tax write offs

[danno]

Does anyone write off there deadout and losses

[specialkayme]

I don't know about anyone else, but I wouldn't know how to even claim them as a tax write off.

I figure it would be easier if you owned your own beekeep. business. You could claim it as a loss of income. Or if you 'invested' in bees and you lost some of it.

Other than that I can only immagine that it would fall under tax fraud.

[bassman1977]

Try this...

http://www.ehow.com/how_2183916_hobby-expenses-hobby-income.html

[danno]

I work a full time job and my wife and I own 2 business.  I'll talk to my accountant.

[KONASDAD]

I dont. I do write off purchases of new bees. I have been told they count as livestock if you use a scheudule F, but I wll be doing this for the first time. I used a scedule c last year.

[chemlight]

Will you be using the schedule F only because of your bees? How many hives do you have?

[Michael Bush]

You can deduct your expenses.  How would you deduct losses of hives other than deducting what you spent when you spent it?

[Brian D. Bray]

You can deduct your expenses.  How would you deduct losses of hives other than deducting what you spent when you spent it?

Market value, a hive of honey bees is worth more than the cost of the package and the equipment used to make up the hive.  I'd add 10%.

[danno]

Thanks everyone
I have only 8 hives now all doing well but  have 25 more coming this spring.  Along with splits and trapping I should be 40 - 50.  I am shutting the doors of one of our business of 17 years.  It involved ladders and after falling a couple of years ago I need to keep my feet on the ground.  I will continue to grow my bee numbers and use this for a supplimental retirement business