To all the breeders

[pssh]

My mother was talking about income taxes and what not and I was wondering if it applied to the chameleons you breed. Both professional breeders and those who do it for the experience/fun of babies.

I believe this belongs here and not the breeding thread, right?

 

[GooglezNvincent]

yeah it belongs here. I cant speak for anyone but myself, I am going to claim all my sales in taxes which will probably make ME owe money rather than getting the check in the mail from the state and the feds.

 

[pssh]

Because you're self employed?

 

[sandrachameleon]

I should think the average joe who breeds once or twice wouldnt bother disclosing the income and paying tax. But Officially, pretty much any money one earns is subject to income taxes, yes. With a little pre-work, one can also set themselves up as a business and deduct expenses incurred for the generation of said income. In my case that makes keeping chameleons a tax write-off (but you can only do that for so long).

 

[pssh]

Okay, I think I'm starting to get it more now.

 

[Pure]

In the US you do not have to claim anything earned below 600 bucks. I'm not ure though how you would look at chams. Wile each sale may be for less than that amount and to separate people, what you are doing is a constant source of income and one group of neonates will fetch you more than 600 bucks so according to unky sam...you owe taxes.