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EQUINE

Thoroughbred horses are unique animals and the equine industry is a unique industry that requires specialized knowledge and accounting services.  At Fister, Williams & Oberlander, we have the expertise and depth of experience in the equine industry to deliver high-quality tax and accounting services to our clients.  We have provided extensive accounting, tax, and business consulting services to the equine industry for many years.

Our clients are involved in a variety of equine industry operations, including:

  • Racing operations
  • Bloodstock agents
  • Small boarding farms
  • Large farms involved in boarding, breeding, selling, and stallion syndication
  • Racing and breeding partnerships

 

We provide a wide range of services to our equine clients.  The following is an outline of services available to our equine clients:

  • Tax planning and strategies to maximize potential tax losses
  • Minimizing exposure to the hobby loss rules
  • Structuring transactions to minimize tax liabilities and maximize tax losses
  • Avoiding and managing the impact of the passive loss rules
  • Using the involuntary conversion rules to defer income taxes on insurance recoveries related to horse and farm casualties
  • Representing clients with federal and state taxing authorities
  • Taking advantage of the depreciation rules as it relates to horses and farms
  • Section 1031 tax-free exchanges of horses