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Equine and Bovine Services: For the horse industry especially, the IRS really requires some pretty serious documentation of your intention to operate a horse business as a "for profit" business. If you don't have it, you will be labeled a "hobby" operation… and hang on to your wallet if that happens!! It won't be pretty, especially if this is the 3rd, 4th or 5th year into your business and they go back to collect taxes. One of the important elements of this "proof of intention" is a Business Plan. A real plan with financial projections, marketing plans and budgets. We can create a plan for you that not only becomes a part of your "documentation of intention", but a working guideline to profitability. We also provide:
* Please note that for legal information, tax reporting requirements and ramifications, we recommend that you always seek advice from experts in the legal and taxation professions for your equine, bovine or other business. Global Biz Gurus does not offer this advice and assumes no responsibility for legal or tax issues or advice of or for its clients or viewers of these services. |
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