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General Category => Harness Racing => Topic started by: augustaandy on October 04, 2021, 11:09:58 AM

Title: Lexington sale
Post by: augustaandy on October 04, 2021, 11:09:58 AM
big balloons this year, probably highest grossing Lexington sale ever

everyone is on their way there now if not there already

who will get the next Damien, Maverick or One Eight Hundred

Tuesday evening will make great theater
Title: Re: Lexington sale
Post by: COUNSELOR on October 04, 2021, 11:43:11 AM
IT WILL BE AN EXCITING WEEK AND THE OHIO BREDS WILL BREAK EVERY RECORD THERE EVER WAS FOR THE OHIO ELIGIBLES.   KENTUCKY WILL ALSO OFFER HUGE PRICES AS MANY OF THESE HAVE DUEL ELIGIBILITY.

I THINK THE PA, NY AND NJ BREDS WILL ALL SUFFER DUE TO THE MOVEMENT TO OHIO AND KENTUCKY.   THE CLOSE PROXIMITY OF OHIO AND KENTUCKY TRULY MAKE THESE ELIGIBLES A HOME RUN!  PLUS THESE STATES ARE BOTH ON THE UPSWING WHEREAS THE OTHER STATE PROGRAMS HAVE CHALLENGES.

BIG BUCKS!!  NEW RECORDS!!!!AND PERFECT TIMING WITH THE HOUSING AND STOCK MARKET BOOM!!!  HARRISBURG MAY NOT BE AS STRONG DUE TO THE MARKET CORRECTION THAT IS UPON US AND THE STATE BRED SIRES STAKES PROGRAMS IN THE NORTHEAST.

THE SELLERS IN KENTUCKY WILL BE REWARDED IMMENSELY!!  THERE WILL BE MANY THAT NEVER PAN OUT BUT THERE WILL BE MANY THAT TRULY ARE GOOD BUYS AND HOPEFULLY MAKE THE OWNERS/TRAINERS A NICE LIVING!!!

GOOD LUCK TO ALL OF THESE FOLKS THIS WEEK!
Title: Re: Lexington sale
Post by: augustaandy on October 04, 2021, 12:08:25 PM
Hanover Shoe brought their best yearlings to night 1 at Lexington. Many programs, especially KY and NJ, are on the upswing.

Chapter Seven's, Muscle Hill's and Walner's will all be in huge demand. 1st crop Tactical Landing will also be wanted, although as a 2 year old he was awful.

On the pacing side, the Downbytheseaside's will be in huge demand. Rich people have never been richer, and they will fight each other to overpay the 1st 2 sessions, and the last one. 
Title: Re: Lexington sale
Post by: Harnessfan902 on October 04, 2021, 11:07:20 PM
The sister to Hannalore will be a huge number.    Amazing looking filly but the mare has had all duds except one.     Time will tell.   Greenshoe or Maverick.
Title: Re: Lexington sale
Post by: augustaandy on October 05, 2021, 12:02:36 AM
one well-respected owner told me tonight, "I'll be looking to buy the nicest horses at reasonable prices Tuesday night"

I told him he would get NONE!

the biggest buyer at Tuesday night's sale will be the IRS

if someone has a huge amount of gains this year and lives in a high tax state and spends it, they can get a massive write-off

suddenly a 1 million dollar horse costs $500,000 out of pocket

too many people have far too much money this year and need write-offs

big balloons
Title: Re: Lexington sale
Post by: half round full swedge on October 05, 2021, 09:18:26 AM
Hanover Shoe brought their best yearlings to night 1 at Lexington. Many programs, especially KY and NJ, are on the upswing.

Chapter Seven's, Muscle Hill's and Walner's will all be in huge demand. 1st crop Tactical Landing will also be wanted, although as a 2 year old he was awful.

On the pacing side, the Downbytheseaside's will be in huge demand. Rich people have never been richer, and they will fight each other to overpay the 1st 2 sessions, and the last one.

Been overpaying for horses for years
Title: Re: Lexington sale
Post by: COUNSELOR on October 05, 2021, 11:29:04 AM
AGREED!!  THE SECTION 179 OF THE IRS CODE WILL MAKE SO MANY SO MUCH!!  HOW CAN YOU EXPENSE A HORSE ON THE DATE OF PURCHASE!!!  YOU CAN NOW!!!!

