If your CPA has told you that you need to invest profits from a successful venture, you have a good problem. You might consider putting the money into something you have enjoyed watching for years but have never actively participated in before. For those who love to attend major thoroughbred racing events, this could be the time to try race horse partnerships as a way to get a tax advantage. The investment and partnership must be recognized as a business by the IRS though.
Even if you go into ownership with a number of partners, buying a promising racehorse can be a big investment. Before you decide who to partner with, you should take some things into consideration. First of all, especially if you are an amateur in the racing world, you need a partner with experience. All animals at this level are expensive, so you need someone who knows how to pick a world class champion.
Even individuals who can spot talented horses won't necessarily be effective partners unless they also have an intimate understanding of the industry. There are politics and insider strategies involved with most enterprises, and the horse racing business is certain one that requires knowledge of the language and mentality associated with the inner workings of the sport. This is a business after all, and your partner should, first and foremost, be business oriented.
No business can be successful without wins. If you are an amateur a horse racing, your partner has to be especially adept at picking young horses with talent and potential. Not all foals become champions, but industry professionals know how research backgrounds and have a sixth sense when it comes to untested colts. When you partner with one of these individuals, you can expect to see your investment racing at the highest levels.
Even though the racing industry places a premium on winning, you and any partner you choose, must put your thoroughbred's safety and contentment in the forefront. The most talented horses will not be able to give maximum performances without being in top health. The trainers, exercisers, and grooms all need to understand that the animal's well being is the number one priority.
Money partners normally have access to behind the scenes track experiences, auctions, and at the stable. They do not have responsibility for the day to day operations of the business however. Serious money partners often develop long term relationships with the trainers, jockeys, and stable employees.
As a partner you can expect paddock passes and preferred seating at the track. You will certainly join everyone in the winner's circle when your thoroughbred beats the competition. It has become customary for partners to have access to detailed information about their investment via website portals.
Racing is a sport that people have enjoyed for hundred of years. Not much can be better for track enthusiasts have owning a part of a winning thoroughbred. Shrewd partnerships are one way to make that happen.
Even if you go into ownership with a number of partners, buying a promising racehorse can be a big investment. Before you decide who to partner with, you should take some things into consideration. First of all, especially if you are an amateur in the racing world, you need a partner with experience. All animals at this level are expensive, so you need someone who knows how to pick a world class champion.
Even individuals who can spot talented horses won't necessarily be effective partners unless they also have an intimate understanding of the industry. There are politics and insider strategies involved with most enterprises, and the horse racing business is certain one that requires knowledge of the language and mentality associated with the inner workings of the sport. This is a business after all, and your partner should, first and foremost, be business oriented.
No business can be successful without wins. If you are an amateur a horse racing, your partner has to be especially adept at picking young horses with talent and potential. Not all foals become champions, but industry professionals know how research backgrounds and have a sixth sense when it comes to untested colts. When you partner with one of these individuals, you can expect to see your investment racing at the highest levels.
Even though the racing industry places a premium on winning, you and any partner you choose, must put your thoroughbred's safety and contentment in the forefront. The most talented horses will not be able to give maximum performances without being in top health. The trainers, exercisers, and grooms all need to understand that the animal's well being is the number one priority.
Money partners normally have access to behind the scenes track experiences, auctions, and at the stable. They do not have responsibility for the day to day operations of the business however. Serious money partners often develop long term relationships with the trainers, jockeys, and stable employees.
As a partner you can expect paddock passes and preferred seating at the track. You will certainly join everyone in the winner's circle when your thoroughbred beats the competition. It has become customary for partners to have access to detailed information about their investment via website portals.
Racing is a sport that people have enjoyed for hundred of years. Not much can be better for track enthusiasts have owning a part of a winning thoroughbred. Shrewd partnerships are one way to make that happen.
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Find out about the best race horse partnerships by touring our official website right now. To know more about our available horses and to check out our image gallery, use the links at http://www.mogerracing.com .