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My Yearly Cattle costs are 55 cents/day/cow in Texas, What am I doing wrong?
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<blockquote data-quote="Caustic Burno" data-source="post: 1728360" data-attributes="member: 694"><p>Exactly one way is a business the other is a asset liability.</p><p>If you want to play golf or run hobby cows is all well and good. Just knowing it makes a difference.</p><p>When you file taxes do you write off the tax expenses to the cattle. If so the cattle pay the taxes.</p><p>Everything you write off you or the cow pays.</p><p>One way it's a business the other a hobby.</p><p>What's on that schedule F as an expense? Sales?</p></blockquote><p></p>
[QUOTE="Caustic Burno, post: 1728360, member: 694"] Exactly one way is a business the other is a asset liability. If you want to play golf or run hobby cows is all well and good. Just knowing it makes a difference. When you file taxes do you write off the tax expenses to the cattle. If so the cattle pay the taxes. Everything you write off you or the cow pays. One way it’s a business the other a hobby. What’s on that schedule F as an expense? Sales? [/QUOTE]
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My Yearly Cattle costs are 55 cents/day/cow in Texas, What am I doing wrong?
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