Thinking Outside of the Ring

Horses & Taxes: 3-Year Depreciation For Race Horses Restored

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Race horse owners benefit under the depreciation rules that are part of recent budget legislation. Credits: Lillian Shupe
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Congress has passed the Bipartisan Budget Act of 2018, legislation that will fund government operations through March 23 and remove budgetary obstacles to allow longer-term FY2018 appropriations talks to move forward.

For the horse industry, lawmakers approved an important tax incentive to restore three-year depreciation of racehorses for FY2017, allowing race horse owners to take advantage of the incentive within their FY2017 tax submission. This will allow racehorse owners to capture tax benefits that expired in FY2016.

The new tax law includes 100% depreciation for racehorses. The industry will continue to advocate for the 3-year depreciation provision for 2018 and beyond. In addition to enacting an important capital cost recovery tool for the horse industry, the budget agreement also removes spending caps until March 2019 and authorizes nearly $300 billion in additional federal spending for the next two years.

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Lawmakers hope that addressing the funding caps, effectively ending the “sequester” for the next year, will pave the way for smoother and more long-term budget negotiations through the remainder of 2018.

For more information related to the nation’s rapidly changing tax policies, contact Bryan Brendle, AHC’s Director of Policy & Legislative Affairs at bbrendle@horsecouncil.org or 202-296-4031.

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Equine Events June 2018 Onward

Events are listed for New Jersey, New York and Pennsylvania. To have your event listed e-mail lshupe@tapinto.net. For premium event listings enter them online at https://www.tapinto.net/events/new?premium=true

June 8-10 — Jersey Classic Horse Show, Horse Park of NJ, http://www.ashanj.net/, www.horseparkofnewjersey.com

June 8 — Atlantic County 4-H Open Gaming Show - Atlantic ...

Upcoming Events

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Sat, June 23

Moorland Farm, Far Hills

MARS Essex Horse Trials  

Horses Sports

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Sun, June 24

Moorland Farm, Far Hills

MARS Essex Horse Trials  

Horses Sports

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Mon, June 25

Moorland Farm, Far Hills

MARS Essex Horse Trials  

Horses Sports

USHJA Horsemanship Quiz Stable Challenge Now Open

June 18, 2018

LEXINGTON, Ky. — The United States Hunter Jumper Association invites equestrians of all ages to put their horsemanship knowledge to the ultimate test in the 2018 USHJA Horsemanship Quiz Stable Challenge, presented by The Plaid Horse. The 30-day online quiz challenge is open to juniors and amateurs and brings barns together as teams to test their horsemanship knowledge for a chance to win ...

Horse Care Workshops at Lord Stirling Start June 23

BASKING RIDGE, N.J. — Somerset County Park Commission Lord Stirling Stable is offering Horse Care Workshop 101 for adults and youth seeking to gain experience and confidence around horses through a combination of non-riding activities and hands-on practice.

Horse Care Workshop 101 will be held at Lord Stirling Stable, 256 South Maple Avenue in Basking Ridge, NJ beginning Saturday June ...

Hampton Classic Prizelist Available

BRIDGEHAMPTON, N.Y. — The Hampton Classic is set to run Aug. 26 through Sunday, Sept. 2.

The 2018 Prize list is now available at www.hamptonclassic.com.

A new online entry system is available directly through The Hampton Classic website.

Grandstand tickets for Grand Prix Sunday are also now on sale.

Information on advertising in the program is also available online or contact ...

Penn National Revises Green Hunter 3' and 3'3" Acceptance Policy

HARRISBURG, Pa. — After much debate and numerous exhibitor requests, the Pennsylvania National Horse Show (PNHS) announced it is going to maintain its previous policy regarding the acceptance of entries into the 3' and 3'3" "Green Hunter" divisions for the 2018 horse show.

On May 23, 2018, the PNHS announced the 3' and 3'3" Green Hunter entries would ...