, so why set yourself up to pay self employment taxes, make quarterly estimated tax payments, etc? A couple of things that you should do is purchase an umbrella policy for liability and make sure that you have a farm policy rather than the standard homeowners policy if you live on the place. You can hang a sign on the front gate calling the place anything that you want. That doesn't mean the name on the gate is the name on the tax return. We have referred to our place as the Last Peso Ranch for three decades now. Never once wrote that on a piece of paper for anything. Everything business wise is done using our real names and real tax identification numbers.

We are calling our new place the Double H Ranch, from what you are saying it makes a lot of sense, we have three other places with names but we did not file anything for the names. We do not operate any of them as a farm or ranch, we do lease some of it out for farming and grazing . other than that it is a recreational property to us.

[BrangusVA]

If you're from the Metroplex/ Houston/ Austin you give it a Mexican name with a $10,000 entrance no matter if its 10 acres or 1,000.

[MikeyG]

If you aren't going to do more than what you mentioned, don't officially name it, incorporate it, or make an LLC. Keep track of you sales and expenses and file a 1040 F with your tax return. You may or may not end up showing a profit, so why set yourself up to pay self employment taxes, make quarterly estimated tax payments, etc? A couple of things that you should do is purchase an umbrella policy for liability and make sure that you have a farm policy rather than the standard homeowners policy if you live on the place. You can hang a sign on the front gate calling the place anything that you want. That doesn't mean the name on the gate is the name on the tax return. We have referred to our place as the Last Peso Ranch for three decades now. Never once wrote that on a piece of paper for anything. Everything business wise is done using our real names and real tax identification numbers.

Thank you - now you're speaking my language (I'm a CFP). I highly doubt I'll make a profit given the money I've put into it up til now. Looking for a write-off, but also to show records of activity for my Ag property tax valuation until I can convert to a Wildlife management property.

[Throwin Darts]

If you're from the Metroplex/ Houston/ Austin you give it a Mexican name with a $10,000 entrance no matter if its 10 acres or 1,000.

LOL. This is spot on

[Throwin Darts]

We are building out a small farm on our property in Salado/Bell County and we've come up with a clever name for the Farm. Also, I'm curious if I should set up an LLC or just do a DBA? We'll be selling honey from our hives, vegetables from our garden and eggs at the local farmers market (it will be my kid's job on Saturday mornings). Nothing major for revenue, but getting set up is not free and I'd like to keep my records straight for proof of our operation activities.
We're into year 3 of 5 for applying for our Ag Tax valuation.

Thanks for your insight!

I would set up a business for the honey, vegetables, eggs, etc and have that business "buy" those products from the ranch. I would be worried that some yahoo would get sick off something they bought from me and then sue the ranch. So have the entity doing business with consumers separate from the entity owning the real estate to protect it.

[ThisLadyHunts]

Actually, my creek had water in it too, on my place, but following it upstream, it didn’t. I crossed in on the county road just before I turned into my gate and it hardly ever had water in it, but about a quarter mile east, where my place started, it almost always was wet. That was county road 3189. Any idea where I got my nom de guerre ?

Probably the same place you got your nom de plume…

I love it when you talk dirty in French.

[mjhaverkamp]

If you're from the Metroplex/ Houston/ Austin you give it a Mexican name with a $10,000 entrance no matter if its 10 acres or 1,000.

Can you get an entrance built for 10 K ? Send references lol

[Drycreek3189]

Probably the same place you got your nom de plume…

I love it when you talk dirty in French.

[LlanoHunter10]

We have some acreage in Llano for a future retirement homestead. Right now we lease it for cattle Ag exemptions and had to file a name in the county for AG purposes. K&W Homestead after my sons' first names initials.