Tax Time!

[Circle J Ranch]

Team Deer Forums,

This will be the first year claiming my deer farming expences. I was wondering besides the usuall itemized list of deductions is there anything special that deer farmers claim that would not be in a regular small business expence sheet? Is there any other tricks of the trade so to speak i should look into? What is the common way a deer farm aproaches taxes?

Any advise would be great. Thanks

[Midwest Deer Sales]

Matt check with your accountant. I think in most states if you sell a fawn or a deer before he is 1 yr old the percentage of capital gains tax is much higher than if you sold a bred doe or a deer over 1 yr of age. I think this is capital gains versus ordinary income. Check with you tax man.