tax

Former Claimer Tax, Blueblood Tacitus Square Off In Wood Memorial

The triumvirate of graded stakes winners Tax, Tacitus and Haikal top a wide-open 95th running of the Grade 2, $750,0000 Wood Memorial presented by NYRA Bets, slated for Saturday at Aqueduct Racetrack in New York. The Wood Memorial, which offers 100-40-20-10 Kentucky Derby qualifying points to the top four finishers, is slated for an approximate […]

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Thayer Working To Correct ‘Unintended’ Tax On Kentucky Gambling

Senator Damon Thayer (Republican) told the Courier-Journal on Tuesday that he is working to correct the “unintended consequence” of a Kentucky state tax law which currently requires gamblers to pay taxes on their gross gambling winnings, rather than the net, as it had been done in years past. To fix the issue, Thayer is working on […]

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Breeders’ Cup Presents Connections: No ‘Genie In A Bottle’ Needed For Derby Prospect Tax

If you’re going to do something, do it well. Danny Gargan has worked every day of his life on the racetrack, but he didn’t start out wanting to be a horse trainer. It’s a curious beginning for the conditioner and part-owner of G3 Withers winner Tax, a strong prospect on the Road to the Kentucky […]

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Tax Bulls His Way Through At The Rail For Withers Score

R. A. Hill Stable, Reeves Thoroughbred Racing, Hugh Lynch and Corms Racing Stable’s Tax made a bullish move to gain the upper hand in Saturday’s G3 Withers Stakes, forcing his way through a narrow hole at the rail and racing on gamely to hit the wire a head in front. Off as the 2-1 top […]

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Veterinarians Qualify For New Tax Deduction

Small business owners in the veterinary world will now qualify for a “pass through” deduction on their federal income tax, according to the U. S. Treasury Department. The Treasury Department and the Internal Revenue Service released regulations last week explaining how sole proprietorships, partnerships, trusts and S-corporations can apply the deduction under Section 199A of […]

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Budget Act Retroactively Extends Three-Year Racehorse Depreciation For 2017

President Trump today signed into law the Bipartisan Budget Act, a bill that among other measures extends retroactively for fiscal year 2017 uniform three-year racehorse depreciation, an important tax provision supported by the National Thoroughbred Racing Association (NTRA) that expired in 2016 alongside certain other expired tax provisions. The bill also funds the federal government […]

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