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For most people their encounter with the IRS ends at the audit phase. Taxpayers will often agree to pay whatever the IRS says they owe. In situations where the auditor claims your activity...
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Advertising and promotional expenses are usually deductable along with other ordinary and necessary expenses in horse and livestock activities operated as a business. Traditional print...
Credit: Thinkstock When all is said and done, becoming a corporation or LLC is an appropriate way to enhance your ability to comply with IRS regulations pertaining to horse activities, and it is the best...
Credit: Thinkstock The Material Participation Test requires that a taxpayer engage in the activity on a “regular, continuous and substantial basis.” The test also requires that the taxpayer actually does...
