Tax deductions for trappers and hunters RSS

Tax deductions for trappers and hunters -

If you’re like me, you are going to continue to trap whether you make or lose money. The tax laws were set up to collect taxes from profitable business and provide relief for those that lose money. Usually a business venture does not show much profit the first few years and the tax system allows the new venture a chance to get started. Likewise, most new trappers will not recoup their investment in trapping supplies in their first couple of years on the line. However, in the trapping industry we experienced a decline in the amount of revenue we take in from furs, while the prices for traps and trapping supplies have continued to increase.

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