Doing my taxes - Having minis can be EXPENSIVE!

[royalview]

: Ivew been working on my taxes also. Was not a good year for me with some exspensive vet bills and buying 3 new mares. BUT, I do love the little beggers!! We actually do usually break even at worst or make a little at best. We also run a summer horse camp and the minis are a big part of it so they do earn their keep.

What amazes me is how people think that they should be able to purchase a foal for 3 or 4 hundred bucks. I cant even properly vacinate or trim a mare a year for that. " Pony mills " are when we see their products at alot (not all) auctions. Those people are the one really cutting costs (no vacinations, improper care and feeding) If you are doing it right you cannot sell them for give away prices.

 

[Candice]

Our appt. with the accountant is next Tuesday. I've been getting all the paperwork together this morning.

I'm too chicken to add it up myself. This is our "start up year" so we have the major expenses of the purchase of all of our horses, plus the construction of the barn. It'll be interesting.

 

[horsehug]

I need to start getting mine together also.

I only have 30 minis and my figures are usually less than half of yours...... but then I give my own shots and trim my own hooves. Seeing your figures sure makes me glad I do! And I am lucky to live where I get my good grass hay for about $90 a ton.

Still, it is not always that my income is more than my expenses after figuring mileage and depreciation etc. But I do manage to do it often enough to satisfy the IRS. I have been fortunate to have some really nice foals to sell and made lots of friends along the way. I always feel so blessed that I am one of the lucky ones that loves my "job", since I do not have another job in town and this IS my little contribution to our combined income.

Susan O.

 

[Karin - NaKar Miniatures]

As I mentioned, I just listed the basic expenses. Once all the expense are added up it actually comes to a little over $900/horse. Thank goodness I don't have to pay for board! Of course, if I did, I definitely would not have but a couple. My vet charges this year are the lowest I have had in years. I am still paying on about $5000 of vet expenses from 2005. I do most of my own veterinary treatments including give my own shots, infusions, artificial insemenation, etc. If I have to take a horse in to the vet it is a real emergency. I do love my minis and will try to do what it takes to save their life, even to the point where it has put me into debt. Not a "good" business move I know. Sometimes I have had to make that difficult and heartbreaking decision to finally realize that no amount of money (not that I have an endless supply) will save them.

I admit I am not a "business" person and even more horrible sales person. LOL I don't "talk up" my horses. They basically have to sell themselves. I can't remember the last time I made a "profit" on a horse. I am lucky if I get what I paid for the horse (doesn't include what I have put into it). Most of the time I sell at a loss. Granted, I do have too many for 1 person to take of. I have tried getting help, but they last 2, maybe 3 weeks, and then you never hear from them again. So I just do things myself. Less of a hassle.

One of my goals for 2007 is to reduce my numbers and NOT BUY ANY MORE!!!!! What can I say - I am addicted to these wonderful little guys. They have brought me through the loss of my son and my husband. They keep me going and are great for stress relief. I can't imagine not ever having them.

:

 

[PrestigeMiniHorses]

Thank goodness I only have 2 of them right now, but I can only imagine what my boss goes through with all hers. She has 36ish I think, I need to go out and count them all again. She has me to do all the work, so I say they are all mine. I just don't sell anyone, not my thing I guess you could say. Hard to put a price tag on something thats not yours also. But anyhow I know my finances aren't too bad. I do all the work myself and I try to do the shots myself, sometimes you can't though. I know I try to stay away from full care facilities (nothing against them but they are mine so I don't think someone else should have to clean up after them.)

 

[Sandee]

This is a very good reason that we only have 3. I don't HAVE TO add up the costs but we do keep them separate for our own information and right off the top of my head you're better off than I would be as that farrier you figured $13 per horse costs me $25 per horse every 6-8 weeks!

 

[RobinRTrueJoy]

Hi Karin,

I HEAR you! I have similar expenses. I think I may have to drop my horses insurance this year. I pay $4000/year for mortality/med/surgical on 7 of my 11 horses. Its killing me. Of course, a cou[ple of year ago when I had problems it was a great help. Just no cash this year for extras like that.

Had to finally give up and buy a new trailer( new to me... its one year old) The expenses are sky rocketing!

And every one wants something good for nothing. I won't sell my babies for pennies, to people that think they are worthless!