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

» Site Navigation

» Home
 > FAQ

» Online Users: 676

1 members and 675 guests
Most users ever online was 47,180, 07-16-2025 at 05:30 PM.

» Today's Birthdays

None

» Stats

Members: 75,905
Threads: 249,104
Posts: 2,572,098
Top Poster: JLC (31,651)
Welcome to our newest member, Pattyhud

View Poll Results: Who's Making Money Breeding?

Voters
142. You may not vote on this poll
  • I'm making $ and breeding is my sole source of income

    6 4.23%
  • I'm making $ and breeding supplements my income

    27 19.01%
  • I make $ and put it all back into the hobby

    20 14.08%
  • I'm breaking even across the board

    12 8.45%
  • I'm losing $ and wish I were making a profit

    11 7.75%
  • I'm losing $ and I don't care...it's my hobby

    66 46.48%
Results 1 to 10 of 66

Threaded View

  1. #25
    Registered User CapeFearConstrictors's Avatar
    Join Date
    02-28-2011
    Location
    Wilmington, NC
    Posts
    194
    Thanks
    22
    Thanked 196 Times in 74 Posts

    Re: Who's Making Money Breeding Ball Pythons?

    Quote Originally Posted by spitzu View Post
    Brandon, how does that work? I asked two different accountants about that and they shot the idea down.

    I believe I asked something along the lines of "can I claim a certain amount of $$ per rat, based off of what I would have paid to someone else".
    No offense to anyone here, but if you take tax advice of someone on a reptile forum over the advice of a CPA, you're only asking for trouble.

    I've noticed that a lot of people in this industry like to dance around the tax laws, doing such things as not reporting cash based sales. This can lead to a lot of problems for you down the line.

    I recommend finding an accountant you trust and then take their advice on what you can and cannot claim. If a CPA misleads you, they can be held legally responsible. A member on this forum misleading you cannot.
    Josh
    Cape Fear Constrictors
    http://capefearconstrictors.com | Facebook | YouTube

  2. The Following 3 Users Say Thank You to CapeFearConstrictors For This Useful Post:

    MrLang (05-07-2012),Shadera (05-07-2012),spitzu (05-07-2012)

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  
Powered by vBadvanced CMPS v4.2.1