I know, I know...my filing date is Oct. 15.....I just do not know what to do! I do not know whether to file Hobby or Business! Can anyone help out there? My hubby has been a beekeeper for 5 years...he is a Master Beekeeper and involved in a local club, so this is just not a hobby, per say. We do have investments in the business and this year, 2016, have a license with WV and have been selling locally. We sold some in 2015, but did not have a business license with WV. In 2015, I also spent money on getting more professional for the 2016 year. We have two acres and right now 14 hives. We lost several in the spring/winter. I know it may be too late to do the depreciation thing for 2015, so basically, I need to know how to file so as to not raise IRS eyebrows. I do not have an accountant yet...too late now! I use Tax Act.
Any advice would be appreciated! I have all the IRS info on hobby/business....I have read some...I just need some advice what to do! Of course, to get the most deductions possible and possibly some refund. This is not our sole income. My husband retired early from WV DOT and I have a job also. We are counting on this business to help support our livelihood.