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Herd WORKS Quarterly!
Issue No. 2 |
Distinguish Your Alpaca Farm from Other Farms with Improved Herd Records that aid in Sound Decision Making
Save time.
Reduce Errors.
Make better decisions.
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Excerpts from "The Importance of Records for Taxes"
(Editors Note: In this article, author and tax lawyer John Alan Cohen helps you understand the importance of keeping good records to help justify your farm business to the IRS.)
"...people in the farming, ranching and horse industries are expected to maintain a variety of day-to-day business records to show the businesslike nature of their activities--in order to withstand scrutiny under the IRS hobby loss rule."
"For owners of horses, cattle and other animals used in the venture, it is important to maintain files identifying the number of animals owned and, to the extent possible, the date of purchase, sale prices, breeding data, horse show entry dates, racing results, and so on. And of course records of sales, promotional efforts, copies of advertising, and other information pertaining to sales should be maintained."
"It is important to keep signed copies of all documents, such as leases, sales agreements, contracts, partnership agreements, and so forth, rather than unsigned or draft copies. Also, it is important to keep some kind of log that shows the amount of time you expended in the activity on a weekly basis. "
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Dear Tim,
Welcome to the second issue of Herd WORKS Quarterly! 
It seems we've gone directly from winter to spring - from freezing temperatures and snow to 75 degrees in a matter of a few weeks. Along with spring comes alpaca birthing time and reminds us of the need to keep good alpaca records. What better way to do that than with Alpaca Herd WORKS software?
The April 15th date to file taxes in the US has come and gone - how did everything go for you?
I still remember my family's livestock record keeping system - the trusty shoebox method! When tax time came around, out came the shoeboxes of receipts and the calculator to tally up the totals for feed and and other expenses.
Times have certainly progressed, and things move faster these days. We need to make decisions about which alpacas to keep and which ones to take a closer look at - that's where Alpaca Herd WORKS comes in. A list of last year's expenses, a list of each alpaca's lifetime history of medical records, a progeny report that shows the birth weights, weaning weights and one-year weights for each alpaca's crias...these all can be printed in just a few clicks.
If you are a current user of Alpaca Herd WORKS, now is a great time to work to update your herd records. If you have not yet tried it, why not download a free trial and see for yourself if it can help mange your records. As always, help with your questions is readily available (we raise alpacas ourselves).
Check out the online workshops listed in the left sidebar to help you get started. The workshop on May 4th is the basic overview demonstration that introduces you to the various modules of the software.
Thank you for reading about Alpaca Herd WORKS. Let me hear from you about how I can make your alpaca operation record keeping easier for you!
Sincerely,
Tim Sheets
Creator of Alpaca Herd WORKS |
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Coming Soon! - iPACA for iPhone and iPod Touch
Add Mobility to Your Herd Manangement Tasks
 We are pleased to announce that an iPhone version of Alpaca Herd WORKS called iPACATM will soon be available to to add mobility to your herd management tasks. Alpaca Herd WORKS currently allows you to create group procedures and print work sheets to take to the barn to record weights and medications given. iPACATM will allow you to bypass the worksheets and and enter the data directly into your iPhone or iPod Touch. Then, simply sync iPhone with your home computer and all the data is transferred! I think you will agree that this has the potential to make you record keeping even easier!
iPACATM will be included with the next version of Herd WORKS and will have the above mentioned functionality, individual alpaca data including pedigree and much more including a drug reference and dosage calculator. I think you will find that iPACATM will provide you with the herd data you need when you're on the go! iPACATM will be provided at no charge to registered users, but will require the purchase of a third party app from the iTunes store called FMtouch.
More information on the availabilty of iPACATM will be posted on the Alpaca Herd WORKS website soon.
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The Importance of Good Farm Records for Tax Purposes
by John Alan Cohan
Wondering about the importance of your alpaca records to the IRS? John Alan Cohan explains that the IRS is continuing to take a closer look at farm records, and even your management practices as they relate to expenses. For example, Cohan says
"The IRS also may inquire about animals that are not productive or which are not being used for breeding, showing or racing purposes. For example, if an animal has become ill and has incurred significant veterinarian fees, the question is whether this animal is going to be laid up for a long time, and whether it might be prudent to sell the animal or donate it to a school or other equine charity. By doing so, you are showing that you are mindful of the costs of keeping an animal that might not be productive, and that you are reducing your costs by culling the animal from your inventory."
Having organized alpaca records can help show your intention to run your farm as a business. In addition, good record keeping can help you see which alpacas are not being as productive and ones you may want to consider culling.
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