By Peter J Reilly, Contributor

Horse breeding is a favorite target of the IRS, when it comes to the hobby loss rules. Nonetheless, breeders will often beat the IRS in Tax Court.  Reading a recent decision I got the sense that William Dodds, a tax accountant, came so close that he could almost taste it.  He ended up losing.  His case is very instructive and is a must read for anyone affected by this issue.  I really hope he appeals. …read more
Source: FULL ARTICLE at Forbes Latest