HUGE SAVINGS FOR THE WEALTHY AS WELL AS MANY COMPANIES!!!
Title: Re: Lexington sale
Post by: Mr_Ed on October 05, 2021, 12:34:48 PM
one well-respected owner told me tonight, "I'll be looking to buy the nicest horses at reasonable prices Tuesday night"

I told him he would get NONE!

the biggest buyer at Tuesday night's sale will be the IRS

if someone has a huge amount of gains this year and lives in a high tax state and spends it, they can get a massive write-off

suddenly a 1 million dollar horse costs $500,000 out of pocket

too many people have far too much money this year and need write-offs

big balloons

I'll agree far too many peeps have too much money/crypto.

However, please explain the above highlighted statement you wrote.

Thank you.
Title: Re: Lexington sale
Post by: augustaandy on October 05, 2021, 12:38:54 PM
https://ctba.com/race-horse-depreciation-extended/#:~:text=The%20provision%20allows%20taxpayers%20to%20depreciate%2C%20on%20a,into%20service%2C%20as%20opposed%20to%20a%20seven-year%20schedule.



The provision allows taxpayers to depreciate, on a three-year schedule, racehorses 24 months of age and younger when purchased and placed into service, as opposed to a seven-year schedule.
Title: Re: Lexington sale
Post by: Mr_Ed on October 05, 2021, 01:58:01 PM
https://ctba.com/race-horse-depreciation-extended/#:~:text=The%20provision%20allows%20taxpayers%20to%20depreciate%2C%20on%20a,into%20service%2C%20as%20opposed%20to%20a%20seven-year%20schedule.



The provision allows taxpayers to depreciate, on a three-year schedule, racehorses 24 months of age and younger when purchased and placed into service, as opposed to a seven-year schedule.

Thank you!!

 tmbz1
Title: Re: Lexington sale
Post by: horses first on October 05, 2021, 05:22:12 PM
Walner pulls a lot of Muscle Hill dollars away. There are just 44 M Hills in the sale so average may still stay high but there have been year over year 6 figure bust out of the star sire. 16 on the first day see how it goes. 2 new trot sires and 2 pace sires. Can see new highs on day 1 and see how things fall after.
Title: Re: Lexington sale
Post by: pickfourny on October 05, 2021, 05:38:56 PM
https://ctba.com/race-horse-depreciation-extended/#:~:text=The%20provision%20allows%20taxpayers%20to%20depreciate%2C%20on%20a,into%20service%2C%20as%20opposed%20to%20a%20seven-year%20schedule.



The provision allows taxpayers to depreciate, on a three-year schedule, racehorses 24 months of age and younger when purchased and placed into service, as opposed to a seven-year schedule.


What about 100% Bonus Depreciation in the first year of depreciation when considered to be placed in service? When the business "asset" is first eligible for depreciation, then 100% of the cost can be written off that year.

 
Title: Re: Lexington sale
Post by: cigar on October 05, 2021, 06:42:01 PM

What about 100% Bonus Depreciation in the first year of depreciation when considered to be placed in service? When the business "asset" is first eligible for depreciation, then 100% of the cost can be written off that year.

 
With all your knowledge and $$$$ Iím shocked you ainít got a horse or two in the hambo
Title: Re: Lexington sale
Post by: cigar on October 05, 2021, 06:51:25 PM
With all your knowledge and $$$$ Iím shocked you ainít got a horse or two in the hambo
Sorry comment was meant for pigeon Jim
Title: Re: Lexington sale
Post by: horses first on October 05, 2021, 07:48:31 PM
Sorry comment was meant for pigeon

Bird shit for brains Cigar what's up. Hawthorne is over and your done training your 4k claimers? Hambo, no learned long ago buying fillies were the better route. Did have a 4th in the BC. Thanks for chiming in.
Title: Re: Lexington sale
Post by: augustaandy on October 05, 2021, 08:06:25 PM
so far they aint loving those Tactical Landing's

$40,000

$40,000

$45,000

if people were planning on breeding to him next year, they may be scared away if this continues
Title: Re: Lexington sale
Post by: augustaandy on October 05, 2021, 08:08:43 PM
$35,000 Tactical Landing next, jeez
Title: Re: Lexington sale
Post by: horses first on October 05, 2021, 08:26:04 PM
69 in the sale and 13 today. Not good for sure I'm sure a couple will get bid up but looks like his offspring will have to prove it on the track. A Check Me Out sold for 160k seems light. #37 do a nice race mare Chezatter Hanover had a hard time selling at 30k.
Title: Re: Lexington sale
Post by: LUCPARK on October 05, 2021, 08:41:21 PM
$35,000 Tactical Landing next, jeez

my partner bought hip 13

we gonna try get 61,,

fingers crossed ,,love this colt


Dual eligibility.  Getting everyone to go in deep pockets
Title: Re: Lexington sale
Post by: Kole Hanover on October 05, 2021, 08:46:55 PM



