It happens to us Pedigree Cat Breeders every year: tax time! While it may be simple for some, it can get overwhelming for others, especially if you’re running your cattery like a business and filing taxes appropriately.
We’ve got your back! We snagged a member of our No Judgement Zone Facebook Group , Erica Kessler, and did an interview with her. She’s a licensed CPA in the state of Missouri and is a breeder herself!
In this interview we discuss several hot topics that come up in the group quite often, as well as some topics that most people don’t think about.
Here’s What The Interview Covers:
The importance of record keeping as a cat breeder
common tax deductions or expenses that pedigree cat breeders might overlook
Specific tax regulations or considerations that apply specifically to pedigree cat breeding businesses?
Guidance on how pedigree cat breeders can accurately calculate their profits and losses for tax reporting purposes?
Differences in tax treatment for hobby breeders versus those who breed cats as a business?
Tax incentives or credits available to pedigree cat breeders that they might not be aware of?
Advice on structuring a pedigree cat breeding business to optimize tax efficiency
