Taxes

Article

AHC: Bonus Depreciation Bill Passed by House

July 16, 2014

The House passed a bill to amend the Internal Revenue Code of 1986 to make permanent the bonus depreciation... Read More

Article

Tax Depreciation for Racehorses Advances

April 04, 2014

This provision accelerates, simplifies, and makes uniform the depreciation period for racehorses. ... Read More

Article

Bill Would Extend Equine Industry Tax Benefit

January 14, 2014

Several favorable tax provisions the horse industry enjoyed in 2013 have reverted to lower levels or expired.... Read More

Article

French Equestrians Protest Tax Law Change

December 06, 2013

The change could threaten 80,000 horses' lives and put more than 6,000 horse industry employees out of work. ... Read More

Article

Equine Guelph to Offer Equine Business Management Course

August 10, 2013

Learn what makes a properly planned business stand out with an online course on equine business management.... Read More

Article

Kentucky Farm-Level Equine Receipts Increase in 2011

September 30, 2012

After declining for three straight years, Kentucky farm-level equine receipts increased in 2011.... Read More

Article

AHC: Connect with Congress on Equine Issues

January 26, 2012

It's important that elected leaders understand and appreciate the United State's $102 billion horse industry.... Read More

Article

Tax Changes for Horse Owners Take Effect

January 04, 2012

Federal legislation did not extend the Section 179 expense deduction or 100% bonus depreciation.... Read More

Article

2012 Equine Business Conference Scheduled

December 14, 2011

Topics covered include equine insurance; law; tax and finance; and promotion, marketing, and advertising.... Read More

Article

AHC: Horse Industry Should Take Notice of New Congress

January 19, 2011

The 112th Congress of the United States convened in early January and will face many of the same issues left over from the last Congress. But they might remain on the table as this Congress' emphasis will be on cutting government programs and ... Read More

Article

Racehorse Breeding Tax Shelter Operators Plead Guilty

October 27, 2009

Federal authorities say three men have pleaded guilty to conspiracy charges in a scheme that allowed wealthy people to get tax benefits from investments in Thoroughbred horse breeding.

The U.S. attorney's office for Oregon said Monday the... Read More

Article

Horses Top Kentucky Agriculture Receipts in 2008

August 30, 2009

Cash receipts from sales of horses and stud fees in Kentucky again made equines the top agriculture product in 2008, according to state agriculture commissioner Richie Farmer.

Horse sales and stud fees totaled $1.08 billion, down 4% from... Read More

Article

Stimulus Act Could Impact Horse Industry

February 27, 2009

The 2009 Stimulus Act signed into law by President Barack Obama contains provisions that impact the horse industry, the American Horse Council said in a Feb. 24 memorandum.

The measure contains the bigger write-off for horses and other... Read More

Article

California Veterinary Tax Removed from Budget

February 24, 2009

After a three-month battle, the California state legislature last week approved the final 2009-2010 budget, sans a proposed veterinary tax. The California Veterinary Medical Association (CVMA) conducted a letter and call-in campaign to stop the... Read More

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Keeping Financial Records: For The Record

February 12, 2009

Tame that pile of unorganized paperwork through the year to optimize the horse and farm ownership experience.... Read More

Article

For the Record: Taxes and Recordkeeping

February 01, 2009

Tame that wild pile of unorganized paperwork throughout the year to optimize the horse and farm ownership experience.

Editor's Note: This article provides general information only, and readers should consult with a... Read More

Article

Horse Council Offers Tax Tips

January 27, 2009

The American Horse Council (AHC) is offering extensive tax information that can influence your equine business tax returns. For 40 years, the American Horse Council has provided the horse industry with tax information through the "Tax Bulletin,"... Read More

Article

California Vet Service Tax Fails; Might Resurface

December 03, 2008

Last week, the California State Senate and Assembly rejected Gov. Arnold Schwarzenegger's proposal to balance the budget, which included the addition of a sales tax to veterinary... Read More

Article

California Governor Proposes Tax on Veterinary Services

November 26, 2008

In an effort to raise funds for the state, California Gov. Arnold Schwarzenegger recently announced his proposal to expand sales tax to include veterinary services. If this proposal passes, the governor estimated $357 million in increased revenu... Read More

Article

Washington Hearings Tackle Horse Farm Tax Issues

November 10, 2008

Operators of horse boarding and training farms in Washington state are poised to pack Department of Revenue hearing chambers Nov. 13 to convince the agency that their businesses should be included in statutory definitions... Read More

Article

Hobby or Business? Defining your Equine Venture

August 31, 2008

According to the Internal Revenue Service, if your main objective is to make a profit, then you are considered a legitimate business.

Many people involved within the horse industry often do not view their small hors... Read More

Article

Australia's Equine Industry Won't Receive Influenza Bill

June 11, 2008

An Australian government official announced today that the horse industry would not be asked to pay for the expenses associated with last year's outbreak of equine influenza. According to the Read More

Article

Keeping Records

June 02, 2008

At some point, in response to an audit, for example, it may be necessary to prove to the IRS that your horse activity really is a business entitled to deductions for business expenditures. You also may be required to prove the level of your participa... Read More

Article

Equine Law Conference: Review of Pending Horse Bills

May 02, 2008

American Horse Council president James J. Hickey Jr. briefed attorneys May 1 on legislative actions in Congress during the 23rd National Conference on Equine Law, but he also handicapped the immediate passage chances of a couple of them as... Read More

Article

Equine Law Conference: Estate Planning for Horsemen

May 01, 2008

An attorney specializing in estate planning says now is a good time for horsemen and others to establish tax-friendly programs that pass along assets to descendants--but warned that time was of the essence in organizing such efforts.... Read More