  #61 is oddly named



 LARCENY
C, B, Always B Miki - Someomensomewhere




 Should have been named something like "Canary Loafers"

Title: Re: Lexington sale
Post by: Kole Hanover on October 05, 2021, 08:49:28 PM


  This one as an individual, with this pedigree- could go for any number

 

 50   ACCELERATE
C, B, Walner - All The Time
Title: Re: Lexington sale
Post by: LUCPARK on October 05, 2021, 08:50:48 PM
46!

Just sold half a Million
Title: Re: Lexington sale
Post by: tumbleweed on October 05, 2021, 09:06:01 PM
hey luc..i raced the mare of hip 13 her whole career. give me a shout
Title: Re: Lexington sale
Post by: LUCPARK on October 05, 2021, 09:12:39 PM
hey luc..i raced the mare of hip 13 her whole career. give me a shout

 tmbz1
Title: Re: Lexington sale
Post by: TimTimTimbo on October 05, 2021, 09:27:31 PM
What a beautiful Filly... $800,000
Title: Re: Lexington sale
Post by: LUCPARK on October 05, 2021, 09:30:18 PM
hey luc..i raced the mare of hip 13 her whole career. give me a shout

we stopped at 175

term stopped my guy at 175 ..

nice colt good luck to new owner ,,

imho best miki in sale
Title: Re: Lexington sale
Post by: TimTimTimbo on October 05, 2021, 10:35:14 PM
Greenshoe's brother goes under a buck and a half.


I guess they don't wanna get burned again
Title: Re: Lexington sale
Post by: Kole Hanover on October 05, 2021, 10:43:37 PM
Greenshoe's brother goes under a buck and a half.


I guess they don't wanna get burned again



  The Brother to Damien/Propulsion went for half a mill so maybe they got a deal lol

Title: Re: Lexington sale
Post by: horses first on October 06, 2021, 01:33:16 AM
2019 first day 154k average. 2021 1st day 161k. Indeed a new high.
Title: Re: Lexington sale
Post by: cigar on October 06, 2021, 09:31:41 AM
Sorry comment was meant for pigeon

Bird shit for brains Cigar what's up. Hawthorne is over and your done training your 4k claimers? Hambo, no learned long ago buying fillies were the better route. Did have a 4th in the BC. Thanks for chiming in.
Hey goof they all made more $$$$ than that thing you tried to race this year.
Did that horse that you have hit the board even once this year? Please you never did shit it was your partner and trainer you were the step child sitting in the corner getting them coffee, they cut you loose and you canít pick your nose let alone any breeding!!!! Now go get ready for day 2 of the sale get your abacus out and do some stats pigeon brains.
Title: Re: Lexington sale
Post by: horses first on October 06, 2021, 11:02:43 AM
Hey goof they all made more $$$$ than that thing you tried to race this year.
Did that horse that you have hit the board even once this year? Please you never did shit it was your partner and trainer you were the step child sitting in the corner getting them coffee, they cut you loose and you canít pick your nose let alone any breeding!!!! Now go get ready for day 2 of the sale get your abacus out and do some stats pigeon brains.
Shit for brains cigar or maybe just another screen name for a cancerous pos on this forum but your comment is interesting since you would never know which horse raced in the BC. Only one POS would know that so go sell some cars as your theory to your back seat on RNT.  Keep going on that 2.0mln lost from dad's inheritance...
Title: Re: Lexington sale
Post by: horses first on October 06, 2021, 11:20:07 AM
Cigar notice your the only one on this thread going off the rails. As usual whether it's you or the flock from cancer lp. You guys can't help yourself lol. Think you know everything and it's not even close. Only make yourself look foolish  and obviously jealous of people that played the yearling game for over 12 years whether hit or miss. That's what happens when one has a great day job. Whether you or your buddy feeding you needed an inheritance.
Title: Re: Lexington sale
Post by: cigar on October 06, 2021, 11:36:51 AM
Hey pigeon brains you doing a lot of typing might miss a trade no? Keep the abacus handy for day 2 we need a report  ngc3
Did that thing you had racing this year finish his last race yet? Been sometime now that stretch ainít that long tmbz1
Better call your old partner and ask for advice because they were the brains get him some Starbucks ngc3 and the horse that got 4th you were just along for the ride pigeon Jim.
Title: Re: Lexington sale
Post by: horses first on October 06, 2021, 12:15:59 PM
As your information is when given to you wrong again. My partner and I use the same pedigree firm and we are on board of our buys. Then it's the trainers job. What you mad bro I had one get a small check in a BC event....get over it. Yet you type the same thing three times now. Ask your buddy for better info because you know 1% of what your talking about. Can you even name the horse within the next minute or two? Where bought and how much we sold for after racing? Otherwise you know squat because either Luc didn't tell u or it's just another luc screen name. But this is Gene right? U must like being Luc's whipping boy? I think you may need to get a hobby because you sound kind of pathetic. I can care less if I had a bummer of a horse. All of us get them playing the yearling game. But I had a great day job so doesn't matter.
Title: Re: Lexington sale
Post by: cigar on October 06, 2021, 12:29:57 PM
I personally donít care what you had, you made a comment last year about one of my horses and how smart you are and that your horse would do this and that well now Iím just fucking your head up ainít I  ngc3 ngc3 ngc3
Donít care about any horse you had what you bought or will buy or your day time job you so remind us of all the time. Fact is you are a pigeon and always will be so says white. Now go get the abacus and give us updates on day 2. In the meantime I gotta go take a nap pigeon Jim.
Title: Re: Lexington sale
Post by: horses first on October 06, 2021, 12:51:31 PM
Nope never in my head. Setting facts straight which you dopes type falsehoods about others. You just make yourself look foolish when facts are set. Others see the foolishness and move on from topics or the site in general. You don't get it when you sit at a hold'em table looking who the fish is...when in reality your the fish. So Cigar if this is cigar or a guy with bi polar and 7 personalities your new name is Fish. Term loves the fish.
Title: Re: Lexington sale
Post by: Kole Hanover on October 06, 2021, 04:09:41 PM


