Recent News for Business Management
Article
Limitation of Liability
August 01, 1998
Horses often seem to be accidents waiting to happen, and most horse owners can recount at least one horror story that starts with: "You aren't going to believe this, but..." Less apparent, but equally true, is the realization that horse... Read More
Article
Thoroughbred Mistaken Identity Case Settled
April 03, 1998
Trainer Bret Calhoun of Grand Prairie, Texas, and officials from the Keeneland sales company have reached a settlement regarding a misidentified racehorse that was sold last fall at public auction, according to reports in the... Read More
Article
New International Colored Sporthorse Registry
April 03, 1998
International Sport Horses of Color, “SHOC,” is a new equine color by design registry, registering sport horses of all breeds and colors, including, spotted and solid colors such as Pinto, Palomino, Cremello, Buckskin, Bay,... Read More
Article
Should You Insure?
April 01, 1998
How much can you afford to lose? That's the crux of any insurance question and it's no exception for those who transport their horses to shows tracks breeding facilities sales barns living history festivals vacation areas parks and so... Read More
Article
Foal Sharing
February 01, 1998
Foal sharing, by definition, is an agreement under which a mare owner puts up the use of a mare while the stallion owner puts up the use of a season. Together, the two partners own the resulting foal with no currency having changed hands for a stud... Read More
Article
The Purchase Exam
June 01, 1997
As the name suggests, purchase exams are an exploratory process designed to evaluate the physical condition of a horse before you commit to a purchase. It is performed by a veterinarian and is, before anything else, a comprehensive physical... Read More
Article
How Do You Own Your Business?
April 01, 1997
A question often put to attorneys is: "Should I incorporate my (fill in the blank) business?" The answer depends on several factors, and involves weighing the advantages and disadvantages of the various forms of ownership that can be chosen for ... Read More
Article
Using Equine Activity Losses To Achieve Overall Tax Savings
February 01, 1997
Most performance horse owners begin their horse ownership and performance horse activities for purposes other than pecuniary (monetary) gain. Nevertheless, many hope eventually to turn a profit as their horse progresses in skill or as their... Read More
Article
Estate Planning
September 01, 1996
What happens to your horse in the time between your death and probate of your will? When your will actually goes through the probate process, will your wishes regarding care of your horse be enforceable? Will they be honored by the probate court?... Read More
Article
Like-Kind Exchanges
July 01, 1996
When a taxpayer sells a performance horse at a profit, generally that realized profit is recognized and subject to tax as either ordinary income or capital gain. The like-kind exchange rules provide a special exception that allows taxpayers to avoid ... Read More
Article
Taxes and the Home Office
January 01, 1996
Because the IRS criteria for claiming a home-office deduction are so specific, and because the pros and cons of a home-office deduction vary by each individual situation... Read More
