Endurance.Net Ridecamp Archives

Please Reply to: Louisa Pierce louloupierce@xxxxxxx or ridecamp@xxxxxxxxxxxxx
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The whole tax thing is a can of worms, people will believe what they want to 
believe - case in point. I have a girl friend who has 4 stalls but only 2 are 
boarders. She show's for ribbons on the eventing circuit and she writes 
everything off and I mean everything.  On one hand she talks about how much 
money she makes
on her boarders, but then she told me she took a 30K loss on her farm year and 
she got a money back on her taxes, and she was thrilled.

I sent her the Mass Tax codes that are very easily found on the massgov.com - 
that clearly state she has a hobby and she can not write anything off at all - 
but she said her CPA said it was
okay so she'll go with that.  I also told her about another friend who did the 
same thing, well she's still paying the IRS and she lost her house doing so!   
I guess she did not know she could not wright off her new truck and trailer for 
her horses :<)

I give her a few more years before the IRS catches up with her.


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