 Rene is trading in his jailhouse colors for training colors again?
 
 His brother is still looking for a brotha!


 145   I'M AMUSED
F, B, Muscle Hill - Amuse's   DANIELLE HENRI, Saint Esprit, QC, Canada
Title: Re: Lexington sale
Post by: jupiter on October 06, 2021, 05:42:29 PM
I hope they eat all that they buy, they are a cancer on our planet.
Title: Re: Lexington sale
Post by: LUCPARK on October 06, 2021, 05:48:39 PM
Good day. Today

Snatched a piece of a Miki
Title: Re: Lexington sale
Post by: Kole Hanover on October 06, 2021, 06:27:07 PM
Good day. Today

Snatched a piece of a Miki


 Did you get the hung piece you guys are always chasin'?




 I think Rene just purchased this one to let everyone know he isn't fazed:
 Hip #145   name: I'M AMUSED
Title: Re: Lexington sale
Post by: Kole Hanover on October 06, 2021, 06:29:37 PM



 There are some bridge jumpers going all in on Tactical Landing, hopefully he passes on the traits from his 3 year old year, not his genes of the 2 year old year


 doesn't work that way?
Title: Re: Lexington sale
Post by: cigar on October 06, 2021, 07:20:31 PM
Pigeon Jim with his day 2 abacus update coming soon
Followed by
Pigeon Jim day job
And
Pigeon Jimís my little pony stories
And to complete the update we get
Pigeon Jimís expertise comments on the muscle hills babies
Followed by pigeon Jimís I bred my mare to a donkey theory

Sponsored tonight by
Pigeon Jimís stocks and bonds just $5 per trade
Title: Re: Lexington sale
Post by: augustaandy on October 06, 2021, 08:17:32 PM


 There are some bridge jumpers going all in on Tactical Landing, hopefully he passes on the traits from his 3 year old year, not his genes of the 2 year old year


 doesn't work that way?



out of the sires selling the most yearlings, Tactical Landing's average prices right now are at the bottom of the table

some with only a few sold are lower

huge prices for the Walner's

Muscle Hill's are down and lots of stallion shares of his are in the Harrisburg Mixed Sale
Title: Re: Lexington sale
Post by: horses first on October 06, 2021, 09:09:52 PM
Day 2 up 11k at 86k vs 2019 75k.

