Simplify Taxes? Keep a record of it!
In racehorse operations, tax treatment is a critical topic. Can an owner continue to maintain a viable stable while sustaining massive losses? The ability to apply the stable operation’s losses to offset tax liability emanating from income derived through the owner’s work, labor, services and other investments is often a determinative factor.
Chris E. Wittstruck (20 January 2009 - Issue Number: 11)