• Alpacas 101-- Will be given again in the Spring of 2010.
  
  
  Learn:
  *The History of the Alpaca Industry in the United States
   
  *Overview of tax advantages to owning alpacas (or any livestock), especially         before 2010
  
  
  *Basic alpaca husbandry (shearing, toenails, shots, haltering, training, breeding, pregnancy testing, etc.)
  
  
  *Introduction to alpaca fiber and its many uses
  
  Call 307-634-6713 or 307-778-6570  for the next date!

• February 27- 28, 2010  Extravaganza

Boulder County Fairgrounds
Longmont, CO

New Products and Items to show!

• May 1 - 2, 2010  Great Western Alpaca Show

Great Western Complex
Denver, CO

• June 12 - 13, 2010  Estes Park

Wool Market
Estes Park, CO

• June 19,  2010 "Fiber to Fashion" Open House!

John and Lynn's House
Date - TBD

• Tax Tip for 4/1/2009
  
  Remember that if you want to donate an animal and take a charitable deduction, you must be a sole proprietor and the donation must be to a 501(c)(3) organization and can only be taken on your Schedule A. The fair market value of the animal must be used, and there must be a "reasonable" value used. For example, the fiber male you donate to 4H should not be valued as a herdsire. If you have a basis in the animal and you depreciated the animal, such as a purchased animal, you must subtract the basis from the fair market value. If the animal was born on your farm, you have no basis. Also, if you are a single-member LLC, you are treated as a sole proprietor for tax purposes and can take charitable deductions from your business on Schedule A. But if you are an entity such as a partnership, limited partnership, LLC, or corporation, you cannot take a charitable deduction.

• Tax Tip for 11/1/2009

  There is a lot going on in Washington this fall. One thing we all should be aware of is that the Section 179 deduction is scheduled to be cut in half in 2010 and to return to its pre-2001 level at the end of 2010. It may never be reenacted at its current level of usefulness.

  The tax code overhaul in 2001 resulted in the generous section 179 deduction available currently, which is $250,000 in 2009 and can be used to offset any actively earned income, as long as you are engaged in an active trade or business. In 2010, the deduction is scheduled to be $125,000 plus an inflation adjustment . That is, if congress, in its search for tax revenue, doesn’t chop it down to pre-2001 levels. For example, in 2000 the deduction was limited to $24,000 and in 2001 it was $25,000 for most of the year. Under current law, the deduction is scheduled to return to $25,000 on January 1, 2011.

  If you have some potential customers who are hesitating, this information could help them come to a decision before the end of this, or maybe next, year. Remember, though, that the deduction may not be taken for an alpaca unless the animal was of breeding age at the end of the year you are taking it.

  As I mentioned, the currently generous deduction was enacted to help stimulate the economy after 9/11. The economy is in bad shape these days too, but the current administration does not seem as inclined to look at tax cuts as the Bush administration was. My crystal ball is broken and I am not willing to predict what will happen to the tax code, but I do feel certain change is coming and I think we, as breeders, can use the uncertainty to help our businesses.

   
  
  * These tax tips are not intended to be legal or tax advice and you should discuss your situation with your own tax advisor.