beekeeping and taxes

Discussion in 'Beekeeping 101' started by Yankee11, Jul 20, 2012.

  1. Yankee11

    Yankee11 New Member

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    I found a apiary store yesterday while traveling for business. I had to stop in and spend some money :grin:

    After an hour of shopping around I went to heck out. The lady told me to save my receits, she said
    beekeeping expenses were tax deductible even if it wasn't a business.

    I was just wondering if anyone knew if this was true or not.
     
  2. PerryBee

    PerryBee New Member

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    Up here, no taxes? :lol: :rolling: :rotfl: (Sorry, that's a Canadian thing!)
     

  3. G3farms

    G3farms New Member

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    Not in TN, you will pay taxes on beekeeping stuff even though I have a tax card. Was told it is not considered ag :shock:, I just save my receipts and write it off at the end of the year anyway. There is only certain things that is tax free (if you have a ag tax card) that will not be charged tax at the register when you check out.
     
  4. Yankee11

    Yankee11 New Member

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    Sorry,

    I didn't mean sales tax. I'm looking at income tax and losses. Did a little quick research and it appears it can be set
    up under farming. I'll look into it farther.

    Used to live in East Tn. Knoxville. Actually looking to get back out there. Either around Knoxville or Nashville. Want 10 to 15 acres with some water on it. It's a GREAT place to live. No income taxes or death taxes.
     
  5. Beeboy

    Beeboy New Member

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    Bees are considered live stock. Treat it just like a farm. If you had cows and you had expenses then they are deductible. The same goes for bees. As always talk to you tax accountant as I bug mine about little things every year.
     
  6. gunsmith

    gunsmith New Member

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    These laws vary, state-by-state. Check out your states tax laws before you try something which may not be legal.
     
  7. G3farms

    G3farms New Member

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    re-read your post and as far as TN goes, yes it is tax deductible since it is ag related.