Originally Posted by JDinCO
Technically, if you trap and sell pelts, you are in business, even if you only sell one pelt. Hook up with a accountant to learn about the book keeping needed and what you can claim as expenses to show profit and loss on your tax returns. When I was doing it you had to actually earn a profit in 5 years to continue doing so. A way to make your hobby less financially painful.

Last winter I saved all my receipts for fuel, scents, new traps and a bunch of other things I could relate to it, as well as the receipt for what fur I did sell, down to my accountant. They said unless I made X profit, or lost X amount (or something along those lines it---can't remember the specifics) it wasn't worth even mentioning on my taxes. They didn't even look at my figures, as when I gave a rough estimate, they said I wasn't even close enough to making it worth the trouble.