HORSEPLOP.COM
General Category => Harness Racing => Topic started by: Dingus on November 26, 2023, 05:53:12 PM
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Heard something about IRS lien sale
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Someone said something about an agisters lien, but I haven't seen anything documented, so I call it a rumor at this point. There's also other types of lien's available as it relates to horses depending on the circumstances.
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I heard will be on ongait.com
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I heard will be on ongait.com
60 or more horses going on ongait tomorrow in first phase dispersal sale
Some very nice
Very nice horses.
Nice Aussie horses. Also
Few Indy breds. Nice brood mares in foal to nice stallions
Great buy. For those in market for a horse
Just bought to many horses too fast
Simple as that. No other reason
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60 or more horses going on ongait tomorrow in first phase dispersal sale
Some very nice
Very nice horses.
Nice Aussie horses.
Great buy. For those in market for a horse
Just bought to many horses too fast
Simple as that. No other reason
Will You, Him and Erv still be teamed up or is that all his horses
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Will You, Him and Erv still be teamed up or is that all his horses
We still together on a lot of horses not selling
Only one of mine that we have together is selling
It’s not a give away sale.
If our prices are not met.
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Heard something about IRS lien sale
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We'll see or hear the real truth soon but big trainer from Ohio said IRS seized all accounts. Whatever the reason or reasons not my business just passing along what I heard. IRS controlls this sale so everything goes NO reserves. I'm sure someone will blast this post but dealing with truth and facts isn't the strong suit. Truth always comes out sometimes takes a while.
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IRS got overhiser by the nuts. Plus the fact that Erv is about to go down really killed everything. It’s about time someone stopped this thief.
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60 or more horses going on ongait tomorrow in first phase dispersal sale
Some very nice
Very nice horses.
Nice Aussie horses. Also
Few Indy breds. Nice brood mares in foal to nice stallions
Great buy. For those in market for a horse
Just bought to many horses too fast
Simple as that. No other reason
Sugar coat it if you must, but it’s indeed the IRS, and this will now lead to his partners finances involving the harness horses being checked. I’ve heard one from Illinois, didn’t get a name lt could be Erv not sure but Erv has other issues to deal with soon.
Believe it or not but I won’t elaborate any further.
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In the last couple of weeks, they bought many back on Ongait. and not the higher-end ones so the situation can't be that bad.
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In the last couple of weeks, they bought many back on Ongait. and not the higher-end ones so the situation can't be that bad.
I SAW THEY KEEP BUYING BACK THEIR HORSES. IRS DOESNT CARE HOW OR WHERE YOU GET THE MONEY TO PAY THE LIEN.
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I SAW THEY KEEP BUYING BACK THEIR HORSES. IRS DOESNT CARE HOW OR WHERE YOU GET THE MONEY TO PAY THE LIEN.
THERE IS NO LIEN ON ANYTHING OF HIS,,NOTHIN
HORSES ,,HOMES CARS BOATS BIKES OR SKATES ..
WIDELY OVER BLOWN AS USUAL ON PLOPS
THE MAN STILL IS KEEPING OVER 100 HORSES 2 AND 3 YR OLDS MOSTLY ..\\
He had over 200 horses
the man is learning to sell overnights and older horses since hoosier is closing for 3 months and kentucky tracks are closed ...
just a dispersal like i said all along
everything on here is bullshit
un less any one can post liens the government has on him ,(,PROOF )
refrane from texting thks in advance..
LARRY BIRD BRAIN HATES ERV SO HE DONT COUNT ngc3 ngc3 ngc3 ngc3
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LARRY BIRD BRAIN HATES ERV SO HE DONT COUNT ngc3 ngc3 ngc3 ngc3
Bird Brain seems to hate everyone, and puts out accusations without providing any back up.
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We still together on a lot of horses not selling
Only one of mine that we have together is selling
It’s not a give away sale.
If our prices are not met.
What's your reserve on Frankie ? Gotta be big ... Track record holder and all. Those Tellitlikeitis colts have wicked brushes.
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We still together on a lot of horses not selling
Only one of mine that we have together is selling
It’s not a give away sale.
If our prices are not met.
what happened to Frankie after he won in 48
been hot trash since
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Bird Brain seems to hate everyone, and puts out accusations without providing any back up.
