Taxs

karenkarenn · Postby **karenkarenn** » Thu Sep 10, 2009 6:14 pm

http://www.ntra.com/content/09-290-039_ ... _Flyer.pdf

I wasnt sure if this has been placed here or not. But its seems new to me.
From the www. CTBA.com

"Tax Benefits for Racehorse Owners

From NTRA
WASHINGTON, D.C. (Sept. 10, 2009) -- Tax benefits created by the passage of two bills make 2009 a tremendous year to purchase yearlings and other racehorses.

The 2009 Economic Stimulus Bill provides bonus first-year depreciation and an increase in small business expensing (write-offs). These benefits are scheduled to expire at the end of the year. Read more here. http://www.ntra.com/content/09-290-039_ ... _Flyer.pdf

After five years of legislative work in Washington, D.C. by the NTRA and others in our industry, the Farm Bill passed with a faster depreciation schedule for young racehorses that began in 2009. The new schedule better reflects the time over which a horse is likely to race. Click here http://www.ntra.com/content/09-290-112_ ... ge_Web.pdf for additional information on this benefit.

Buyers may be able to combine the Stimulus Bill and Farm Bill tax benefits. Please consult your tax professional for details. "

Karen