Official IRS Tax Guide to Auditing Horse Activities

When your horse activities show substantial tax losses, the IRS may declare that you don't have a business at all but merely a hobby. When that happens, not only will current tax deductions be disallowed but you may be required to pay thousands of dollars in back taxes, penalties and interest. It could bankrupt you. But your horse business can withstand an IRS challenge if you follow the simple rules of the game. What you need to know is contained in the Official IRS Tax Guide to Auditing Horse Activities. This is the official training manual the IRS uses to prepare its agents to sniff out horse "hobbyists." Word for word, it's the same manual the IRS agent will study before showing up at your farm. Book jacket.IRS Staff is the author of 'Official IRS Tax Guide to Auditing Horse Activities' with ISBN 9780929346700 and ISBN 092934670X.