Please note that while the following tax articles may be helpful in understanding potential benefits of Alpaca ownership, they should not be misconstrued as tax advice. Consult your tax professional to discuss how Alpacas may help you achieve your financial and tax planning goals.
This is an excerpt of Section 179 of the tax code. Please note that a full reading of this section is necessary and that excerpts that focus on Alpaca Ownership have been extracted or highlighted for ease in finding the information.
This a well written article from 2009 by Mike Safley and posted on www.alpacas.com <a href="http://www.alpacas.com">www.alpacas.com</a> It reviews ways to utilize farm deductions as it would relate to Alpaca ownership. Please note that depreciation in the first year was reduced in 2012 (as noted in the link above). Mileage deduction has slightly increased