The Tax Relief Act provides an incentive through 2012 that may benefit those participating at the breeding stock sales this fall. A $125,000 Expense Allowance is in place for purchase of new or used property. In the case of breeding stock sales, broodmares (both in-foal and barren) and racing prospects may qualify for the incentive as used property. Weanlings are not eligible. Click on the links below to learn more.
- Summary of incentives (two-page printable flyer)
- Incentive example sheet (one-page printable flyer)
In 2013, the Expense Allowance is scheduled to be lowered to $25,000.
Please consult a tax professional for details on how you may be able to take advantage of these opportunities before the end of the year.