Kicking an idea around and wanted to ask a few questions to those that have an actual guided hunt business, be it on the side or their main gig.
A few questions:
- Does it matter legally, if your guided hunts are on state/public land where it is legal to hunt? Or do you need your own private land (or permission on private land?)
- Is the licensing/insurance a hindrance in any way (financially, actually getting it, etc)
- Are you required to have insurance; if so, what do you pay on average
I go hunting so much now, someone made a joke that too bad it isn't my job because it would be a hell of a tax deduction. A light-bulb went on. If I were to incorporate or LLC this, I could list any weapons, equipment, gear and costs as expenses on the company ledger. Since I have a vehicle specifically for hunting and its use is +50% for solely hunting, that would be included, fuel, prorated amount of insurance and I'd have to check the statue but I am fairly certain a depreciate expense over the life of the firearms that were used as well as all equipment would be included as well assuming I 'gave' the weapons to the company via shareholder contribution.
Pretty much in a nutshell, I can drag all these people always wanting to go hunting with me because A. they cant find coyotes B. they don't have the equipment/weapons I do and C. don't have means to get in the middle of absolutely nowhere where I need a Jeep to get to and make some legitimate money/take deduction for shit I would already do and already own.
A few questions:
- Does it matter legally, if your guided hunts are on state/public land where it is legal to hunt? Or do you need your own private land (or permission on private land?)
- Is the licensing/insurance a hindrance in any way (financially, actually getting it, etc)
- Are you required to have insurance; if so, what do you pay on average
I go hunting so much now, someone made a joke that too bad it isn't my job because it would be a hell of a tax deduction. A light-bulb went on. If I were to incorporate or LLC this, I could list any weapons, equipment, gear and costs as expenses on the company ledger. Since I have a vehicle specifically for hunting and its use is +50% for solely hunting, that would be included, fuel, prorated amount of insurance and I'd have to check the statue but I am fairly certain a depreciate expense over the life of the firearms that were used as well as all equipment would be included as well assuming I 'gave' the weapons to the company via shareholder contribution.
Pretty much in a nutshell, I can drag all these people always wanting to go hunting with me because A. they cant find coyotes B. they don't have the equipment/weapons I do and C. don't have means to get in the middle of absolutely nowhere where I need a Jeep to get to and make some legitimate money/take deduction for shit I would already do and already own.