Yaks Tax: Financials – Firebird Farms

Yaks Tax: Financials

There is a reality to raising animals of any kind that we must be aware of and plan for. They cost money. No matter how efficient your system, they will eventually cost money. Let’s talk about what that looks like for your goals and needs. First, it’s important to identify why you want yaks, as it relates to finances.

  • Do you plan to recoup your purchase price on your yaks?
  • Do you plan to turn a profit?
  • Do you plan to use the yaks for tax purposes, zoning or grazing regulations?

If none of the above, do you have the resources to keep yaks if they serve no other purpose than being absolutely fantastic? If you answered yes to 1, chances are you can do so given a reasonable time frame, and we are happy to help build out the scope of ways in which to earn on your herd to recoup the purchase cost. If you answered yes to 2, that requires some planning, discussions, research and decisions around the specifics of your operation. It can absolutely be done, but there are a lot of details to determine with each type of enterprise in terms of size, scope, marketing channels, processing, breeding sales, etc.

We are happy to help any way we can. If you answered yes to 3, great! Yaks make wonderful ways to keep land in EFU designation, and have running costs associated with agricultural endeavors that can be used in conjunction with property development, maintenance and financial planning. If you answered yes to 4, you’re going to just have so much fun enjoying yaks for all of their innately wonderful qualities that go beyond our world of finances and human conundrums.

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