Alpacas are not only beautiful to look at and easy to care for, they are a sound financial investment. We will be glad to share our knowledge of the care and breeding of alpacas, as well as our knowledge of the tax advantages of raising alpacas.
Facts About Alpacas
Alpacas are members of the camelid family. They are a smaller cousin to llamas but are not used as pack animals and have a much higher quality fleece...
Provided you meet the minimum requirements, there are many tax advantages available to alpaca owners. An owner does not have to be caring for the alpacas on their own land on a daily basis in order to benefit from tax breaks. You may agist your alpacas (passive ownership) and still claim deductions, however not all allowable deductions may be applicable to alpaca owners while they are using the agisted ownership approach, simply because you may not be actively incurring the deductible expenses while agisting.
Part I – Tax Benefits of Alpacas
By: Gina Morgan Provided you meet the minimum requirements, there are many tax advantages available to alpaca owners. An owner does not have to be caring for the alpacas on their own land on a [...]
Part II – More Tax Benefits
By: Gina Morgan The following are some of the expenses which may be deducted from income for tax purposes: Cost of alpacas used for breeding. Veterinary care. Medication and supplies for livestock Feed, hay and [...]