Quote:
Originally Posted by rkinnin
i heard about it but can not seem to find more information on this teaser in the tax bill that the President just signed.
Of course, his local paper [the chicago sun times] covered it.
http://www.suntimes.com/business/301...mize-bill.html
who has more information on it though? |
They are probably talking about the tax break when you buy a new horse. A new horse is considered a horse that hasn't been in full training, such as a weaning, yearling or a 2 year old in training. This 'break' was 50% bonus depreciation so off the top of my head you were able to write off 66.5% of such asset before it was even in training.
I am not 100% sure on if you were to buy a 3 year old that hasn't raced but in full training for a year if that would qualify.