Why Alpacas?
Other factors to consider with alpacas:
- Alpacas are very safe around children and the elderly. In fact, many retirees gravitate to alpacas for this reason.
- Daily clean up is easy since they share communal “poop” piles.
- A simple three-sided shelter is sufficient in most climates.
- The commute to work is a short walk to the barn!
References:
IRS Code Section 179-details annual deductions allowed
Jobs and Growth Tax Relief Reconciliation Act of 2003 allows a $250,000 tax deduction for the purchase of your alpacas. This deduction has been extended through December 31, 2010 by the Economic Stimulus Act of 2008.
For more information refer to IRS Publication 225, “Farmer’s Tax Guide” at the IRS website
NOTE:
This article is intended as a guide to help establish your alpaca business. These items should be discussed with a CPA or tax attorney knowledgeable in such agricultural businesses. We are not CPA’s, nor are we tax attorneys, but offer these financial concepts as issues to pursue with your financial advisor.
