Lost a Cow Yesterday

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sstterry
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Lost a Cow Yesterday

Post by sstterry » Tue Dec 11, 2018 9:14 am

I lost a cow yesterday, evidently she was trying to calve and it must have been breech. My question is how do I handle this on taxes? Is there a loss for this that can be written off?

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Re: Lost a Cow Yesterday

Post by callmefence » Tue Dec 11, 2018 9:40 am

Sorry..I lost a calf yesterday for I suspect the same reason. You can't lose em if you ain't got em.
I would think no. You can buy a new cow and write it off.
If it ain't tight , It ain't right.




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Re: Lost a Cow Yesterday

Post by slick4591 » Tue Dec 11, 2018 10:19 am

They should have been written off from the start if you bought her. If she is your own then you don't according to my tax lady.
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Re: Lost a Cow Yesterday

Post by farmerjan » Tue Dec 11, 2018 10:28 am

One of the reasons we buy and sell some cattle. For the express reason that if we lose one, it is a bought one. My son's tax guy keeps up with all the rules, and if you raise it you can't write it off, but if it is bought it gets treated different for tax purposes. Different with depreciation.... we get screwed enough, so we figure that if we lose one, it has to be a bought one that can be written off. This was suggested by our tax guy.....

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Re: Lost a Cow Yesterday

Post by sstterry » Tue Dec 11, 2018 11:57 am

Since I just took over after my Dad died, I have no idea if she was bought or raised, I have my suspicions. :)

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Re: Lost a Cow Yesterday

Post by Katpau » Tue Dec 11, 2018 1:26 pm

You can't write off an expense that does not have an actual out of pocket cost. Most farms and ranches use cost rather than accrual accounting. That means the cost of feed etc. to raise an animal is written off in the year they occur, rather than being written off later when the animal fed is sold. If she is a raised cow, most likely all expenses associated with her have already been written off when they occurred. If she was purchased, she may have been written off entirely as section 179 depreciation in the year she was purchased or she may have been added to your depreciation schedule and written off over a period of 5 years. If she is not yet fully depreciated, you will now write off the balance. Check out your last years tax return and see if she is on the depreciation schedule.

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Re: Lost a Cow Yesterday

Post by M-5 » Tue Dec 11, 2018 1:41 pm

If you do things correctly its just shrink and no way to write it off . if your into being dishonest and cheating you cook the books.
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Re: Lost a Cow Yesterday

Post by kenny thomas » Tue Dec 11, 2018 5:57 pm

sstterry wrote:Since I just took over after my Dad died, I have no idea if she was bought or raised, I have my suspicions. :)

I suspect you paid cash for it while in line at the stock yard. No idea who the guy was that you bought her from. :hide:
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Re: Lost a Cow Yesterday

Post by snoopdog » Tue Dec 11, 2018 6:24 pm

They also sell receipt books at walmart, scribbly scribbly, doctor signature-800dollars, do not get the numbered ones. I am not advocating cheating on your taxes, this has been a public service announcement.
Being poor is the most expensive thing there is

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Re: Lost a Cow Yesterday

Post by farmerjan » Tue Dec 11, 2018 6:27 pm

Lost a 3 yr old 1st calf heifer yesterday. The owners had come out to the farm, and then I got there about an hour later. She was with the rest of the group. Went to the barn, fed my calves in the creep area, talked to the daughter that was up visiting from Tn and then went to go down the drive and there she was dead out flat. At first I thought she had her back down the hill but nope, legs down the hill, and looking bloated.... still warm. At least the owners finally saw that there it is, it happens for no apparent reason. Had a 5 1/2 month calf on her that is eating good. She will just be absorbed, as she is one I raised and no write off. It happens. We do not "cook" the books, but will also use what we can as write offs....

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Re: Lost a Cow Yesterday

Post by snoopdog » Tue Dec 11, 2018 6:37 pm

Wow , jan, sorry for your loss
Being poor is the most expensive thing there is

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Re: Lost a Cow Yesterday

Post by farmerjan » Tue Dec 11, 2018 6:52 pm

snoopdog wrote:Wow , jan, sorry for your loss


Thanks, that was a real kick in the teeth. The owners wife asked if I was gonna call the vet, I said why she's dead, and she said well, to get an autopsy, and I said, no, it will cost over 150 to do it, plus it's saturday so extra because it is not regular "hours" plus it's just not worth it. I said if I thought we had some sort of a problem, or a disease, I would call the vet in a minute... but just not worth it to throw away that much on a dead cow. It just happens. They thought the last time I had a cow die there, several years ago, she was an old cow, that it was just "so awful" and maybe I wasn't doing something I should have been doing..... well, this time they drove up the hill, everyone was just nosing around, and 2 hours later, there she was dead.... There were also 3 rolls of hay out in the back they hadn't hardly eaten, so no one could say they were hungry.
The do gooders that just don't know and then think that you aren't doing something right.
Oh well, guess I have to be glad that cull cows aren't worth $1.00 lb......

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Re: Lost a Cow Yesterday

Post by gcreekrch » Tue Dec 11, 2018 7:05 pm

No matter how hard you try, you can't kill them all...…….

Every one hurts.
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Re: Lost a Cow Yesterday

Post by snoopdog » Tue Dec 11, 2018 7:19 pm

gcreekrch wrote:No matter how hard you try, you can't kill them all...…….

Every one hurts.
They find a way to do it themselves, we have been fortunate this time around so far, knock wood. But it will come.
Being poor is the most expensive thing there is

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Re: Lost a Cow Yesterday

Post by greybeard » Tue Dec 11, 2018 7:21 pm

gcreekrch wrote:No matter how hard you try, you can't kill them all...…….

One day after church,I overheard one of the women folk say that .......I don't think they were talking about cattle tho..
"For evil to flourish, all that is required is for good men to do nothing" Burke

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