Beekeeping Business Accounting

Ace,
You need to stick with what you know and it's not accounting or taxes!

If you're in business and someone helps you to extract, you buying him lunch is NOT taxable to him, but it is a business expense to you! So throwing away that receipt is just plain .........foolish!

1099's are not there to screw you unless you screw yourself buy not reporting!

A truck drivers state is where he has his domicile regardless of where he drives.

I have no idea of what you're talking about regarding a retired teacher, I don't think you do either.

Rader, how many people file a tax form on their hobby? Do you?

This year I went from one hive to three and have yet to spend a dime this year on my hobby. It can be done and there are those who agreed with me. Read the whole thread again if your memory is failing you.

Mark there is nothing unfair about a person who gives a link that disproves his argument. However it is NTS. Do you feel the "That would be foolish" comment is in error?

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Originally Posted by snl

If you're in business and someone helps you to extract, you buying him lunch is NOT taxable to him, but it is a business expense to you!

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So where does the 1099B come in for bartered service?

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Originally Posted by Acebird

So where does the 1099B come in for bartered service?

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It does not come into play on a lunch. You merely bought him lunch which again is not taxable to him and IS an expense to you.

On a 1099B, you barter $600 of honey for $600 of services........that's one example of needing the form.
I'm not going to give you all the rules for providing 1099's .......go to irs.gov and find them. But please stop posting like it's gospel on that which you know next to nothing about.......

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Originally Posted by Acebird

This year I went from one hive to three and have yet to spend a dime this year on my hobby.

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This is how Acebird can claim that he has spent no money on beekeeping this year, in his own words:

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Originally Posted by Acebird

I did not say I didn't spend any money, I said it could be done. And I know people that have done it for years. To answer your question, nothing. My wife pays for everything.:D

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Here is a link to the complete thread:
http://www.beesource.com/forums/show...light=purchase

Rader Sidetrack,

Thanks for the reminder, that is a classic thread.

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Originally Posted by Acebird

Rader, how many people file a tax form on their hobby?

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Still throwing curves? Can't answer the question?
I will make it clearer, no one spent any money this year on the three active hives I now have. Pretty cheap hobby I would say.

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Originally Posted by Acebird

Rader, how many people file a tax form on their hobby? Do you?

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Actually if you earn income from a hobby you are legally required to complete a tax form and report it. Like many other things in the tax world some people report it and others don't.

And yes, that receipt for lunch that you would throw away really is a valid business expense that could be deducted.

Does the person have to be an employee?

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Originally Posted by sqkcrk

Does the person have to be an employee?

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If you're referring to buying lunch, dinner or small gift, the answer is no....

What about my own meals while out working bees not on my own property? Is my own meal deductable? I know there is a meal allowance for overnight travel, but what about w/in driving distance of home base?

ps: snl, that would be Yogi Berra

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Originally Posted by VeggieGardener

And yes, that receipt for lunch that you would throw away really is a valid business expense that could be deducted.

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I am sure it could but trading lunches for a days labor is not a discussion I want to take up with an agent. I don't know where the line is drawn but somewhere between a big operation and small operation trading lunches for labor will be a problem. I ain't going there.
Big brother has made it more difficult to claim expenses than what it use to be. Making sure all the i's are dotted and the t's are crossed isn't worth claiming a 5 dollar lunch which will only make a reduction in taxes about .80. Is the red tape worth 80 cents? Not to me.

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What about my own meals while out working bees not on my own property?

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Are you working your bees or someone else's?

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Originally Posted by Acebird

I am sure it could but trading lunches for a days labor is not a discussion I want to take up with an agent.

Are you working your bees or someone else's?

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I don't think anyone mentioned trading lunch for a days work. I certainly wouldn't take that trade. It's an expense of doing business, not a trade for services.

My own.

Mark have you read this publication?
http://www.irs.gov/pub//irs-pdf/p463.pdf

No. Thanks for providing it. I will read it.

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Originally Posted by sqkcrk

What about my own meals while out working bees not on my own property? Is my own meal deductable? I know there is a meal allowance for overnight travel, but what about w/in driving distance of home base?

ps: snl, that would be Yogi Berra

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Gotcha on Yogi.......was just messing around there. But the answer to your question is No. You are not away from your tax home substantially longer than a days work..........

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Originally Posted by Rader Sidetrack

> The really foolish thing is to take seriously accounting and tax advice from a 'bird ...

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This thread sould have ended with BeeTax's last post.