Vote for BP.Net for the 2013 Forum of the Year! Click here for more info.

» Site Navigation

» Home
 > FAQ

» Online Users: 694

1 members and 693 guests
Most users ever online was 47,180, 07-16-2025 at 05:30 PM.

» Today's Birthdays

None

» Stats

Members: 75,905
Threads: 249,102
Posts: 2,572,088
Top Poster: JLC (31,651)
Welcome to our newest member, Pattyhud

Breeder Business Question

Printable View

  • 12-27-2018, 08:55 PM
    Jbabycsx
    Breeder Business Question
    Have any of you as breeders set up an LLC? Just wondering how popular it is to do that even if you are still considered a hobby breeder.


    Sent from my iPhone using Tapatalk
  • 12-27-2018, 09:15 PM
    Godzilla78
    Not necessary as a hobby breeder, if you have a large business, it may be wise to distinguish your business as an LLC.
  • 12-27-2018, 09:52 PM
    Jbabycsx
    Re: Breeder Business Question
    It couldn’t be used to write off big investments like racks or other big ticket items?


    Sent from my iPhone using Tapatalk
  • 12-27-2018, 10:42 PM
    bcr229
    I have one for my FFL. I wouldn't bother with it for snake breeding; in fact, I am purposefully remaining a hobbyist so I don't have to worry about things like collecting and remitting sales taxes.

    For taxes, the same writeoffs apply for a sole proprietor as a single person LLC.
  • 12-28-2018, 08:16 AM
    Godzilla78
    Re: Breeder Business Question
    Quote:

    Originally Posted by Jbabycsx View Post
    It couldn’t be used to write off big investments like racks or other big ticket items?


    Sent from my iPhone using Tapatalk

    You can write off any expenses of business regardless of an LLC. Accounting is accounting, regardless of your business entity. Hobbyists usually operate as a sole proprietor.
Powered by vBadvanced CMPS v4.2.1