Forbes.com featured a story this week, entitled “Tax Deductions for Yearling Thoroughbreds”, that may be of interest to many horse businesses. To read the article, click here. Many Thoroughbred racing industry experts are quoted in the article, including Kentucky equine lawyer Joel B. Turner, whose guest post was featured on the Equine Law Blog this
Guest Post: ClassicStar Meets the IRS in Tax Court
Happy Tuesday! As of August 15, 2011, we now have a reported tax case arising from the infamous ClassicStar debacle. Not surprisingly, the precedent involves "bad facts" and is not helpful for other taxpayers who took part in a ClassicStar deal or similar deal. The following guest post on the opinion, entitled Van Wickler v. Commissioner, is
Performance Horse Breeders Win in Tax Court
Guten Tag aus Hannover, Germany, dear Equine Law Blog readers!
For the first time since the Equine Law Blog’s inception in early 2008, we are broadcasting "live" from a location outside the United States! Speaking of the United States, this update is to let you know about the good news found in the U.S. Tax