I actually don’t hate anyone. I talked to Erv the other night when he was here. Only thing I dislike are horse killers or abusers. Erv has gotten away with a lot of bs over the years starting with that one horse he said was a mare and after the horse turned 6 years old and made a million dollars, it was discovered it was a colt. Never gave back a penny and got to race against fillies and mares for four years and accumulated over a million dollars. The is no way Erv didn’t know that wasn’t a colt. He is way too smart of a horseman. It’s bullshit like that why I don’t care for Erv, but I don’t hate him.
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What's your reserve on Frankie ? Gotta be big ... Track record holder and all. Those Tellitlikeitis colts have wicked brushes.
no reserve
bid your best
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actually larry that colt racing against mares was ok and legit
apparently the colt identified as female so there was nothing anybody could do
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i guess dougie is learning its hard to buy your way into the winners circle
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I actually don’t hate anyone. I talked to Erv the other night when he was here. Only thing I dislike are horse killers or abusers. Erv has gotten away with a lot of bs over the years starting with that one horse he said was a mare and after the horse turned 6 years old and made a million dollars, it was discovered it was a colt. Never gave back a penny and got to race against fillies and mares for four years and accumulated over a million dollars. The is no way Erv didn’t know that wasn’t a colt. He is way too smart of a horseman. It’s bullshit like that why I don’t care for Erv, but I don’t hate him.
Ok. You’re forgiven.
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Erv has gotten away with a lot of bs over the years starting with that one horse he said was a mare and after the horse turned 6 years old and made a million dollars, it was discovered it was a colt. Never gave back a penny and got to race against fillies and mares for four years and accumulated over a million dollars. The is no way Erv didn’t know that wasn’t a colt.
FYI
Martha Maxine $731,079 is the equine referred to above.
It was bought or claimed eleven times in it's career.
It raced 14 times in filly/mare races before Erv was ever involved.
It went through the Bal. Park spit box at least 4 times from it's 4 wins before Erv was ever involved.
Mike Perrin was the trainer for those first 14 starts.
Marthe Maxine had all the outward looks of a female.
A vagina etc. but no penis.
No one knew it had a hidden testicle till it tested possitive for testosterone.
Google "Martha Maxine" for the story.
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FYI
Martha Maxine $731,079 is the equine referred to above.
It was bought or claimed eleven times in it's career.
It raced 14 times in filly/mare races before Erv was ever involved.
It went through the Bal. Park spit box at least 4 times from it's 4 wins before Erv was ever involved.
Mike Perrin was the trainer for those first 14 starts.
Marthe Maxine had all the outward looks of a female.
A vagina etc. but no penis.
No one knew it had a hidden testicle till it tested possitive for testosterone.
Google "Martha Maxine" for the story.
I THOUGHT MARTHA MAXINE WAS TRAINED BY ANDY AND JULIE AT BALMORAL BUT I GUESS MY MEMORY HAS GOTTEN REALLY BAD. HOWEVER, JUST BECAUSE THE FIRST TRAINER GOT AWAY WITH IT DOES NOT MEAN ERV OR ANY OF THE OTHERS SHOULD OF GOTTEN AWAY WITH IT EITHER. ALL OF THE PURSE EARNINGS FROM DAY ONE SHOULD OF BEEN FORFEITED. IN MY OPINION, ERV IS A CHEATER LIKE ALL OF THE OTHER BIG STABLES. BUT NOW THAT OVERHISER HAS WOKEN UP AND SMELLED THE COFFEE, OLE ERV COULD BE LOOKING FOR NEW SUCKERS, I MEAN INVESTORS LIKE LUCPARK. YOU TALK ABOUT SOMEONE BUYING ROYALLY BRED YEARLINGS LAST YEAR AND GETTING ZERO RESULTS, THAT WOULD BE MR ERV MILLER THIS YEAR!
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I THOUGHT MARTHA MAXINE WAS TRAINED BY ANDY AND JULIE AT BALMORAL BUT I GUESS MY MEMORY HAS GOTTEN REALLY BAD. HOWEVER, JUST BECAUSE THE FIRST TRAINER GOT AWAY WITH IT DOES NOT MEAN ERV OR ANY OF THE OTHERS SHOULD OF GOTTEN AWAY WITH IT EITHER. ALL OF THE PURSE EARNINGS FROM DAY ONE SHOULD OF BEEN FORFEITED. IN MY OPINION, ERV IS A CHEATER LIKE ALL OF THE OTHER BIG STABLES. BUT NOW THAT OVERHISER HAS WOKEN UP AND SMELLED THE COFFEE, OLE ERV COULD BE LOOKING FOR NEW SUCKERS, I MEAN INVESTORS LIKE LUCPARK. YOU TALK ABOUT SOMEONE BUYING ROYALLY BRED YEARLINGS LAST YEAR AND GETTING ZERO RESULTS, THAT WOULD BE MR ERV MILLER THIS YEAR!
