Gecko business question

[acpart]

This question is for people who keep track of their gecko business related expenses:

If you breed and sell certain types of reptiles, but also keep some species that you don't breed, do you count expenses related to those geckos as business expenses? For example, if I breed leopard geckos but buy some supplies that are only for my day geckos which I keep as pets, is that something I should count as an expense for my gecko business?

ALiza

 

[T-ReXx]

I personally don't count those as business expenses simply because I'm not using those animals as part of a breeding program, so they are considered "pets" and are therefore a luxery expense, the same as any other personal luxery expense like knick knacks, or video games, or whatever. Now, if those animals are added to a breeding program with the intention of breeding and selling their offspring(beyond personal amusement) then I would factor their care expenses into my overall breeding monetary data.

 

[Vegas Chad]

The tax man answer is no… The business owner that is trying to get as many write off’s as possible says go for it. Are you going to get busted for adding an extra tank, crickets and baby food to your end of year total, probably not…