A very sad day at Tucker Creek

All who have visited our farm know we have a variety of four legged critters.  Two of which are Texas and Tess.  On Monday afternoon Texas Lightning (as was his registered name) was euthanized after being treated by our veterinarian over the weekend.  Upon necropsy it was found that he was bleeding into his abdomen and had a basketball sized tumor around his kidney. 

Texas was 27 and appeared as healthy as a horse half his age.  He is painfully missed by all of us humans but that loss is nothing compared to the loss felt by our dear little mare and his long time pasture mate, Tess. 

It is amazing the role he played beyond just being a great horse--he also helped us to locate Tess.  Tess has always been a bit of a Houdini from the time she was a young filly.  The first thing every morning we look out to see where the horses are.  Texas was always easy to find--being bigger than Tess and a paint he always stood out in the pasture--and that is where he generally was as he did not have the Houdini tendencies that Tess has.  So all we had to do was find Texas and Tess would be somewhere near by as he would stay near her even if she chose to morph herself into the area between the pasture and the creek (none of us has ever seen how she gets over the fence).  Tess would be witchy to him from time to time but he would always be at her side--sometimes painfully for him. 

So it has been a very painful goodbye to a very dear friend.

2010 IRS Tax Calendar

What a concept . . . the 2010 IRS Tax Calendar has been released and is quite a handy tool.   It is not only a traditional calendar with the various tax deadlines we all need to follow but the online version also has links for what is new, forms and publications, helpful tips on what to do when you receive a notice as well as a list of resources for most tax related issues. 

Many times the IRS website can appear quite overwhelming; however, the calendar has links to get you to the same place without the daunting official appearance.  The hard copy version is free but is currently out of stock--so check back in a few weeks.  The online version is a great link to add to your favorites.  Here is the link:

http://www.tax.gov/calendar/

Astoria Fiber Arts Academy

When the email arrived describing the Astoria Fiber Arts Academy Peggy might have been as excited as when she got the initial email from Robyn Kuhl and Carrie Hull describing fiber sorting. Could not believe that such a cool resource was going to be right at our finger tips.  Here is a short description of what they plan to offer the community:

Opening January 2, 2010

The Astoria Fiber Arts Academy welcomes visitors to its location in downtown Astoria, Oregon.


Visitors will find several communal work areas - one for weavers and their looms, and a second area for hand-held crafts such as knitting, crocheting, and embroidery.


The Academy has a retail outlet where one can purchase locally dyed yarns as well as products created by local craftspersons.


Classes are offered in over nine categories of fiber arts. Immersion classes are weekend long sessions designed for both local residents and visitors to the area, with options to stay in local hotels within walking distance of the academy. Individual classes are offered in specialized topics.

Alpacas at Tucker Creek is already a member and Peggy has signed up for a rug weaving class in February and has offered her services as a volunteer and/or instructor.  This is a wonderful new resource to our area that blends well with our overall business philosophy and warrants our support. 

We will keep you posted on the rug making success--Peggy is just a novice--but maybe we will have an opportunity to create an alternative for processing our lowest grade fiber without incurring the freight costs of sending them to Texas.  " I'm a rug making newby--I can dream." 

IRS Announces 2010 Standard Mileage Rates

The IRS has released the standard mileage rates for 2010.  There is a 5 cent reduction in the standard mileage rate for business purposes.  The full report as issued today appears below:

WASHINGTON — The Internal Revenue Service today issued the 2010 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes.



Beginning on Jan. 1, 2010, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be:


• 50 cents per mile for business miles driven


• 16.5 cents per mile driven for medical or moving purposes


• 14 cents per mile driven in service of charitable organizations

The new rates for business, medical and moving purposes are slightly lower than last year’s. The mileage rates for 2010 reflect generally lower transportation costs compared to a year ago.


The standard mileage rate for business is based on an annual study of the fixed and variable costs of operating an automobile. The rate for medical and moving purposes is based on the variable costs as determined by the same study. Independent contractor Runzheimer International conducted the study.


A taxpayer may not use the business standard mileage rate for a vehicle after using any depreciation method under the Modified Accelerated Cost Recovery System (MACRS) or after claiming a Section 179 deduction for that vehicle. In addition, the business standard mileage rate cannot be used for any vehicle used for hire or for more than four vehicles used simultaneously.


Taxpayers always have the option of calculating the actual costs of using their vehicle rather than using the standard mileage rates.


Revenue Procedure 2009-54 contains additional details regarding the standard mileage rates.

Year End Tax and Business Plan Seminar

Mark your calendars for Saturday, December 5th as Peggy & Fred Kraft from Northwest Alpacas will be presenting their tax and business plan seminar just in time for year end tax planning.

Ideally, people who are considering purchasing their first alpacas will take this class before they spend their money. Most successful businesses start with a plan and we will help you create one for the alpaca business. But this is also a great class for anyone wanting an update on alpaca tax issues.

This class is being presented at Northwest Alpacas in Hillsboro, OR. There is a special year end rate of $25.00 so be sure to call or email Peggy or Fred directly to take advantage of this offer. Here is our contact info.

Peggy Stevens
Alpacas at Tucker Creek
peggy@alpacadigest.com
www.alpacadigest.com
877-915-0522 Toll Free

Fred Kraft
Northwest Alpacas
fred@alpacas.com
www.alpacas.com
877-788-3627

Look forward to seeing you on the 5th and feel free to send us any of your tax or business plan questions before or after the seminar

Section 179 and Other Items Adjusted for Inflation for 2010

Here is the announcement we have been waiting for--the limitations for Section 179 for 2010. For taxable years beginning in 2010, under §179(b)(1) the aggregate cost of any §179 property a taxpayer may elect to treat as an expense cannot exceed $134,000. Under §179(b)(2), the $134,000 limitation is reduced (but not below zero) by the amount by which the cost of §179 property placed in service during the 2010 taxable year exceeds $530,000. This is a huge reduction from the 2009 limitation of $250,000 on purchases not exceeding $800,000. Clearly 2009 is the year to make the bulk of your business asset purchases (and this certainly includes alpacas) especially when you consider that this year also has the 50% bonus depreciation deduction available on NEW asset purchases.

As shared in previous blog entries, this deduction is scheduled to be reduced again in 2011 to $25,000 on purchases not exceeding $200,000. So if you don't make your purchases in 2009 don't miss your opportunity in 2010.

The same publication also includes other deductions and limitations adjusted annually for inflation. Here is the link to the publication:

http://www.irs.gov/pub/irs-drop/rp-09-50.pdf

So start sharpening your pencils and figure out how these deductions can do you the most good while the limitations are at their maximum.

The Alpaca Show Ring Reflected as a High School Memory . . .

Kellie Overbey of Parson's Prairie Farm in Gladstone, Missouri, appeared in the Oak Park High School 2009 Year Book highlighting her family's alpaca farm. What a great opportunity to expose another generation to the rewarding experiences our industry has to offer.

Great Job, Kellie!