TeachMeFinance.com - explain Family farm
Family farm The term 'Family farm ' as it applies to the area of agriculture can be defined as ' As defined by USDA regulations, a farm that (1) produces agricultural commodities for sale in such quantities so as to be recognized in the community as a farm and not a rural residence; (2) produces enough income (including off-farm employment) to pay family and farm operating expenses, pay debts, and maintain the property; (3) is managed by the operator; (4) has a substantial amount of labor provided by the operator and the operatorís family; and (5) may use seasonal labor during peak periods and a reasonable amount of full-time hired labor'.
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