Had to be disappointing. Say it's a hobby all you want...people want to win. Might not be all about the money, but no one likes losing! tmbz1
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Had to be disappointing. Say it's a hobby all you want...people want to win. Might not be all about the money, but no one likes losing! tmbz1
GREAT POST. THATS EXACTLY WHAT ODDS ON DANA USED TO SAY IN CHICAGO WHEN ROBIN WAS TRAINING HIS HORSES. I MEAN HE PUT OUT MILLIONS AND THEN WOULD GET SMOKED BY RUCKERS 10K NEW CLAIMER AND DANA WOULD SAY ITS NOT A BIG DEAL OR ITS NOT ABOUT THE MONEY. YEAH SURE SOMETHING LIKE 12 MILLION DOLLARS LATER DANA FIRED ROBIN AND WENT TO ALL OF THE CHEATERS BECAUSE EXACTLY WHAT YOU SAID, THEY WANT TO WIN.
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It can be a hobby
And still everyone wants to win
What’s wrong with that
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That's my point. You always claim it's a hobby when the horses are losing and now you say this. I agree it might not be about the money but it is about wanting to win. So don't use the cop out it's only a hobby when they are getting smoked! tmbz1
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That's my point. You always claim it's a hobby when the horses are losing and now you say this. I agree it might not be about the money but it is about wanting to win. So don't use the cop out it's only a hobby when they are getting smoked! tmbz1
I never bitch when I lose
I pout
But never bitch
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I never bitch when I lose
I pout
But never bitch
Racing horses is a very humbling experience. You can be on top of the world and everything is as smooth as silk and then it can come crashing down before your eyes and you can't do a damn thing about it except get out or try again.
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That's my point. You always claim it's a hobby when the horses are losing and now you say this. I agree it might not be about the money but it is about wanting to win. So don't use the cop out it's only a hobby when they are getting smoked! tmbz1
Just don’t tell the IRS it’s a hobby.
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what happened to Frankie after he won in 48
been hot trash since
HES HAD AN AGGRAVATING MINOR ABCESS ..
THATS TAKING FOR EVER TO HEAL
THATS FACT
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I actually don’t hate anyone. I talked to Erv the other night when he was here. Only thing I dislike are horse killers or abusers. Erv has gotten away with a lot of bs over the years starting with that one horse he said was a mare and after the horse turned 6 years old and made a million dollars, it was discovered it was a colt. Never gave back a penny and got to race against fillies and mares for four years and accumulated over a million dollars. The is no way Erv didn’t know that wasn’t a colt. He is way too smart of a horseman. It’s bullshit like that why I don’t care for Erv, but I don’t hate him.
So maybe the horse was a COLT that identified as a MARE?
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So maybe the horse was a COLT that identified as a MARE?
LOL
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DO NOT KNOW THESE FOLKS AND ONLY KNOW THEY PURCHASED MANY HORSES AND IT IS POSSIBLE THAT IT IS THE END OF THE YEAR AND THE OWNER DECIDED TO SELL AT A LOSS IN ORDER TO GENERATE TAX LOSSES THAT CAN BE TAKEN THIS YEAR---MANY OF THESE LOSSES IF LESS THAN 6 MONTHS CAN BE TAKEN DOLLAR FOR DOLLAR AGAINST ORDINARY INCOME. WHY CARRY THESE OVER IF A TAX LOSS CAN BE CLAIMED IN 2023 AND SAVE THESE FOLKS BIG DOLLARS OFF THE 2023 RETURN.
I DO NOT KNOW THEIR SITUATION OR PARTICULARS BUT A TAX LOSS IS EQUIVALENT TO POSITIVE CASH FLOW IF IT DOES IN FACT REDUCE THE TAX LIABILITY INSTANTLY. MANY OF THESE FOLKS HAVE TAX ATTORNEYS POINTING OUT DIRECTIONS TO SAVE $$$$ THIS YEAR.
MANY YEARLINGS CAN BE EXPENSED ---100% IN 2023 IF PURCHASED IN 2023 THIS IS A SECTION 179 WRITEOFF. RACEHORSES CAN BE EXPENSED IF OWNED LESS THAN 6 MONTHS. OVER 6 MONTHS IT BECOMES A LONG TERM CAPITAL GAIN OR LOSS WHICH DOES NOT HELP AS MUCH AS THE SHORT TERM.
