Posted by:
insangelic
at Thu Feb 18 15:00:57 2010 [ Email Message ] [ Show All Posts by insangelic ]
Hi Everyone,
Not sure if this belongs in another area of the forum...but I know there are plenty of folks in here!
I've been breeding ball pythons for only 2 years (going on the 3rd) with a small number of clutches each (1 or 2). It started out with 1 ball python and somehow I ended up with over 2 dozen...unheard of right?  I even sold a few babies I hatched.
It's tax season and I know that I should be reporting any income (and costs) however small it is to Uncle Sam. Some people have told me... oh it's such a low amount... don't worry about it. I clearly fall into the category of business by the IRS definitions of hobby or business. I know I don't plan to become a huge breeder (it would be nice!) but I also don't want to mess up my opportunity by starting on the wrong foot with the IRS. How does everyone handle this aspect of their "hobby." (Please don't self incriminate!)
Also... I couldn't find information on this... but does anyone know at what point I would need a permit like after this # of snakes or if I even need one in California?
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 hobby or business? - insangelic, Thu Feb 18 15:00:57 2010
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