The Horse She Rode in On by Shannon Gross, Professional Animal Communicator Read More »
The Horse She Rode in On by Shannon Gross, Professional Animal Communicator
Do you ever miss calls and wonder how much money it has cost you? One my our clients receives so many calls each day that her mailbox regularly fills up and she misses calls from potential customers. She had no idea how much it was costing her until we ran a test. Read More »
As a bookkeeper serving the equine industry and through word-of-mouth from my horse owner friends, I am consistently seeing an increase in the number of IRS audits being performed on horse business owners. As an industry, equine businesses are notoriously poor record keepers …and the IRS knows it. Here are some IRS audit statistics for small business audits for the 2007 fiscal tax year: Read More »
I came upon this interesting and timely article on EquestrianProfessional.com, and want to pass it along. What Poker & the Horse Business Have In Common Read More »
I came upon this interesting and timely article on EquestrianProfessional.com, and want to pass it along.
What Poker & the Horse Business Have In Common
Recently, there was an owner of an Arabian who was distraught because she couldn’t afford to continue to pay board, farrier and vet bills because her husband had lost his job. We had to help, so we agreed to lease the mare for this show season so her owner wouldn’t have to sell her. This event made me start thinking about how many other owners are not paying their board bills on time (or at all.) I reviewed some of our current clients’ accounting records and found a 45% increase in late payments over the past six months and my team immediately began working on a plan to help them collect their fees faster. Read More »
This event made me start thinking about how many other owners are not paying their board bills on time (or at all.) I reviewed some of our current clients’ accounting records and found a 45% increase in late payments over the past six months and my team immediately began working on a plan to help them collect their fees faster.
The Internal Revenue Service LOVES horse businesses. In fact, in 2007, 27% of all small businesses audited by the IRS were ranchers or farmers. And on average, in each of these cases, equine business owners had to pay the IRS in excess of $40,000. Why? Due to poor record keeping. Read More »
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