My tax man won't let me deduct the cost of care and purchase of dogs and horses even though I use them in my cattle operation. I was wondering if any of you we're treated differently? It only seems fair to me that if I can't deduct the cost of feed and upkeep that I shouldn't have to report income from them.
Question About Taxes
- Thread starter cedardell
- Start date
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floyd
Well-known member
Get a new accountant.
I wish getting a new accountant would fix the property taxes around here- - - - when they wanted a new high school they anounced they would increase the taxes about 10%
Mine went fron $2,300 every 6 months ( on 200 acres ) to $5,200 every 6 months. Not the 10% I was expecting.
I have to clear $200.00 per week above all other taxes just to pay my property taxes.
Many people have lost their property as the taxes went so high they are higher than the mortage payments.
Starting next year we are getting reform - - - Personal homes will be capped at 1% rental property capped at 1.5% and commercial ( including farms and ranches ) capped at 3% - - - -still way to high but a little better
Mine went fron $2,300 every 6 months ( on 200 acres ) to $5,200 every 6 months. Not the 10% I was expecting.
I have to clear $200.00 per week above all other taxes just to pay my property taxes.
Many people have lost their property as the taxes went so high they are higher than the mortage payments.
Starting next year we are getting reform - - - Personal homes will be capped at 1% rental property capped at 1.5% and commercial ( including farms and ranches ) capped at 3% - - - -still way to high but a little better
Big Muddy rancher
Well-known member
Invite your accountant out to help you move cows and make him run around and do the dogs work. See if he still thinks they aren't working for you. :lol:
Shortgrass
Well-known member
I deduct mine.
burnt
Well-known member
Big Muddy rancher said:
I like your idea . . .
Mike
Well-known member
Just add the expenses in with all the rest. Problem solved.
per
Well-known member
We are like Mike on this. Dogs and Horses are under general livestock expenses. Invite you accountant, banker, lawyer and any other professional that you deal with on a round up or drive. Do what you can to make it a 2 day event preferable in inclement conditions. Use a bottomless tent in your cow camp and cook over an open fire. Sounds like your accountant needs some education.
Cal
Well-known member
Is your tax man really an accountant? Sounds like he might be one of those seasonal idiots that do returns to get some people EITC payments, and then charge dearly for a loan with first dibbs on their "refund" check as collatoral.
