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Posted by Paultry on March 18, 2008, 5:32 pm
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Taxpayer is a sheep farmer, previously herded sheep (pasture
to barn, between pastures, etc) on his ATV. With the growth
of his herd, he acquired a herding-trained border collie in
2007 (fascinating to watch the dog work!) for $1,700.
Depreciation rules discuss livestock but not working dogs.
I researched some old discussions in this group that mention
guard dogs but not herding dogs. I'm thinking the dog would
be 7-year property either as agricultural machinery or
equipment, or as property not in any other class. Any
experience/suggestions with herding dog depreciation?
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Posted by AES on March 18, 2008, 10:47 pm
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> Taxpayer is a sheep farmer, previously herded sheep (pasture
> to barn, between pastures, etc) on his ATV. With the growth
> of his herd, he acquired a herding-trained border collie in
> 2007 (fascinating to watch the dog work!) for $1,700.
> Depreciation rules discuss livestock but not working dogs.
> I researched some old discussions in this group that mention
> guard dogs but not herding dogs. I'm thinking the dog would
> be 7-year property either as agricultural machinery or
> equipment, or as property not in any other class. Any
> experience/suggestions with herding dog depreciation?
Given the accepted wisdom that dogs age 7 times as fast as humans,
wouldn't they also depreciate 7 times as . . . oh, well, let's drop this
topic.
[And get into whether Kibble and chew toys can be deducted as
business expenses.]
--
<< ------------------------------------------------------- >>
<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
<< The Charter and the Guidelines for submitting posts >>
<< to this newsgroup as well as our anti-spamming policy >>
<< are at www.asktax.org. >>
<< Copyright (2007) - All rights reserved. >>
<< ------------------------------------------------------- >>
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Posted by Mark Bole on March 18, 2008, 11:00 pm
Please log in for more thread options AES wrote:
>
>> Taxpayer is a sheep farmer, previously herded sheep (pasture
>> to barn, between pastures, etc) on his ATV. With the growth
>> of his herd, he acquired a herding-trained border collie in
>> 2007 (fascinating to watch the dog work!) for $1,700.
[...]
> Given the accepted wisdom that dogs age 7 times as fast as humans,
> wouldn't they also depreciate 7 times as . . . oh, well, let's drop this
> topic.
>
> [And get into whether Kibble and chew toys can be deducted as
> business expenses.]
>
Now *that's* what I call tax humor! ;-)
Did the seller of the "herding-trained border collie" report gain on
sale of business asset?
-Mark Bole
--
<< ------------------------------------------------------- >>
<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
<< The Charter and the Guidelines for submitting posts >>
<< to this newsgroup as well as our anti-spamming policy >>
<< are at www.asktax.org. >>
<< Copyright (2007) - All rights reserved. >>
<< ------------------------------------------------------- >>
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Posted by D. Stussy on March 19, 2008, 12:13 am
Please log in for more thread options > AES wrote:
> >
> >> Taxpayer is a sheep farmer, previously herded sheep (pasture
> >> to barn, between pastures, etc) on his ATV. With the growth
> >> of his herd, he acquired a herding-trained border collie in
> >> 2007 (fascinating to watch the dog work!) for $1,700.
> [...]
> > Given the accepted wisdom that dogs age 7 times as fast as humans,
> > wouldn't they also depreciate 7 times as . . . oh, well, let's drop this
> > topic.
> >
> > [And get into whether Kibble and chew toys can be deducted as
> > business expenses.]
> >
>
> Now *that's* what I call tax humor! ;-)
>
> Did the seller of the "herding-trained border collie" report gain on
> sale of business asset?
I hope not. Working animals are usually inventory by those who breed them.
--
<< ------------------------------------------------------- >>
<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
<< The Charter and the Guidelines for submitting posts >>
<< to this newsgroup as well as our anti-spamming policy >>
<< are at www.asktax.org. >>
<< Copyright (2007) - All rights reserved. >>
<< ------------------------------------------------------- >>
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Posted by Mark Bole on March 19, 2008, 9:17 am
Please log in for more thread options D. Stussy wrote:
[...]
>>
>> Did the seller of the "herding-trained border collie" report gain on
>> sale of business asset?
>
> I hope not. Working animals are usually inventory by those who breed them.
>
It's not inventory to the purchaser -- why would it necessarily be
inventory to the seller? More info is needed.
Living in an urban area, it is rare that I see a Schedule F. Heck, for
all I know raising dogs for sale might not even be considered farming
(assuming that's the source of the border collie, and not another
sheep-herder).
-Mark Bole
--
<< ------------------------------------------------------- >>
<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
<< The Charter and the Guidelines for submitting posts >>
<< to this newsgroup as well as our anti-spamming policy >>
<< are at www.asktax.org. >>
<< Copyright (2007) - All rights reserved. >>
<< ------------------------------------------------------- >>
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