The Business of Making Money with Horses

LESSON NINE

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LESSON 9

1. The first rule for dealing with the IRS, when operating a business, is there must be     motive.

2. Provide an example of an expenditure which is tax deductible.

3.  All business expenses must be and        and directly    with the operation of your business.

4.  Name the main two ways, mentioned in the lesson, that an equine business owner can benefit from tax laws in the United States.

5. What is the definition of a "tax-shelter" ? Outside research is recommended for aid in answering this question. Please include where you found the information.

6.  The two mainstays of legitimate operations are       and        .

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