Chickens and taxes

[furbabymum]

Do any of you claim your chickens on your taxes?? Just wondering. We are certainly doing it this year!

 

[dawg53]

Your chickens got social security numbers? Heck of a deduction!

 

[furbabymum]

LOL! No they don't have SSN's. We were just doing our research and talking to our accountant about it. So long as we expect to make taxable income off of them we can claim the expense of keeping them. So last year we got our poultry and it was all expense and no income. This year hopefully we'll get income. Should be a very nice deduction for 2012's chicken acquisition though.

 

[dawg53]

Let us know how it turns out!

 

[lahowardjr]

My chickens, coop and feed is tax deductible. Use a CPA. H&R Block may not agree. They seem to err on the safe side.

 

[furbabymum]

My chickens, coop and feed is tax deductible. Use a CPA. H&R Block may not agree. They seem to err on the safe side.

Oh we for sure have a CPA! Poor guy. He gets enough random questions from us to write a book!

What we are debating on is the dog. We bought a puppy to guard the chickens. Haven't asked our tax guy yet but I'm hoping that the dog and all his expenses will be deductible as well.

 

[lahowardjr]

Don't know about that one. A dog is not a "farm animal" per say. Your CPA may be scratching his head too!

 

[4 the Birds]

Do any of you claim your chickens on your taxes?? Just wondering. We are certainly doing it this year!

Hmmm... I suppose your feed could be a deduction if you are listing egg income. For most people they give eggs to friends with the barter system and keep the government out of their business.

 

[furbabymum]

Hmmm... I suppose your feed could be a deduction if you are listing egg income. For most people they give eggs to friends with the barter system and keep the government out of their business.

When you pay as much in taxes as we do you'll look for any deduction you can find. lol

 

[WalkingOnSunshine]

When you pay as much in taxes as we do you'll look for any deduction you can find. lol

We work as an LLC and pay business income tax on profits, but we get deductions for losses, too. The biggest thing our business status does for us is that we're exempt from Ohio sales tax on things that are directly involved in producing eggs, such as feed, equipment, materials to fix the hen house, etc.