Yes Cigar tried to bred my mare to a donkey but your lab results on your semen cam back they advised nobody should be breeding to your chromosome. After generations of inbreeding now I understand
Title: Re: Lexington sale
Post by: Kole Hanover on October 06, 2021, 09:12:58 PM


out of the sires selling the most yearlings, Tactical Landing's average prices right now are at the bottom of the table

some with only a few sold are lower

huge prices for the Walner's

Muscle Hill's are down and lots of stallion shares of his are in the Harrisburg Mixed Sale


 Yah they will be nothing like the Walners, Mr Jacobs been investing his Walner money into more Walner babies & he is a great guy, the game needs more guys like he & less like HT
Title: Re: Lexington sale
Post by: PIGLAND on October 06, 2021, 09:21:40 PM
drug trainers bought most of these horses
Title: Re: Lexington sale
Post by: LUCPARK on October 06, 2021, 09:29:34 PM
drug trainers bought most of these horses

Not really. 

Good people with a lot of extra cash

I wish them all luck.




Title: Re: Lexington sale
Post by: cigar on October 06, 2021, 09:30:26 PM
Day 2 up 11k at 86k vs 2019 75k.

Yes Cigar tried to bred my mare to a donkey but your lab results on your semen cam back they advised nobody should be breeding to your chromosome. After generations of inbreeding now I understand
I seen your family photo only thing missing was Sammy Davis and dean martin and the 800 number to call in
Title: Re: Lexington sale
Post by: horses first on October 06, 2021, 09:35:32 PM
TL average sunk today 38k ave for the 21 sold. Bringing him down to 58k and your right near the bottom. Still has another 40 or so to sell and next year crop will need big results racing in NJ.
Title: Re: Lexington sale
Post by: Jazzman on October 06, 2021, 11:29:52 PM
steve hembecker spending serious money hope hes not sending any to that dopey fines broad
Title: Re: Lexington sale
Post by: Lance on October 07, 2021, 12:06:42 PM
Congrats to TheStable.Ca on some high price purchases in Lexington. Spending lots of $$$.    Great to see them grow and expand. Should be a big year in 2022.
Title: Re: Lexington sale
Post by: hoosierboy on October 07, 2021, 12:46:37 PM
What  is the story behind steve heimbecker?  Spending a lot of cash
Title: Re: Lexington sale
Post by: secondbest on October 07, 2021, 01:12:01 PM
Heimbecker will have more rats following him than the Pied Piper
Title: Re: Lexington sale
Post by: Brown jug on October 07, 2021, 01:14:22 PM
yes the stable has bought a few higher priced ones but that is the new price of doing business
you cant buy the cheap ones forever and hope to compete
 they have bought 9 at an average of $45k each
and that average will go down as they buy more lower priced ones on the remaining days
Title: Re: Lexington sale
Post by: augustaandy on October 07, 2021, 01:46:56 PM
Tidbits on the sale so far;

Walnerís are on fire! His first crop hit and if you ever saw him in the paddock, heís a much bigger Chapter Seven.

Lazarusís sold well due to the increase in NJSS and not much else to choose from for the program.

Father Patrickís sold OK so far but if you take away Greenshoe most people canít name much heís thrown. Heís pretty much turned into a PASS stallion.

Take a look at some of the broodmares / potential broodmares in the Harrisburg Mixed Sale by Father Patrick:

1106 Graceful Lady

Sold for $300,000, earned $11,393

1442 FORTISSIMO FASHION

Sold for $175,000, earned $14,245

1443 FORTITUDE FASHION

Sold for $250,000, earned $2,150

His sire averages will probably be impacted lower the next 2 days.

No Trixtonís have sold yet but theyíre coming up. I donít expect them to sell that great. Last year they averaged under $19,000.

With all the great conformation, top breeding, high priced yearlingís the Takterís have trained, name their best stallion? Iíll personally take Lindaís Chapter Seven or Walner over all of them.

Tactical Landing may have put a scare into those who have his yearlings on the ground to sell next year and those who have mares currently in foal by him. If he doesnít ďhitĒ, those breeders may not be happy. Good luck competing against Muscle Hillís and Walnerís offspring in the NJSS!!!   

Speaking of Muscle Hill, there are 9 of his stallion shares in the Harrisburg Mixed Sale, along with 10 shares of Father Patrick, 3 shares of Trixton and 4 shares of Tactical Landing. 

Kudoís to Ken Jacobs who spent huge to try to finally win a Hambo but the highest priced yearlings donít necessarily win this race. Richard Gutnick won it with a $16,000 yearling and Walner cost him $90,000!

Less fireworks today and tomorrow but the real fun starts when the Downbytheseasideís sell Friday. No doubt the Fear The Dragonís will be far cheaper, and mostly behind his offspring on the racetrack too. Peeble Beach and Gulf Shores are grand circuit horses. What has Dragon thrown? Downbytheseaside was also a gorgeous horse, much like Huntsville who was bigger. Dragon was not nearly as impressive as the other two. Also, the Ohio and Kentucky programs have taken off while New York has stayed stagnant. New York still has not yet paid their 2020 breeder awards either!

