Well it appears Section 179 does in fact help with taxes. Without giving too much away, I will be getting a return of 5 figures. I have my paperwork very organized anticipating the IRS to take notice. I don't like to be negative, but realistically my 2007 tax return is 20 times more that 2006!
I've also been busy looking at a few properties in Washington County. I've found 1.42 acres on Laurelwood about a 15 min drive to work. There are a few issues to consider, one of them being the remoteness. Although it really isn't that far, I do consider it the country. However, I must also add the property is what I can afford. Start small and work my way to big!! I learned that lesson the hard way not too long ago!
This Friday, Jan 11th, I am heading to Astoria to check on Brandy and to meet with Peggy and run through my 2007 taxes. As mentioned above, it appears a nice return is in order which will go directly back into Stoneberg Alpacas, LLC.
It's very hard for me at times to imagine how successful Stoneberg Alpacas, LLC will be. Will I sell a lot of alpacas? What if I don't sell any? What if in 2008 I get all boys? I have prepared myself for these outcomes, but also am driven to succeed. I do realize that alpacas are not an over night get rich scheme, but do understand breding is important for my success.
As I have made trips to Northwest Alpacas, I have observed Stud males that stand out... Impact, Zegna, Glacial Storm and Soprano I am hooked on. Also Brunello was at the farm last week transitioning to the next shareholder that he belongs to. I will breed with him again.
So as I look at 2007, I am glad I took the plunge into Alpacas. I have heard many times before that without some risk there is no reward. I don't believe Alpacas are a risk and I definitely can see a huge reward.
In 2008 I'm looking at the following breeding schemes:
1. Brandy=Sun Tzu
2. Marshmellow Cream=Soprano or Zenga
3. Aspire=Bogart or Juan Pablo
4. Pearl= Brunello or Gallent Deed
5. Mocha=Glacial Storm
And I'm also looking to purchase an animal(s) due in May and August. 5 isn't enough!! :-)
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You will be a success because as new as you are to the business you are immersed in it. Many new to the industry don't have as much done in several years as you have accomplished in less than one. Though you and your alpacas don't live on the same farm you are actively participating whenever possible, you frequently update your blog, you have your site up on AlpacaNation, have begun creating your Ideal Alpaca site and are working on the material for your own site. Keep up the good work. See you on Friday.
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