The tax man giveth, and the tax man taketh away. Two important federal income tax benefits that make the purchase of business-related equipment and horses more attractive to horse owners are scheduled to expire at the end of 2009. Extension of the tax breaks into 2010 is possible but unlikely, given the fact that Congress is embroiled in what will be an all-consuming debate over health care reform...
When something sounds too good to be true, it usually is, especially if the promised benefits include a substantial tax break. On October 26, in federal district court in Utah, David Plummer, Spencer Plummer, and Terry Green entered guilty pleas on a charge of conspiracy to defraud the United States. The charge arose from a fraudulent tax shelter scheme called the "Mare Lease Program" that...
