The Tax Court held that a married couple who engaged in a cattle and horse breeding activity were not engaged in a business, despite the full-time nature of the venture. The case was Garbini v. Commissioner IRS ....

Sometimes a farm, livestock or horse activity may be closely connected to one’s principal occupation, with certain tax advantages. If two activities are treated as one, deductions and income from each activity can...

People in the livestock and horse industries are already hard pressed with IRS audits and difficult rules requiring the showing of the intention to make a profit despite ongoing losses. The IRS Commissioner has said...

Hilary Clayton Seminar "Assessing Equine Conformation and Biomechanics" March 24-25, 2012 Hilltop Farm and the Mid-Atlantic Hanoverian Breeders Club (MAHB) are excited to be welcoming Dr. Hilary Clayton for a...

A recent case that seemed to rule correctly against a taxpayer was the tax court decision holding against Sandra J. Brannon of southwest Texas with regards to her quarter horse breeding activity.   The case also...

Otis and Alma Jordan of Amissville, Virginia persuaded the Tax Court that their horse racing and breeding activity was engaged in for profit. The couple lived on a 20-acre farm on which they constructed a new barn...

Stallion Syndicates have been a popular vehicle for people engaged in breeding activities for over 40 years. This is a mode of co-ownership that applies to all types of horses in all breeds. During the 1980's,...

A new Tax Court case, Blackwell v. Commissioner IRS involved taxpayers who were reasonably well qualified to engage in a horse breeding activity, and who convinced the court that they had the opportunity or the...

Under the IRS hobby loss rule if you have losses in connection with any farming activity, horses, livestock or crops, the IRS may suspect that the activity is engaged in as a hobby rather than a business,...

In a new Tax Court case, Richard and Delores Frimml of Luzerne, Iowa won on the question of whether their horse activity was to be treated as a business .  This underscores the fact that an unfavorable result at...