The 2024 Thoroughbred Owner Conference hosted its first panel Mar. 5, with a discussion about how Thoroughbred owners can avoid, prepare for and survive an audit. The panel was sponsored by Mersant International.
Gary Falter, project manager for OwnerView, moderated the panel with guests Len Green, founder and chairman of The Green Group, and Frank Palino, Tax Controversy & Divorce Mediation, The Green Group.
The panel delved into the intricacies of how the Internal Revenue Service views horse and farm owners and how those owners can best prepare for tax season.
Other topics covered the importance of a business plan and an LLC, red flags for being audited, showing profit, and hobby and passive losses.
For the replay of Tuesday's Thoroughbred Owner Conference panel, click here.
Nine additional Thoroughbred Owner Conference virtual panels are scheduled for 2024. The next session, “Information Resources for Owners,” will be held Apr. 9 at 2 p.m. ET.
For the full schedule, click here.
There is no registration fee for the 2024 virtual conference series, but registration is required. For more information about the owner conference series, including the schedule of panels and registration, visit www.ownerview.com/event/conference or contact Gary Falter at 859.224.2803 or gfalter@jockeyclub.com.
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