Breeding Contract Check-Up

by Julie I. Fershtman, Attorney at Law

Breeding season begins soon. Stallion managers and owners can plan ahead by reassessing and, where warranted, updating their contracts. How? Here are a few suggestions.

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The Importance of Advertising From the IRS’ Perspective

In any IRS audit of horse activities, one issue will be the extent to which the taxpayer has advertised horses for sale. Advertising is considered to be an effective type of promotion to attract customers, and if you do not advertise or otherwise promote the sale of your horses, the IRS will argue that you are not engaged in a business because you don’t care about selling your product.

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