Reptile & Amphibian Forums

i have been breeding and selling reptiles since i was in 6th grade and i had someone ask me a question that i never thought about...

should i have a tax #??? i am usually dealing with everyday people and the local petshops as customers... but am i legaly suposed to have a tax #??? i live in kansas if that helps any...

i hope i dont sound too stupid here, but i dont know the laws on this sort of thing and i would rather not get burned somewhere down the road..

shiloh

Yes you need to file taxes, get an accountant or someone who knows a little about the tax system. Chances are if you are like most of us, after you write off stuff you won't actually have to pay.

ok thanks...

i have been doing this for several years but i expanded my project 3 years ago and i have kept recepts for everything i have bought ever sence.. so can i write off all of that stuff or is it only the things i have bought in the fiscal year???

Its only stuff you bought in the fiscal year. Also not sure if your breeding high dollor morph or not but if you make less than 600 a year you don't need to file it. If you want to anyways or if you make more than 600 a year theres a spot on you tax papers for other income and you could put it there. When i did my taxes for this past year i talked to my tax person about this and she said equipment is only a writeoff if i have a business liscence. Then food , equipment and even part of your morgage or rent can be written off as a home based business. She started to get in real depth to where she lost me with phone and advertiseing stuff. If you plan on makeing more than 600 then you might want to go talk to your tax guy so you have a heads up for next tax season. This is what my tax person told me but you might want to verify everything with your tax person. I am not an accountent ( hell can't even spell it lol) so you might want to make an appointment with your or find one. Hope this helps without scaring you to death , darn IRS. Paul

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