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April 17, 2006
Horse Deduction
On tax day, an appropriate post on the deductibility of horses and horse equipment.
Legitimate horse businesses (according to the IRS) seem to be: breeding operations, equine camps and workshops, boarding, riding lessons with a horse that’s not your personal pleasure horse and horse racing. Apparently if you give occassional lessons to the neighbor kids on your own personal pleasure horse, it’s not advisable to deduct your horse expenses from your personal income tax.
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Posted on April 17, 2006 04:11 PM by horse 405.
Filed in Horse Blog under horse equipment.
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