The American Horse Council (AHC) will soon roll out the 2019 edition of the AHC Tax Handbook, an important reference book for informing members of the horse industry about major changes brought about by landmark tax reform legislation, the Tax Cuts and Jobs Act (“TCJA”) of 2017. This statute rewrote key provisions of the U.S. […]
A number of changes went into effect this year as a result of President Donald Trump signing the Tax Cuts and Jobs Act of 2017. Several of those changes could have an impact on many in the horse industry.
A federal judge recently ruled in favor of Center Ranch in a tax case, declaring that the Centerville, Texas-based cattle, hay and cutting horse operation was a for-profit business in spite of monetary losses. Owned by Finis Welch, the 8,700-acre ranch is home to Equi-Stat Elite $2 Million Sire Woody Be Tuff, whose progeny include […]