ARCADIA, Calif. (Jan. 9, 2017) -- Thoroughbred Owners of California (TOC) is offering a free seminar, "Tax Planning for Horse Owners" - an introductory seminar aimed at helping horse owners gain a working knowledge of the rules of both federal income and state sales taxation as they apply to the racehorse business.
A panel of tax experts will discuss tax treatment for horse acquisitions and sales, tax deductions for business related expenses, the IRS "hobby loss" provision, depreciation, sales and use taxes, forms of doing business (sole proprietorship, partnership, syndicate, corporation or LLC), capital gains and more.
The seminar will take place at Santa Anita Racetrack, in the Baldwin Conference Room (3rd floor, Clubhouse level), Saturday, Feb. 4 at 8:30 a.m. Although it is free and open to the public, reservations are recommended and can be made by calling TOC at (626) 574-6620 or by clicking here http://www.toconline.com/events/tax-planning-for-horse-owners/
TOC is the official organization serving new, veteran and future Thoroughbred owners in the state. It represents, advances, and protects owners' interests and rights in legislative, administrative and business matters. Additionally, the organization provides ongoing educational opportunities for current and prospective owners.