Beemaster's International Beekeeping Forum

ADMINISTRATION & HELP => ADMINISTRATION FORUM => Topic started by: cowboygourmet on September 23, 2018, 02:30:26 pm

Title: Of interest to the IRS
Post by: cowboygourmet on September 23, 2018, 02:30:26 pm
Looking for a go to person that has experience with the IRS as it pertains to expenses that might be a " Red Flag" when reporting
I have enough bees now and sell enough honey that the income will have to be reported and I don't want to make any mistakes if possible
Title: Re: Of interest to the IRS
Post by: Acebird on September 23, 2018, 05:58:13 pm
A red flag would be  not creating a business.  If you create business you should get an  accountant.
Title: Re: Of interest to the IRS
Post by: Dallasbeek on September 26, 2018, 11:18:11 pm
Texas Agriculture Code, Chapter 131, is your first place to look.  Standard business practices and the Internal Revenue Code spell out the details.  I don't think there are any "red flags" any more.  The IRS is spread so thin that agents are not checking whether you actually use part of your home as an office, for example, but the computers at IRS are very efficient.