The NCWHLA Show is scheduled for Saturday, May 18 at Biggerstaff Park in Dallas, NC. Wayne Dean will be the judge for the event. There is a new class sheet posted in the calendar section of the NCWHA.org website. This show will be under SHOW rules: All Trail Pleasure Classes are amateur, All Country Pleasure Classes are Keg Shod and All Lite Shod classes will say Open with tungsten shoes noted as allowed.
Murfreesboro, TN – ThorSport Farm and FarmPaint.com will hold an Open House on Friday, May 24, featuring company information, tours of the new buildings and facility, live entertainment and a meet and greet with two NASCAR Camping World Truck Series drivers.
The Open House from 10a.m.-3p.m. at ThorSport Farm will include food and refreshments. It is free and open to the public. ThorSport Farm is located at 4024 Barfield Crescent Road, Murfreesboro, TN 37128. Attendees will have the opportunity to tour ThorSport Farm’s barns and arenas as well as the new FarmPaint store.
“We’re offering this Open House as an opportunity for locals and other surrounding areas in Middle Tennessee to see what we offer at FarmPaint and to tour our new facility that we are extremely proud of,” said FarmPaint National Sales Manager, Lori Douglass. “An Open House is a great way for the local community to see what we are all about and what we are so excited to bring to Murfreesboro.”
Murfreesboro is home to ThorSport Farm’s new southern facility for their training and breeding of Tennessee Walking Horses. It is a 68 stall facility with an indoor arena that features ThorTurf, a revolutionary dustless footing for horse arenas. An outdoor arena also has EquiClear, a solution for arena dust control on existing footings. The farm showcases many of FarmPaint’s products from the arena footings to the paint on the fences that surround the property. ThorSport Farm also hosts horse shows at their facility, including the WHOA Versatility Show following the Open House on Sunday, May 26.
NASCAR Camping World Truck Series drivers, Matt Crafton (#88 Menards) and Johnny Sauter (#98 Carolina Nut Co.), will be making an appearance at the event with their Toyota Tundra’s. The drivers will be on property to sign autographs and talk to fans during the event.
There will be drawings for a variety of prizes such as local restaurant gift cards, FarmPaint merchandise or gift certificates and racing merchandise. Entertainment will be provided by Nashville favorite, Tim Gore.
The event will take place rain or shine. For more information, please contact Ashley Eyles, Public Relations Specialist at aeyles@thorworks.com or by calling 419-239-2388.
/FarmPaint
www.farmpaint.com
By John Alan Cohan, Attorney at Law
For any business, long-term profit potential may hinge, in some measure, on efforts to reduce costs, getting better prices for goods and services, consolidating operations, layoffs, or efforts to promote efficiency.
For many people in the horse or livestock business, the operations have a history of losses, but the expectation is that future operations will be profitable. The IRS will want to see evidence that the taxpayer has taken steps to correct or abandon unprofitable strategies, and to demonstrates steps taken to improve operations.
Often, the IRS will argue that a profit motive ultimately depends on whether the taxpayer expects future earnings and appreciation to be sufficient to recoup accumulated losses of prior years. The IRS will want to see a meaningful plan for recouping losses sustained in prior years.
This seems inherently unfair. Other businesses are not asked to demonstrate a plan to recoup past losses. In some industries past losses have been so great that the companies might never really end up recouping them.
According to Terrence D. Miller, CPA, of Miller and Miller Accountancy Corporation in Fresno, California, “In my experience with audits, quite often an auditor will be obsessed with the cumulative losses and they fixate on it. And the losses might not ever be recoupable. Luckily there is a Tax Court case on the subject and usually when you show auditors this case they move on.”
He is referring to Helmick v. Commissioner IRS, T.C. Memo 2009-220, which involved a horse breeding and boarding operation with losses for a period of 17 years. The Tax Court held in favor of the taxpayers, and rejected the IRS “recoupment” argument.
The court said that the IRS “seems to assume that the requisite profit motive as of any given year must involve an expectation that even all past losses will be recouped, so that the activity will have generated a net profit over its entire course. This position distorts the notion of profit motive for purposes of section 183.”
The court cited a hypothetical example: “If a natural disaster caused the death of 90 percent of a rancher’s herd and resulted in a catastrophic loss that could never be recouped, but the rancher thereafter expected to generate an overall prospective profit by breeding and selling the remaining 10 percent of his herd on a foregoing basis, then he could not be said to lack a profit objective after the disaster merely because he would never recoup the prior loss.”
