Re: Can you write off Bee loses from the winter
Beekeeping is no differient than any other business that you may invest money in.
If he went into beekeeping to make a profit, and now intends to quit then yes he can deduct everything that he spent.
If he intends to stay in the business then he might want to set up his investment on depreciation. Yearly depreciation may be taken as an expense up to a set amount that changes almost yearly.
Still if he is staying in the business he can deduct the expense of replacing the bees that he lost.
The only catch is that he must show a profit every 3-5 years, I'm not sure about the time frame this current tax year.
The other good thing is if he reinvests every year the profits from the past year he never has to hypothetically pay taxes on a profit.
Don't believe any thing else, and if your tax accountant tells you any differient go to one that knows how to file farm/business forms.
If he's in it just for fun then he needs to forget it. But with 20+ hives it surely is a business.
So much to learn, so little time!!