Turning a profit off of your eggs?

[aart]

you are allowed to deduct your expenses against your revenue even if it is a hobby

Not sure about that, I don't take tax advice from folks on the internet.
...and I seriously doubt it's enough to open that can of IRS worms.

 

[Melky]

Have to be a business to use it as a tax deduction. Not all expenses are tax deductible even from a business standpoint. Have to study tax law to understand what you can claim.

 

[TLHloveschicks]

Have to be a business to use it as a tax deduction. Not all expenses are tax deductible even from a business standpoint. Have to study tax law to understand what you can claim.

Actually I do study tax law I am a CPA in Florida not making any unknown claims just stating a fact that anyone could look up on the IRS website.

 

[TLHloveschicks]

Actually I do study tax law I am a CPA in Florida not making any unknown claims just stating a fact that anyone could look up on the IRS website.

Actually they just removed the hobby expenses deduction beginning in 2018 so I guess we won't be able to deduct our expenses this year anyway even on our Sch.A. Sorry I even mentioned didn't mean to talk about taxes anyway just want to learn more about chickens!

 

[aart]

Actually they just removed the hobby expenses deduction beginning in 2018

Was it federal or state?

 

[TLHloveschicks]

Yes aart it was for Federal..

 

[My1stChickens]

I bought 8 chicks, a thermometer, a feeder, a waterer and a bag of chick starter. I "made do" with bins for housing, then a water trough. So I was in for about $100, no big deal. But then bought a chicken tractor so they could move into the garage ($750). Then had to convert a stall in the barn, and enclose it in hardware cloth, with metal dug down into the ground, etc. Then they needed a yard, fenced in, and aviary netting on top. I think between materials and labor that coop and yard came close to $1500, maybe more. That first egg was pretty pricey. Over time there's just feed, occasionally replacing feeders or waterers. Some calcium and grit. Don't have to buy meds often, but in the last month I've needed Tylan, Denagard, and to restock tetracycline.

When I have extra eggs I give them away. There is NO chance I will ever have enough eggs to have regular customers. My first group of hens are 4 years old, and this winter I don't think they will lay at all. I have some replacement pullets just finishing quarantine now, but I'll never have enough eggs to sell to come close to breaking even, and I'm okay with that.

 

[TLHloveschicks]

Yes I agree it looks like it will be pretty difficult to make money unless you have a pile of chickens...and especially when you can go to the Dollar General and buy a dozen eggs for $1.00 like my husband did a couple of days agoAnd then I know I would want to give some of them away and that would not be good for business...

 

[Butterscotchbitesfinger]

Anyone selling your eggs and have a small business going that's making a profit?

I do! Just a small business but I have loads of customers

 

[TLHloveschicks]

Oh wow sweet!! How many chickens do you have if you don't mind my asking?