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.
To learn more read Part I: Tax Benefits followed by Part II: More Tax Benefits.
|
