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Thread: Business Plans

  1. #1
    Join Date
    Jul 2005
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    Waynesville, NC
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    112

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    Anyone out there willing to share a business plan for Apiary Operations (Beekeeping in General)?

    Just filled out my taxes today, and the H&R Block rep suggested I look into crossing from hobbiest into business. First step...business plan.

    I found several templates for general plans on the web, but would like to see a bee specific example.
    Regards from Western NC!

  2. #2
    Join Date
    Jul 2005
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    Waynesville, NC
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    Please disregard...Should have done the forum search first!!
    Regards from Western NC!

  3. #3
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    Jun 2005
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    Greensboro, N.C.
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    Best plan available. LEAVE H&R BLOCK

  4. #4
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    Jan 2005
    Location
    Clear Lake, WI / Sebring, FL
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    Best plan available. LEAVE H&R BLOCK
    +1000
    Clear Lake Wi. / Sebring Fl.

  5. #5
    Join Date
    Feb 2006
    Location
    Ellenboro N.C.
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    261

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    Why leave H&R Block for.
    If your gettin stung your doing something wrong...

  6. #6
    Join Date
    May 2004
    Location
    Lehi, Ut,
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    145

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    sounds like what your doing is working your plan is to keep doing what your doing but with a few more hives. you need know to ask your self how meany more hive do i want to run. if any
    eaglesbee

  7. #7
    Join Date
    May 2005
    Location
    Colorado
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    1,525

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    Stinger, none of us can answer your question without opening ourselves up to legal actions. And even if it's true and provable, H&R has more attorneys than I do.

    Hawk
    KC0YXI

  8. #8
    Join Date
    Feb 2003
    Location
    lewisberry, Pa, usa
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    Monsanto, Wal-mart, Halliburton, etc, etc, etc....
    Nobody in the history of Beesource has ever stopped short of bashing any company and leveling wild claims and accusations, while stating bias and one-sided opinions. Why stop now. You mean to tell me that some "opinion" or vague description of H&R block can't be discussed without fears of hoards of attornies and pending lawsuits.

    Are you promoting turbo-tax, the idea that taxes should be done by another company, or is H&R block just the same as any other "big" company. To be scorned and somehow vilified. Please do tell....

  9. #9

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    Back to the topic....

  10. #10
    Join Date
    Apr 2005
    Location
    College Station, Texas
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    6,973

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    bjorn sezs:
    Are you promoting turbo-tax, the idea that taxes should be done by another company, or is H&R block just the same as any other "big" company. To be scorned and somehow vilified. Please do tell....

    tecumseh suggest:
    my quess is that some hypothetical person facing murder charges might devise a RATIONALIZATION as to why the fellow with the internet acquired law degree would do just fine. another quess is that bjorn favorite corporate criminals would NOT do the same. it seems for some folks that ABUSING the legal system is O-tay for corporation but not O-tay for individuals.

    any tax preperation business that suggested that I needed to develope a business plan to justify some TAX WRITE DOWN is very obviously simply trying to cover their own liability. an additional guess is the 'bring us a business plan' is double-speak for.... 'if you want to use this a tax dodge you are on your own'.

  11. #11
    Join Date
    Jun 2005
    Location
    Greensboro, N.C.
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    Maybe they hire any that walk in off the street, give them a few hours training, and let them do your taxes. A business plan for one hive. RIDICULOUS

  12. #12
    Join Date
    Feb 2003
    Location
    lewisberry, Pa, usa
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    Ok tecumseh. Its early. Still scatching my eyes...I'll read it again and see if I get it...
    I usually get a slam from you, but its not clear, still thinking.....

  13. #13
    Join Date
    Feb 2003
    Location
    lewisberry, Pa, usa
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    junglebill has one hive?

    Makes me wonder if the tax person initiated the idea of writing off the "one hive" or junglebill did.

    It is also not clear that the tax guy even mentioned needing a business plan...

    >Just filled out my taxes today, and the H&R Block rep suggested I look into crossing from hobbiest into business. First step...business plan.

    Is this junglebill's first step or the tax guys first step.

    I will say that if you are running your hives as a business (I'll assume more than one at this point) then a business plan is not a bad thing. Most successful businesses have one. Many businesses that fail do not.

