----- >> Need Help: Tax Question for those who sell hatching eggs.....

chickenzoo

Emu Hugger
12 Years
Mar 10, 2008
9,364
212
341
a bumpy dirt road in Florida
My accounted wanted to know if we file a class C form when dealing with hatching eggs etc...? She doesn't deal much with chicken people, lol, and she said it would be cheaper for me to find out instead of paying her too..... So anybody......... HELP.. hehe Most people payed with paypal etc..........
 
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Goose and Fig

Grateful Geese
10 Years
Apr 19, 2009
8,603
62
308
Fall Creek Falls TN
I don't claim them as income- I consider it a wash. Isn't there a low-end limit- like if it's under 1000 dollars you don't have to claim it?
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Elite Silkies

Crowing
10 Years
Jun 17, 2009
5,410
54
251
Oklahoma
My Coop
My Coop
If want to claim the income then you will file as Self Employed with a schedule C. You of course claim your income and your deductions would consist of the following:

feed
cost of new birds
bedding
any material you purchased for your coops or repairs to your coop
Any vehicle that you used (mileage or gas) If you have no other vehicle for personal use I would document all miles driven for the business
Anything office wise that you purchased (pens, paper, invoices, ink cartridges, etc. )
Shipping receipts

Let me know if you need more help, I would be glad to help you out.
 

Funky Feathers

former Fattie
11 Years
Jan 15, 2009
6,151
64
311
Maryland
My Coop
My Coop
We sell a lot of birds & eggs, we fill out a schedule F for Farm income or loss. So far it has always been a big loss. Schedule C is not for Farm income/loss, it is for any other self-employed business (i.e. horse breeding, dog breeding, produce stand, cattery, flower shop, art business, crafts like jewelry, etc). We only used the schedule C when we had a dog breeding business.
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Elite Silkies

Crowing
10 Years
Jun 17, 2009
5,410
54
251
Oklahoma
My Coop
My Coop
I'll have to ask the Big Boss and see what he says. Then, I'll let you know. I keep forgetting most people have farm chickens, because all I have is City Chickens.
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But, I'll see what I can find out.
 

Elite Silkies

Crowing
10 Years
Jun 17, 2009
5,410
54
251
Oklahoma
My Coop
My Coop
Quote:
Anything under $8500 you are not required to file a tax return, however, that does not include any type of Self Employment. Self Employment has to filed regardless of the income amount.
 
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CrazyFowlFreak

Pine Hill Farm
11 Years
Apr 24, 2009
1,304
28
214
WV
You need to file a Schedule F, as Fattie ( I hate typing that! LOL ) said. You can print out copies of your yearly Paypal transactions to make things easier for you.
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