I went LLC 3 years ago as a CYA. I am not putting my personal assets at risk over beekeeping. I'm very careful but if I get sued (for whatever) my beekeeping company is out of business and I'll start another one. I spent $2,291 and brought in $2,262 and I report it on my IRS taxes. I've got my fingers in enough pies that I keep tight records and let the tax professionals handle it. I'm still increasing the number of hives. At the point where I am not increasing and having to purchase as many supplies I do expect to make a little money but at it's core beekeeping is a labor of love. My cost for 2011 will be much higher as I substantially upgraded my extraction equipment.