Here is the hard part. What do you want to count for and against your alpaca business? That is completely up to you and your accountant. However, I would like to suggest some areas to discuss.
Animal expenses:
Vet visits
CDT
worming
pellets
minerals
hay
fiber testing
ARI registration
Stud fees
Microchips
Tools ( shovels, rakes, etc)
Supplies (1st aid, feed and water buckets etc)
halters and leads
sharpening service
membership in associations
books, videos, and seminars
alpaca purchases
alpaca insurance
If you look at the IRS publication 225 ( Farmer's Tax Guide) you get a feel for the sections.
Income from a purely alpaca standpoint would be from breeding, and selling of animals. If you branch out, then there are many income ideas: fiber, seminars, books, herd sitting, agistment are just a few.
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