Whatís the hurry?
Title: Re: Lexington sale
Post by: Kole Hanover on October 07, 2021, 06:55:06 PM




 I saw the muscle shirt & thought it was Virgil (huge arms & abs to boot)



 481   CYCLELIST
F, B, Southwind Frank - My Pink Bike   


 purchased for 7K by:
JOSHUA KAUFMAN, Philadelphia, PA, USA

 Consignor: Diamond Creek, Agent

 



 I wonder what type of deal this one will be gutted on...
Title: Re: Lexington sale
Post by: TimTimTimbo on October 08, 2021, 03:09:52 AM
https://www.youtube.com/watch?v=powhJvTRgGU

Rocco gets a mention here from the guy who bought #364.
Title: Re: Lexington sale
Post by: LUCPARK on October 08, 2021, 09:46:47 AM
https://www.youtube.com/watch?v=powhJvTRgGU

Rocco gets a mention here from the guy who bought #364.

we have had i think 7 horses together the last 2 yrs and we presently  have 3 together ..

he bought nice quality stock for next yr at the lexington sale  i excited for him  i think he bought 10 or 11 so far at this sale

and harrisburg still to come

.
i only buy indy breds  so
im sure myself and doug will buy 3 or 4 indy breds together in upcoming sale in few weeks,
see how it goes






Title: Re: Lexington sale
Post by: Parked on October 08, 2021, 11:43:43 AM
big balloons this year, probably highest grossing Lexington sale ever

everyone is on their way there now if not there already

who will get the next Damien, Maverick or One Eight Hundred

Tuesday evening will make great theater

Add to the list $600,000 6 horse in the 2 nd race at Lex today. First start so has a shot of getting a check..   
Title: Re: Lexington sale
Post by: Racing Troll on October 08, 2021, 11:46:55 AM
WITH THE MONEY PAID FOR THESE YOUNG UNS; IT SHOWS THAT STATES SHOULD CUT 50% FROM THE OVERNITE PURSES AND PUT IT ENTIRELY INTO 2 AND 3 YR OLD RACING
Title: Re: Lexington sale
Post by: MR.DALRAE on October 08, 2021, 12:26:41 PM
TOTALLY AGREE
Title: Re: Lexington sale
Post by: DICK FURLONG on October 08, 2021, 12:38:44 PM
MAIDENS SHOULD GO FOR 100K, THE "OPEN" SHOULD NEVER GO FOR MORE THAN 20 UNLESS IT IS A STEAKS RACE

AND

60-25-10-5  EVERYONE ELSE GETS TO SPLIT AN ALSO RAN CHEQUE ALSO COMING FROM THE PURSE ACCOUNT
Title: Re: Lexington sale
Post by: Brown jug on October 08, 2021, 02:07:01 PM
bonanza looked a lot like maverick only at half the cost
ouch !!
overpaying for siblings will send you to the poor house. especially colts
Title: Re: Lexington sale
Post by: Mr_Ed on October 08, 2021, 03:51:47 PM

Who can convince the forum that peeps buying these animals actually earned their money?
Title: Re: Lexington sale
Post by: LUCPARK on October 08, 2021, 05:23:33 PM
Who can convince the forum that peeps buying these animals actually earned their money?

WHY DOES THIS MATTER TO U ..IM ASKING FOR A FRIEND
Title: Re: Lexington sale
Post by: augustaandy on October 08, 2021, 07:30:26 PM
bonanza looked a lot like maverick only at half the cost
ouch !!
overpaying for siblings will send you to the poor house. especially colts



exactly!!!
Title: Re: Lexington sale
Post by: COUNSELOR on October 09, 2021, 10:14:21 AM
SECTION 179 OF THE IRS CODE GIVES THE PURCHASER THE ABILITY TO EXPENSE 100% OF THE PURCHASE OF THESE YEARLINGS IN THIS YEARS TAX YEAR.   SAY FOR EXAMPLE YOU HAVE A LINE OF CREDIT----YOU USE ZERO CASH---WRITE A CHECK FOR $1,050,000----IN ESSENCE ZERO OUT OF POCKET AND YOU DEDUCT $1,050,000 FORM YOU INCOME AS AN EXPENSE---DOES THIS HELP HIGH WAGE EARNERS?   I THINK SO.