JUST A THOUGHT OF WHY MANY FOLKS SELL AT YEAR END.
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DO NOT KNOW THESE FOLKS AND ONLY KNOW THEY PURCHASED MANY HORSES AND IT IS POSSIBLE THAT IT IS THE END OF THE YEAR AND THE OWNER DECIDED TO SELL AT A LOSS IN ORDER TO GENERATE TAX LOSSES THAT CAN BE TAKEN THIS YEAR---MANY OF THESE LOSSES IF LESS THAN 6 MONTHS CAN BE TAKEN DOLLAR FOR DOLLAR AGAINST ORDINARY INCOME. WHY CARRY THESE OVER IF A TAX LOSS CAN BE CLAIMED IN 2023 AND SAVE THESE FOLKS BIG DOLLARS OFF THE 2023 RETURN.
I DO NOT KNOW THEIR SITUATION OR PARTICULARS BUT A TAX LOSS IS EQUIVALENT TO POSITIVE CASH FLOW IF IT DOES IN FACT REDUCE THE TAX LIABILITY INSTANTLY. MANY OF THESE FOLKS HAVE TAX ATTORNEYS POINTING OUT DIRECTIONS TO SAVE $$$$ THIS YEAR.
MANY YEARLINGS CAN BE EXPENSED ---100% IN 2023 IF PURCHASED IN 2023 THIS IS A SECTION 179 WRITEOFF. RACEHORSES CAN BE EXPENSED IF OWNED LESS THAN 6 MONTHS. OVER 6 MONTHS IT BECOMES A LONG TERM CAPITAL GAIN OR LOSS WHICH DOES NOT HELP AS MUCH AS THE SHORT TERM.
JUST A THOUGHT OF WHY MANY FOLKS SELL AT YEAR END.
Thanks counselor. As in this case, overhiser and lucPark lost their proverbial asses this year. For the money they spent versus money they took in, let’s just say it wasn’t a pretty picture
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MANY BROKERAGE HOUSES PUT TOGETHER TAX PACKAGES USING HORSES AS THEIR MAIN INVESTMENT SINCE THE TAX LAWS ARE SO GENEROUS FOR HORSE RACING.
IN THE OLD DAYS, MANY DEALS SUCH AS ALMAHURST FARMS, SARATOGA STANDARDBREDS, LPG STANDARDBREDS, ETC. WERE PUT TOGETHER WITH THE HOPE OF A PROFIT BUT AT WORST CASE A TAX LOSS WHICH IN ESSENCE IS POSITIVE CASH FLOW SINCE THESE WRITEOFFS CAN BE TAKEN AGAINST ORDINARY INCOME FROM THEIR OTHER CAREERS OR INVESTMENTS.
THESE TAX LOSSES GENERALY GENERATED HUGE CASH FOW SINCE TAX PAYMENTS WERE REFUNDED AS WELL AS LOSSES THAT COULD BE CARRIED BACK THREE YEARS AND FORWARD FOREVER. SMART MEN---AS EVIDENCED BY PRSIDENT TRUMP PAY VERY LITTLE IN TAXES. I BELIEVE THEY CLAIM PRESIDENT TRUMP ONLY PAID $750 IN TAX A FEW YEARS AGO AND I AM SURE HIS ACCOUNTANTS ARE THE BEST THERE IS.
MONEY GOES TO MONEY!
WHAT BETTER WRITEOFF IS THERE THAN HORSES WITH THE DEPRECIATION AND BONUS DEPRECIATION AS WELL AS THE SECTION 179. WITH A GREAT ACCOUNTANT THE BUSINESS CAN MAKE SENSE SINCE YOUR CASH FLOW IS THE WRITEOFFS GENERATING REFUNDS OR TAX LOSSES.
JUST A THOUGHT.
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i don't think he needs more write-offs. With what he paid for these horses, and then adding in the stakes payments, then the training bills ++++++, HE HAD TO HAVE GONE FOR HIS BALLS
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I've been doing this a long time. What I learned is that tax laws are very fluid, always changing, and certainly not simple. It's easy to say write off this, depreciate that, offset this, and so on. The Wall St. deals of the 80's and ending around 1990 were designed and structured in a very specific way to -- yes -- take advantage of then current tax laws (even though they were structured as LP's; under then current tax laws, the tax benefits were not limited to "passive" categorization). Almahurst, Saratoga Standardbreds, Dreamaire, and others were the well known ones. Some of these were very similar to the infamous real estate syndications and partnerships, which offered virtually 100% deduction in year one. Some of them even went further and offered a tax credit. While a deduction is valuable, a credit is a dollar for dollar reduction (not deduction) of the tax liability you owe. LPG was Lou Guida and while that was designed similarly to the others, he truly wanted to be King and was truly motivated to dominate the sport and make money.
