Get In On the Action!
Isn't it expensive to own a racehorse?
There are a wide range of claiming prices that start as low as $4,000 and rise to $100,000. If you still think the $4,000 investment and the monthly training bill isn't in your budget, getting partners and splitting the cost is an option. There is no limit to how many partners a horse can have. Your horse doesn't always have to win every race to pay the bills. Horses that consistently pick up checks - finishing in the top three in a race- can help pay for themselves. Tim owns horses as well as trains them, so he understands the financial end of the business of owning thoroughbreds. He always has the horse's well being as well as the owner's well being in mind when he plans a horses future.
How do I get started?
Owning a thoroughbred race horse can be a fun, exciting hobby that has return on investment. The easiest way to obtain a race-ready horse is via a claim. It is also the quickest way to see your purchase in action. Other than claiming, you can buy a horse at one of the many yearling sales and various 2-year-old in training sales as well as a few mixed sales across the country. You can also privately purchase a horse from another owner.
The most important thing when considering ownership is....
to be as well-informed as possible. The following link provides more information regarding thoroughbred ownership. Contact Tim with any questions you may have and he will be more than happy to help!
https://www.toba.org/owner-education/
Are there tax advantages to owning a Thoroughbred?
Yes, but there are specific rules that must be followed in figuring the tax benefits. The Internal Revenue Serice classifies investors as either "active" or "passive" participants. "Acive" participants are able to claim any losses against ordinary income while "passive" participants must wait until the venture is dissolved before claiming any losses. We urge individuals considering participation to seek counsel of professional advisers for tax planning and strategies.
