Barrel Racing and Horse Racing can be very expensive endeavours with the opportunity to make money in winnings, adding value to your animals, improving their value and selling them at a profit. There is also potential to increase the value and sell the winning animal at a profit. This by definition is a business. Whether profitable or not it should be treated as business. The losses can be used to offset your tax liability in your regular job or main business. With ten years in this industry I can help you set this up, show you how to keep good records and BEST OF ALL you could SAVE BIG MONEY come time to pay the tax man.
Your REally have nothing to lose but a little time and effort. If I can't save you money on your tax liability it costs you nothing.
Give me a call or send me a text. I am always available to answer questions or meet.