JC / Railbird

Racehorse Ownership

Tax Break

Get a FREE racehorse in 2011, courtesy of the IRS. From an analysis of the recently passed federal tax bill in today’s TDN:

Bonus Depreciation was increased to 100 percent for eligible horses or farm equipment placed in service after September 8, 2010 and before January 1, 2012. In other words, the entire cost of eligible horses or farm equipment purchased and place [sic] in service during that period can be written off. For example, two yearlings purchased and placed in service in 2011 at a total cost of $1 million can be entirely written off that year.

Just in time for Keeneland January shopping. (And a reminder that there are more ways to support ownership than increasing takeout for purses.)

I haven’t done more than skim the sale catalog online, but @irish_1 pointed out on Twitter this morning that Antoniette, dam of G1 La Brea winner Switch, is up for auction next month as hip #267 in foal to Roman Ruler.

Posted in Industry on December 29, 2010 / Tagged Bonus Depreciation, Federal Tax Law, Keeneland, Racehorse Ownership, Sales, Taxes

Mig’s New Gig

Via @sidfernando comes this news of retired rider Richard Migliore:

Rich wants to start racing partnership. A more intimate partnership. #

The name of The Mig’s racing venture is called Pantheon Racing. Look for website and brochure this week, hopefully, Mig said. #

The Mig: “We want people to have great relationships and experiences. Want to show what it’s like participating in industry.” #

Good luck, Mig!

If you’re interested in owning horses, the Blood-Horse is offering a free webcast on thoroughbred racing partnerships on Tuesday at 1:00 PM ET. Executive editor Evan Hammonds and West Point Thoroughbreds founder Terry Finley will take questions. You can get all the details and register here.

Posted in Racing on July 19, 2010 / Tagged Blood-Horse, Partnerships, Racehorse Ownership, Richard Migliore, TOBA, Webinar