Most of that, if not all, changed and ended with the TRA of 1986 and the OBRA of 1990. Today's tax laws are far more different. I don't know about this guy's situation, but it's rare to see someone buy a horse for big money, have him be a flop or close to it, and then turn around and sell him by calendar year-end. Sure you may get some benefit, but you still took a big hit.
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Thanks counselor. As in this case, overhiser and lucPark lost their proverbial asses this year. For the money they spent versus money they took in, let’s just say it wasn’t a pretty picture
The jealousy of the haves and the have nots continues on horseplop!
The life of a back seat account continues!
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I PERSONALLY DO OT KNOW THIS FELLA NOR WHT HE DOES TO GENERATE INCOME BUT IT IS POSSIBLE THAT THE MAN IS VERY SUCCESSFUL AND THESE WRITEOFFS COULD IN FACT OFFSET INCOME EARNED IN A DIFFERENT VOCATION OR BUSINESS. AS YOU ARE AWARE THE SECTION 179 OF THE IRS CODE IS VERY GENEROUS AND YOU CAN BASICALLY DEDUCT MORE THAT THE COST OF THE HORSE.
I AM NOT AN ACCOUNT NOT CLAIM TO BE BUT TRUTHFULLY, I TRULY BELIEVE THE MASS LIQUIDATION HAS A PURPOSE. WHAT IT IS I DO NOT KNOW BUT THERE IS A SENSE TO THE MADNESS.
TRUTHFULLY, THIS FELLAS LOSES ARE LUNCH MONEY TO SO MANY. WE SOMETIMES FORGET THAT THE MONEY TO BUY A HORSE IS NOTHNG COMPARED TO MANY WEALTHY INDIVIDUALS.
I DO NOT THINK THIS IS A FIRESALE----I BELEIVE IT IS YEAR END TAX STRATEGIES AND ESTATE PLANNING. IT IS TOO ORGANIZED TO BE A PANIC SELL
EITHER WAY I WISH THIS FELLA THE BEST OF LUCK FOR WHATEVER REASON HE IS MOVING SO MUCH STOCK. THERE IS ALWAYS A METHOD TO THE MADNESS---MAYBE HE IS JUST ANXIOUS TO CLEAN UP THE BOOKS.
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I PERSONALLY DO OT KNOW THIS FELLA NOR WHT HE DOES TO GENERATE INCOME BUT IT IS POSSIBLE THAT THE MAN IS VERY SUCCESSFUL AND THESE WRITEOFFS COULD IN FACT OFFSET INCOME EARNED IN A DIFFERENT VOCATION OR BUSINESS. AS YOU ARE AWARE THE SECTION 179 OF THE IRS CODE IS VERY GENEROUS AND YOU CAN BASICALLY DEDUCT MORE THAT THE COST OF THE HORSE.
I AM NOT AN ACCOUNT NOT CLAIM TO BE BUT TRUTHFULLY, I TRULY BELIEVE THE MASS LIQUIDATION HAS A PURPOSE. WHAT IT IS I DO NOT KNOW BUT THERE IS A SENSE TO THE MADNESS.
TRUTHFULLY, THIS FELLAS LOSES ARE LUNCH MONEY TO SO MANY. WE SOMETIMES FORGET THAT THE MONEY TO BUY A HORSE IS NOTHNG COMPARED TO MANY WEALTHY INDIVIDUALS.
I DO NOT THINK THIS IS A FIRESALE----I BELEIVE IT IS YEAR END TAX STRATEGIES AND ESTATE PLANNING. IT IS TOO ORGANIZED TO BE A PANIC SELL
EITHER WAY I WISH THIS FELLA THE BEST OF LUCK FOR WHATEVER REASON HE IS MOVING SO MUCH STOCK. THERE IS ALWAYS A METHOD TO THE MADNESS---MAYBE HE IS JUST ANXIOUS TO CLEAN UP THE BOOKS.
To answer a few of the questions. Depending upon how aggressive his depreciation schedules are, may play a big role into a mass liquidation of the bloodstock. Also it me be a simple sell down to focus on a smaller stable, stakes horses only, or to show a great loss if horses were to sell under estimated values.
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you can be sure they were sold at a significant loss