backhoeboogie
Well-known member
Capt Call":3nv22wvw said:SuperDave":3nv22wvw said:Just have a couple quick questions concerning taxes.
I've got a little bit of land that I can run about 20 head on comfortably. My question is, if I get started this year with say 5-10 head, is it still possible to get a tax break?
Is there an over under on head count that must be met before I start claiming all my expenses on my returns?
I dont have a thousand acres so I'm not really into this to try and turn a profit. I've read enough on here to realize that that is not what is to be expected.
While I'm on that subject though, how many do most of you run before you begin to start to turn a profit? I figure my best benefit financially from running cattle would be the taxes based on the amount of land I have to play with.
Wrong reason to raise cattle. Just remember there is no parole in the Federal pen.
Yep. Get each of those cows a SSN and claim them as dependants. :lol: :lol: :lol:
Seriously, if you only make $3,000 profit on a herd of cattle, you're going to pay taxes on that $3K if it is added to your normal income. Some people want to spend $30,000 on cattle to save $10K in income taxes.
The only break I see, if the savings in property taxes.