Always be sure to consult with an accountant or tax lawyer if you are
horse owner as this is a very complex issue. If you are comfortable
with doing you own taxes you can probably get away with using Turbo
Tax or a similar program, but you are safest goingto an accountant.
The IRS only allows deductions for horse racing or breeding expensesif
you can prove it is not a hobby.
circumstances beyond your control
. Whether you change your methods of operation in an attempt to
improve profitability.
If this is yourfirst time in a racing or breeding business, they will
look at your past business experiences.
Horse Name . Reg #.
The question of proof of ownership of horses came up somewhere else
and maybe this needs a thread of it's own.
The AQHA has explicit wording about registration certificates not
being proof of legal ownership.
The person listed as owner is considered "owner of record" in the
association, but the horse mayhave been sold several times or died and
no one transferred the certificate into their name.
Many people don't, because they are training the horse and selling it
again soon, or just trading horses and, as long as they don't need to
show or breed, they don'tneed for that horse to be registered in their
name.
Each one needs to ask their attorney what their situation demands as
legal proof of ownership of any horse, registered or not, or if you
bred it.
I know of cases where bills of saleor cancelled checks were used as
proof of ownership and I guess if you bred it, you have records of
owning the mare/stallion or whatever contract you had about it with
whoever bred it for you.
The gist of this is to remember that your name on a registration
certificate alone is not considered legal proof, best I know.
If that were so, there are several horses I sold still with my name
as"owner of record".
No one transferred them into theirname, but I can't claim to own them,
just because my name is still on those certificates.;)
A horse thief is a person who steals horses
The two horses were just four years old, and were valued at$5,000
each. Their owner had planned to donate the animals to anon-profit
farm, where they would have lived as pets, for breeding, oras show
horses. However, they ended up being sold at an auction for just $250
each, and were then sold on to a slaughterhouse.
Assistant County Prosecutor, Jeffrey Kocian, stated: "What we have
here are two barbarians who saw nothing but meat walking around with
four legs."
Can Jaci Rae Jackson Be Hanged for Horse Theft?
Posted on December 8, 2011 by Alison Rowe
Can Jaci Rae Jackson Be Hanged for Horse Theft?
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We've all heard accounts that horse thieves have, in the past, been
sentenced to death by courtsin Texas or legally hanged by vigilantes.
The demise of Jake and his compatriots in the movie Lonesome Dove is a
depiction of one such vigilante hanging in Texas. All kidding aside,
verifiable accounts of capital punishment for horse theft (both after
a trial and by vigilantes) come not only from Texas, but also from
other U.S. states and even other from other countries.
According to a BBC news story from May 2011 , some folks in Scotland
even reenacted the eventssurrounding the 1811 hanging of afellow named
George Watson for horse theft. Watson was describedin the BBC article
as a "tinker-traveller" who made off with a "distinctive grey
Clydesdale mare" belonging to a man who offered shelter to Watson and
his family. Watson is alleged to be the last man hanged in Scotland
for horse theft.
Urban legend has it that horse thieves can still be hanged or
sentenced to death in Texas. But unfortunately for those who still
wish to see horse thieves put to death, horse thievery is no longer
acapital felony in Texas. Under Texas Penal Code Section 31.03(e) ,
horse theft is a third-degree felony (2 to 10 years in prison) if the
value of the horses stolen in a single transaction is less
than$100,000. Horse theft in Texas is punishable as a second degree
felony (2 to 20 years in prison) if the horses stolen in a single
transaction are worth $100,000 to$199,999, and a first degree felony(5
to 99 years in prison) if the horses stolen in a single transaction
are worth $200,000 or more. See also Chapter 12 of the Texas Penal
Code .
Pursuant to the U.S. Supreme Court's 2008 opinion in Kennedy
v.Louisiana , the power of any U.S. state to impose the death penalty
against an individual for committing a crime that did not result in
the death of a human victim is now limited to crimes against the state
(i.e., espionage, treason).
But vigilante justice for horse thieves is not completely dead in
Texas. As discussed previously, there are still circumstances under
which a person in Texas could legally shoot or otherwise kill a horse
thief if the person, for example, is a witness to horse theftin
progress and the circumstances warrant the use of lethal force. See
these prior posts:
When is it Legal to Shoot a Trespasser?
How to Deal With Trespassers on Your Property
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