    I assume that asking someone who wants to run a business, that they should consider a business plan, was just one part of the conversation. I am sure much of the details are missing...

  14. #14
    Join Date
    Apr 2005
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    College Station, Texas
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    really bjorn, I did not mean to make this as a personal slam of you. although you always provide such a wonderful snip-it on a reqular bases.

    as to h&r block I think iddee has directly suggested my opinion. this is not to say there are not some h&r block offices and employees that are perfectly well qualified, but defining the good from the bad is never quite obvious to Mr Average Joe.

  15. #15
    Join Date
    Feb 2003
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    lewisberry, Pa, usa
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    tecumseh,
    I dont mind. Watching the "faux" comments and others foaming at the mouth from my comments on Fox news, listening to Rush, supporting the Pres, and comments on my "Big business' stocks going up, really make my day. I try very hard to allow you as many of the comebacks and frivilous comments as possible.

    I was just not sure what the basis for the H&R comment was, let alone the idea that commenting further would bring about legal action....

  16. #16
    Join Date
    Apr 2005
    Location
    College Station, Texas
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    bjorn adds:
    I try very hard to allow you as many of the comebacks and frivilous comments as possible.

    tecumseh sezs:
    thank ya', thank ya'.... thank ya' very, very much...

    maybe?????

  17. #17
    Join Date
    May 2005
    Location
    Knoxville, TN
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    1,933

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    I don't know the first thing about H&R, but I have found doing your own taxes opens your eyes to the tax laws, which is very helpful. It is easier to know how to proceed in your finances when you understand how your taxes will be affected. I know there is some limit to the amount the average person will want to deal with, but I know people with very complex taxes that do their own for the same reasons I mentioned.

    I would think a good preparer will in addition to doing your taxes walk you through the hows and whys on a line by line basis. The last time my father used a preparer, he had to help the individual do his taxes.

  18. #18

    Post

    Finding a specialized farm accountant might be a task, especially one familiar with beekeeping on a large scale in your own state. Just not that much around. So, when one leaves HRB, you might get one familiar with tax laws but not up to speed on bee farmer needs. So the trick is to rely on yourself with professional help. Read the tax books that pertain to you and all the special bulletins.

    I have grand business plans. Writing them out with details does not get my wife to say yes any easier. The important point for me is to treat this as a business. I suspect that many people think of it as such but have no idea of what the bottom line is.

  19. #19

    Post

    H&R Block has a great training program for filling out individual tax forms. They have no training program for giving tax advice! However, having a business plan would be one piece of proof that you intend to make a profit from your beekeeping activities. If you entered beekeeping to make a profit, you should treat beekeeping as a business. Engage in advertising, use business letterhead stationery, maintain a business phone, etc.

    The profit motive is the key. Business expenses are deductible only if the taxpayer can show that the activity was entered into for the purpose of making a profit. If you make a profit 3 out of 5 years, the burden of the proof is on the IRS to prove that beekeeping is not a business. If you lose money 3 out of 5 years, the burden of proof is on you to show that beekeeping is not a hobby (presumptive rule of section 183).

    The IRS will try to establish that the beekeeper is not engaged in beekeeping for profit. Satisfying the three-out-of-five rule does not guarantee that a taxpayer is home free, especially if the profits are insignificant relative to the losses. If the IRS wins, the tax consequences are horrendous!

    Here is a little philosophy on how the IRS looks at tax laws: Look a piece of paper. Look at the bottom of the paper. That is fraud. Everything below the paper is fraud. There is a very definite line of fraud. Do not cross it. Look at the top of the paper. That is the IRS position on taxes. There is nothing above the IRS position.

    What is income? The IRS defines income as everything, unless the IRS says it is not income. What is a deduction? The IRS defines a deduction as nothing, unless the IRS says that it is a deduction.

    What about the whole page (gray area) that lies between the IRS line (the top of the page) and the fraud line (the bottom of the page)? A CPA will typically take a position up about 80% of the paper (not very aggressive). A board certified tax attorney will take a position on the lower 20% of the paper (very aggressive).

    Good luck on your tax planning!

    Len

  20. #20
    Join Date
    May 2005
    Location
    Knoxville, TN
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    Your a bed of roses Len!

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