Carrazzo Media Release
Welcome to the new tax year!
Let’s start the 2016 tax year with some positive tax news with a discussion of the generous mare and stallion write-off rules relating to eligible breeding stock. In tax world, these are referred to as the “special closing value” rules.
Carrazzo Consulting is regularly asked to review the horse tax accounts of breeders and it still amazes me as to how poorly these rules are applied by the general tax community, so let’s hope this contribution clarifies the many misinterpretations of these rules that are out there.