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Who can convince the forum that peeps buying these animals actually earned their money?
bonanza looked a lot like maverick only at half the costouch !!overpaying for siblings will send you to the poor house. especially colts
WHY DOES THIS MATTER TO U ..IM ASKING FOR A FRIEND
SECTION 179 APPLIES TO ALL PURCHASES.....WHE THER IT IS $1 DOLLAR OR UP TO $1,050,000. PERIOD. THE INVESTMENT OFFSETS ORDINARY INCOME UP TO $1,050,000. IF YOU PURCHASE A HORSE AND FINANCE IT WITH $1 DOWN AND PAYMENTS OVER 3 YEARS YOU CAN STILL EXPENSE THE ENTIRE PURCHASE EVEN IF YOU ONLY PUT $1 DOWN.YOU DO NOT HAVE TO BE RICH---FOR THIS TO BENEFIT.AS A SIDE NOTE MY FATHER WAS A TRUCK DRIVER AND GOD REST HIS SOUL PASSED AWAY IN 1973!!!! THEREFORE, I HAVE NEVER NOR WILL I EVER LIVE OFF OF "DADDYS" MONEY!!!!THIS STRATEGY WORKS FOR EVERYONE THAT IS TRYING TO BETTER THEMSELVES THRU TAX LAWS MEANT FOR THE RICH BUT ALL OF US CAN UTILIZE THEM TO HELP OURSELVES AND OUR FAMILIES!YOU CAN USE THIS SAME APPROACH ON TRUCKS, TRAILERS, EQUIPMENT, COMPUTERS, LAW MOWERS, FARM EQUIPMENT, ETC. THIS STRATEGY CAN BE USED FOR ALL---RICH OR POOR AND AS LITTLE AS $1 TO $1,050,000!!
wealthy people wish to win races and have massive income they need to write offpurses higher than ever, OHSS and KYSS
I can understand that they want to win races. That's an ego thing. What I don't understand is that there are much smarter options to obtain a write off. My takeaway is that the tax laws really haven't changed anything. People will always overpay to feed their ego. Now they can just justify it by paying more. Breeders and stakes programs are the beneficiaries.
I am all for using every single benefit of the tax system to your advantage, but when you bring horse racing into the conversation, I think it is smarter to opt out - it will always be the wiser financial choice. Write offs or not horse racing is for financial fools who are wasting time waiting for god.As for the other items you mentioned, you are spot on.