The court pointed out – and this is very important – that the “recoupment” concept is forward looking. That is, the profit objective is shown where the taxpayer expects that the activity will generate an overall profit between the year being audited and the time at which future profits are expected.
To some extent, taxpayers often can explain a poor history of profits due to circumstances beyond their control, including personal issues, casualties, stillborn foals, and the negative effect of the recession on horse sales. The implication is that the activity, in a given year, would have been profitable if these events had not occurred.
Whether an activity producing losses is a business or a hobby is a question that has generated substantial litigation in U.S. Tax Court. If faced with an audit of horse or livestock activities, it can be frustrating when confronted with an IRS auditor who wheels out the “recoupment” argument. Thankfully, there are Tax Court cases, such as that mentioned above, that provide a rational approach in determining whether the taxpayer has a bona fide profit motivation.
[John Alan Cohan is a lawyer who has served the horse, livestock and farming industries since l98l. He can be reached at: (3l0) 278-0203, by e-mail at johnalancohan@aol.com, or you can see more at his website: www.johnalancohan.com.]
Heart of America Walking Horse Association, the oldest recognized HIO in the country announces whom to contact to affiliate your show. If your show is affiliated already with another HIO HAWHA will waive the affiliation fee if you wish to change your affiliation to Heart of America. Inspection fee is $10.00 per horse of which $4.00 goes to The Calvary Group.
With the inclusion of Pride HIO DQP’s and Judges with HAWHA affiliations will be handled by the following.
Kentucky and All States East
Sam Howard, DQP Coordinator 859-582-9778
Missouri, Illinois and All States West
Susie Graham, HAWHA Licensing and Enforcement Secretary 417-327-2942
1018 N. Market, Boliver, MO 65613
General Information
Everett Clamp, President 417-531-0991
Margaret Hickman, Vice President 417-288-2699
Matthew McWilliams, Sec. 573-245-9202
4037 Springfield Rd, Bourbon, MO 65441
SHOW DATES
Show dates are coming in daily from many states. We hope to publish an updated list
within the next week outlining other shows. Please let us know of your upcoming show dates.
Here is a partial list of shows at this time.
HAWHA Spring Classic, May 31- June 1, Judge:Clay Smith, Mt. Vernon, KY, Flying M Arena, Mt. Vernon, MO
Buffalo Saddle Club, June 22, Saddle Club Arena, Buffalo, MO
Bolivar Saddle Club, July 4, Bolivar Saddle Club Arena, Bolivar, MO
Midwest Walking Horse Trainers Association, July 13, Buffalo Saddle Club Arena, Buffalo, MO
TWH of Minnesota Presents Summer Nights, August 16-17, Fairgrounds Mason City, Iowa
Bill Maack Memorial Horse Show, September 21, Bolivar Saddle Club Arena, Bolivar, MO
HAWHA Fall Championship, October 3-5, Flying M Arena, Mt. Vernon, MO
HAWHA Lebanon Agri-days Show, October 12, Lebanon Saddle Club Arena, Lebanon, MO
One of Canada’s premier horse expositions, the Red Deer, Alberta, edition of Mane Event was held April 26th – 28th, 2013 at beautiful Westerner Park. Approximately 40,000 horse enthusiasts attended the event. The Tennessee Walking Horse Association of Western Canada hosted a breed information booth which was manned by Bill and Grace Adams, as well as other members of the organization, each day from 8:00 am until 8:00 pm. Caroline Hoffman represented the Tennessee Walking Horse Breeders’ And Exhibitors’ Association and presented clinics on the topics of Gait Recognition, Riding for Better Gaits, and Easy Gait Solutions. There were eight riders, ranging in age from eight to 60, in each clinic and each clinic attracted right around 100 spectators.
This Thursday’s Show: The Tennessee Walking Horse–The Future
Tennessee Walking Horse Breeders’ and Exhibitors’ Association President Tracy Boyd and Executive Director Ron Thomas will talk about the role of TWHBEA in the Tennessee Walking Horse industry and their goals and vision for the future. We’ll learn about programs available to TWHBEA members and discuss opportunities for expansion and growth for the Tennessee Walking Horse in the United States and internationally.
You can listen to the live show on your computer, smart phone or tablet.
