Proven Strategies
Tax Tips from Len Green of the Green Group.

Proven Strategies: End-of-Year Tax-Saving Tips

In horse racing, the contest is not over until the horse crosses the finish line. The same is true with maximizing your tax deductions and minimizing your taxes. For those who think it is too late to save on your 2020 taxes, we are here to ...

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Proven Strategies: If You are an Independent Contractor, What Tax Deductions Are You Entitled to?

COVID-19 has changed the way we go about our daily lives. It has also increased the number of individuals who are self-employed and have no other employees, also known as independent contractors. The formal definition of an independent contractor is a person or entity contracted to ...

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Proven Strategies: The EIDL Vs. the PPP

In our last article we discussed the Payroll Protection Program (PPP), which the government initiated to cover business-related expenses such as payroll, rent and utilities. But the Government also issued a second (and lesser known) relief program, named the Economic Injury Disaster Loans (EIDL). The good ...

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Proven Strategies: Survival Kit to Help Trainers

Last week, I was listening to the TDN Podcast. The Green Group Guest of the Week was the very successful trainer and four-time Eclipse winner Chad Brown. One of the panelists asked Chad if he was affected by economically by COVID-19, even though he had relationships ...

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Proven Strategies: Sales Cancellations, Insurance and DOL Issues

We are pleased to report we received a number of favorable responses to our first question and answer column. We also received several new questions which we are addressing at this time. Question #1: From a tax point of view, what should we do if the ...

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Ask The Experts: Len Green

Today, we begin a new column where readers are invited to write in and ask our expert Len Green their equine-related tax and accounting questions. Have a question you'd like answered? Email [email protected] Question #1: I am a partner in a racing syndicate. I received a ...

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Proven Strategies & Holiday Sharing: Top 10 Tax Saving Ideas for 2019

It's the "Most Wonderful Time of the Year" filled with family, friends and hopes for a wonderful 2020. During this season of giving, The Green Group would like to share some year-end tax-saving strategies to assist with planning your 2019 tax filing. Prepare a 2019 Income ...

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Proven Strategies: Do We Have a Tip For You

We are on the cusp of the two largest yearling sales--The Keeneland September and Fasig-Tipton October sales. Keeneland is slated to sell over 4,600 yearlings with Fasig scheduled to offer about 1,500 yearlings in their upcoming Kentucky Sale. Currently the yearling market is strong, with record ...

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Proven Strategies: “Hobby” is a Four-Letter Word

The Thoroughbred industry is one of the ways to own a piece of sports. For those of us who enjoy competition but cannot afford the "billion-dollar price tag" associated with the New York Yankees or Dallas Cowboys, "the sport of kings" provides an opportunity to participate ...

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Proven Strategies: The Newly Enacted “Opportunity Zones” Offer Golden Opportunities for Tax Savings and Deferrals

There is an exciting new Tax Law that could: 1. Defer the paying of taxes. 2. Reduce your taxes. 3. Provide a new and exciting way to invest your previous sales proceeds and eventually, if the new investment is profitable, sell the new investment and not ...

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Proven Strategies: Tips & Techniques to Make You More Profitable

A popular joke in the world of horse racing is, "it's easy to become a millionaire-- just start out a billionaire!" However, it is obviously not that simple. The Green Group has been working in the equine industry for over 30 years, advising people on how ...

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Best Results for Buying 2-Year-Olds

Working with clients in the horse industry for over 35 years, we have been exposed to a great deal of both successful and failed approaches by owners in all areas of their equine business. With this knowledge, we have been able to provide buyers with the ...

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