Cattle are a good option if you are looking for a legal tax break. Everything from the feed they eat, to equipment necessary to handle them, to vehicle mileage to tend to them can be successfully deducted from your taxes. Animal health and welfare also is a necessity to consider before entering into the business. Also, losses from a ranch or farm can be deducted for seven years before you have to show a profit or the IRS will consider your cattle operation a hobby.
Instructions
Meeting Animal Requirements for Health
1. Find a place for the cattle to live. Cattle take up a lot of room and need good fences. A feed lot is more labor intensive, as all the animals are penned up in corrals and their entire diet is provided by the owner. A pasture, where cattle can move about and graze on grass, is less labor intensive as the animals tend to themselves on a day-to-day basis. You will need to monitor them as to whether there is plenty of forage or if they need to be supplemented.
2. Furnish fresh water and salt for the cattle. Cattle drink approximately 20 gallons of water a day. Water must be accessible at all times. Salt also is a necessary component for raising cattle. Fifty-pound blocks can be found at most feed supply stores.
3. Brand and vaccinate your cattle promptly. A livestock brand is a sign of ownership. If your cow escapes, your brand will assure she is returned to you. It also is illegal to sell a cow if she is not branded. Vaccinations ensure good health and help to prevent life-threatening diseases.
4. Decide which type of operation you wish to run. There are several types of cattle raising such as cow/calf, yearling and registered. Each has its own benefits and drawbacks. A cow/calf operation is the most labor-intensive as you have to feed and maintain the health of the mother cow year around. A typical yearling operation is usually seasonal. This operation works best for the feedlot style. Registered takes the highest capital to start as these animals are typically much more valuable.
Tags: intensive animals, labor intensive, labor intensive animals, your cattle
