Can you deduct having to put a fish stocking in a farm pond off of your taxes?

Answer by  stinkymess (310)

Farm tax credit is anything that you can deduct that is needed to run your business as a farmer. If you are a licensed fish breeder you can also deduct some business expenses. If your property is declared a natural habitat then you also have certain allowable tax credits and deductibles.

Answer by  Ann89 (613)

If it relates to a business activity which are carrying you can. Ensure you have the necessary documentation to back your deduction.

Answer by  GeorgeH (179)

You can make this deduction if you make money on your farm pond or use it for your business, instead of having the pond as a hobby.

Answer by  Erodice (10)

Yes you can, Stocking a pond with fish bought with company money is deductible as a business expense just like buying a net to catch them would be.

Answer by  hyperkid (470)

the only way you can deduct having a fish stocking in a farm pond is if you are actually making money (or a profit) from having it.