On the other hand, a $77,000 tax deduction for a dressage horse may be politically troubling in a country where the 2010 median household income was $49,000.
On the other hand, a $77,000 tax deduction for a dressage horse may be politically troubling in a country where the 2010 median household income was $49,000.
By Ana Grarian
50+ hippy chick from NY - STATE - and yes, I'm sensitive about that.
I’m curious how you deduct for a horse. Did they declare this a business? A business can deduct almost anything, in fact I’m quite frugal when it comes to that because I think one should be honest. What an antique that philosophy is! I’m sorry, horses are 99.9% of the time a HOBBY.
This horse was a contender for the Olympics – so yes a business. But still a $77k loss for their share (1/3)of care and feeding? Are they bedding him with hand plucked hummingbird feathers?
Hmmmm – I wonder what they were paying their household help at the time?
Maybe they WERE the feed?
Olympics for horses?
He was (is?) a dressage horse.
So he wore a dress made out of spices? (Dress sage?) Kidding! Not quite sure what they are. Will Google tomorrow.
Looked it up on Google. Kind of like the trials they put sheep dogs through, in a way, also like diving where the judges give scores for each move.