Breeder Business Question

[Jbabycsx]

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.


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[Godzilla78]

Not necessary as a hobby breeder, if you have a large business, it may be wise to distinguish your business as an LLC.

[Jbabycsx]

It couldn’t be used to write off big investments like racks or other big ticket items?


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[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.

[Godzilla78]

It couldn’t be used to write off big investments like racks or other big ticket items?


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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.