Wildlife Breeding Can Dramatically Reduce Your Taxes!
Animals purchased for the purpose of breeding vs a hobby are considered assets and may be depreciated using section 179 and 168k of the IRS code (Depreciation and Bonus/Accelerated Depreciation). Currently these are 100% deductible in the year they are acquired with no limits. A possible example would be someone purchasing $100,000 in animals for breeding purposes could see a tax savings from other income of $38,000 in the State of Texas.
There are other possible deductions available for your breeding operation that we recommend you discuss with your accountant or tax advisor.
Additionally, WildLife Ranch Solutions also provides a safe and secure outlet for revenue generation by purchasing any offspring your ranch produces. This can generate annual cashflow for your breeding operation.
The best way to get started is with a comprehensive Ranch Survey and Business Plan creation.
Included in your fully customized business plan:
- Aerial Survey
- Soil testing
- Water Analysis
- Custom Business plan for your Breeding Operation with recommended species and stocking rates
- Basic tax concepts of a breeding operation