THEREFORE, WHEN YOU SEE NEW PURCHASERS OF YEALRLINGS THINK ABOUT THE RISK----VERY LITTLE IF ANY SINCE THE SECTION 179 PERMITS EXPENSING ON DAY OF PURCHASE.  FURTHER, RECALL THIS EXPENSE TAKEN CAN OFFSET YOUR INCOME FROM OTHER SOURCES SUCH AS W-2 INCOME. 

THEREFORE, WE CAN EXPENSE UP TO $1,050,000 IN 2021 ON ANY HORSE PURCHASE----OFFSET INCOME WITH THAT FROM OTHER SOURCES 9 EITHER BUSINESS OR PERSONAL) AND IN ESSENCE GET A TAX REFUND FOR BUYING YEARLINGS!

HIGH INCOME FOLKS ARE GETTING TAX ADVICE FROM THEIR ATTORNEYS AND IT IS GOOD ADVICE.   THEY HAVE LIMITED RISK!!!

HOPE THIS HELPS YOU UNDERSTAND THE LEXINGTON PRICES!!!

MANY HORSEMAN DO NOT UNDERSTAND THESE TAX RULES SO I WOULD RECOMMEND A TAX ADVISOR SO YOU CAN TAKE ADVANTANGE OF THESE WRITEOFFS.  MANY ARE NOT AWARE THAT HORSES ARE CLASSIFIED AS EQUIPMENT AND ARE ELIGIBLE TO SECTION 179.
Title: Re: Lexington sale
Post by: MR.DALRAE on October 09, 2021, 02:32:20 PM
WHY DOES THIS MATTER TO U ..IM ASKING FOR A FRIEND

YOU HAVE ANY FRIENDS BESIDE HE,,,,AND IM NOT AXXING
Title: Re: Lexington sale
Post by: COUNSELOR on October 09, 2021, 11:22:14 PM
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!!
Title: Re: Lexington sale
Post by: marsh99 on October 10, 2021, 10:20:56 AM
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!!

Exactly. It's legal and it supports breeders, trainers, vets, etc. Whether you think the whole industry is beyond saving or not (and granted there are some jackasses who cheat), the industry does support a huge amount of honest jobs and keeps small farms in operation. Doesn't matter if you spend $1,000,000 or $10,000 on a yearling, you still get the benefit. And if it hits, and you win big with the next Seaside or Sweet Lou, you can buy more to offset your gains and further support the industry.

Good accountants with knowledge of this industry are vital.
Title: Re: Lexington sale
Post by: Kole Hanover on October 10, 2021, 05:03:41 PM


 I can't see Tactical Landing being all that in the breeding shed, first day there were a bunch of over priced ones & their price fell off a cliff, every other day.


 
 I see these 2 horses(& many more) below are way over priced. Being in the first 75 hips of the sale- got them a ton more $$$. Suckers were there bidding large(with others money)- just to be seen & heard.


 Tactical Landing is going to be a bust, I loved the Walners last year & have a decent  colt who went out to the field a couple weeks ago to get some well deserved rest, he owes me nothing, colt has a nice amount stashed away for his training bills next year to boot.


  1)   #71 Una Madonna :  SIRE- Tactical Landing $100,000 Sons of Muscle Hill are 3/59 from Donato Hanover mares, Does not fit sire profile

  2)  #68 Anointed:   SIRE- Tactical Landing $260,000 Sons of Muscle Hill are 0/38 with Pine Chip mares

 

 Look at the difference between Mr.Jacobs & that other guy who sues people, can't compare them 2.
Title: Re: Lexington sale
Post by: Overcheck on October 10, 2021, 08:11:34 PM


Still a high risk proposition.   Why not write the check for an income producing asset?  One with better resale than 95% of those horses purchased at sale.  I guess if you have that much $ it's hard for us common folk to comprehend.
Title: Re: Lexington sale
Post by: augustaandy on October 10, 2021, 10:02:30 PM
wealthy people wish to win races and have massive income they need to write off

purses higher than ever, OHSS and KYSS

 
Title: Re: Lexington sale
Post by: LUCPARK on October 10, 2021, 10:11:09 PM
Indiana purses soon to jump up as well


Record sales broken


At Lexington

Harrisburg. Around corner

So is the Hoosier classic sale

Title: Re: Lexington sale
Post by: Overcheck on October 10, 2021, 10:21:25 PM
wealthy people wish to win races and have massive income they need to write off

purses 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.
Title: Re: Lexington sale
Post by: Kole Hanover on October 10, 2021, 10:39:10 PM
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.



 It is all a game of "Look at me"...

 The breeders are eating this shit up,

 I could have pin-hooked my Walner last year for 3x what I paid for him- but I figure if I train him down then I may as well roll the dice & it did pay off but its always wise to cash out in the black & re-invest with house funds.
Title: Re: Lexington sale
Post by: Overcheck on October 10, 2021, 11:01:44 PM
Tough decision for sure.  I agree best to get in position to play with house money if possible.   Some of the race programs put sales price in them and majority of them are under water.  The amount of money out there just must be unbelievable.  I'd say this is the peak but time will tell.  Stupid money is only stupid for so long.
Title: Re: Lexington sale
Post by: NJ The best on October 11, 2021, 04:42:38 PM
This guy Matt Morrison spending money all over , babies tough game.
Title: Re: Lexington sale
Post by: marsh99 on October 11, 2021, 04:50:57 PM
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.

Good point. I should clarify:

A good CPA will know how to apply the write offs.
A great one will tell you you're an idiot for investing in horse racing in the first place LOL.

Title: Re: Lexington sale
Post by: COUNSELOR on October 12, 2021, 10:14:20 AM
AGREE WITH MOST OF THE COMMENTS BUT REMEMBER THE SMART MONEY CAN USE THESE WRITEOFFS TO BUY TRUCKS, TRAILERS, EQUIPMENT, ETC.  YOU CAN ALSO USE THIS DEDUCTION IN YOUR BUSINESS IF YOU ONLY ARE A HOBBYIST IS RACING.

EITHER WAY, EVERYONE, LARGE OR SMALL SHOULD TAKE ADVANTAGE OF WHAT IS BEING GIVEN TO YOU.  PLEASE RECALL THAT THE ACCESS TO FUNDS IS NOW MUCH EASIER THAN EVER TO OBTAIN FOR SMALL BUSINESS.  RATES ARE AT HISTORIC LOWS.   SO WHETHER YOU UTILIZE FUNDS FOR RACING OR FOR YOUR SMALL BUSINESS PLEASE CONSIDER AND SEE IF THESE STRATEGIES WORK FOR YOU AND YOUR FAMILY! 

I AM SURE I WILL NOT SEE THIS AGAIN IN MY LIFETIME BUT MANY OF YOU WILL---SO WHY NOT EDUCATE YOURSELF TODAY FOR FUTURE ENDEAVORS!!!

I ALWAYS SEE FOLKS COMPLAINING THAT THEY ARE NOT RICH---BUT, TRUTHFULLY WE ALL MUST START SOMEWHERE.  USE YOUR HEADS AS THERE ARE PROGRAMS OUT THERE FOR EVERYONE---YOUNG AND OLD.

BE SAFE!
Title: Re: Lexington sale
Post by: Calhoun on October 14, 2021, 04:49:34 PM

Did that thing you had racing this year finish his last race yet? Been sometime now that stretch ainít that long tmbz1
That would be Pigeon Jim Buttfuck's solely owned homebred phenom Photo Image who finished his career with $9,000 in earnings, offset by $50,000 of stakes payments plus $120,000 of training bills.

And he did finish that last race, getting beat 20 lengths on the Kentucky Chitlin circuit at Paducah for a $3,000 purse.

Paducah ngc3 ngc3

Title: Re: Lexington sale
Post by: cigar on October 14, 2021, 05:02:55 PM
Iím sure it was just a fluke, heís way to smart for something like that. Hey pigeon Jim tell me this ainít true!
Title: Re: Lexington sale
Post by: Calhoun on October 14, 2021, 05:16:34 PM
My partner and I use the same pedigree firm and we are on board of our buys.
I can't decide what's more tragic ... the fact you employ a "pedigree firm" to come up with buzzsaws like Photo Image .. or .. that you "are on board" whatever the fuck that means.

Title: Re: Lexington sale
Post by: Fatboy on October 14, 2021, 05:24:28 PM
I can't decide what's more tragic ... the fact you employ a "pedigree firm" to come up with buzzsaws like Photo Image .. or .. that you "are on board" whatever the fuck that means.

"BUZZSAWS" ngc3
Title: Re: Lexington sale
Post by: Bernie Madoff on October 14, 2021, 05:43:24 PM
Homebred phenom.  ngc3 ngc3 ngc3 ngc3 ngc3
Title: Re: Lexington sale
Post by: Bernie Madoff on October 14, 2021, 05:44:34 PM
"are on board   Baby on board.  ngc3 ngc3 ngc3 ngc3
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