The Green Group

Proven Strategies: A Disguised Victory for Taxpayers in the Horse Industry

Additional reporting from Jack Canaley Some will label the recent IRS Case Skolnick v. Commissioner as a win for the government since the court disallowed the deductibility of the losses and classified the operation as a hobby. However, we examined the case in great detail and learned some very valuable lessons that will benefit people in the horse business. The recent ruling, which ultimately was upheld upon appeal by the Third Circuit, provided some clarity and insight into the factors considered in determining the deductibility of losses generated by a...

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Len Green Joins the TDN Writers' Room

Len Green joins this week's TDN Writers' Room to discuss DJ Stables' Breeders' Cup-winning filly Wonder Wheel and to advise on changes that will have implications for horse owners' taxes in 2022.

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HBPA Lawyer Peter Ecabert Joins TDN Writers' Room Podcast to Talk HISA

Is the Horse Racing Integrity and Safety Act (HISA) good for horsemen and, by extension, good for racing? Representing the National HBPA, lawyer Peter Ecabert doesn't think that it is, and he was invited to join the TDN Writers' Room podcast presented by Keeneland to explain why. Ecabert was one of two guests on this week's podcast as Len Green, the founder and chairman of the Green Group, came on to share some tax advice and to talk about his soon-to-be-named champion 2-year-old filly Wonder Wheel (Into Mischief). When asked...

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ARCI'S Ed Martin Joins The TDN Writers' Room

Confusion has reigned ever since an appellate court ruled last week that the Horse Racing and Integrity Act (HISA) is unconstitutional. So what does that mean for the state racing commissions and what should they do going forward? The TDN Writers' Room presented by Keeneland called upon Ed Martin, the chairman and CEO of the Association of Racing Commissioners International to help clear up the situation. Martin was this week's Green Group Guest of the Week. Martin believes that considering the situation HISA should drop the Jan. 1 date and...

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Ask the Expert: 2021 Taxes

Editor's note: Back by popular demand: our column where readers ask The Green Group's Len Green for advice on saving taxes on their equine-related activities. What changes in the tax law can I take advantage of this year to maximize my tax savings? --Kerry L., Lexington, KY 2021 has been another exciting year when it comes to providing new laws that can save you taxes. 1. First-year expensing for qualified property placed in use is allowed up to $1,050,000. This would include the purchase of horses and more fixed assets...

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JPMorgan, Four Corners Racing's Anthony Trimarchi Joins Writers' Room

It was an eventful few days for racing in the northeast, and the TDN Writers' Room presented by JPMorgan Private Bank broke down all of the latest developments in the Monmouth jockey standoff and the raids on Parx barns by the Pennsylvania Racing Commission Wednesday morning. Plus, they welcomed Four Corners Racing's managing partner Anthony Trimarchi as the Green Group Guest of the Week to discuss his experiences as a new owner in the game and the economics of racing from a banking perspective. "I was exposed to racing at...

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Derby Diary: Destination Louisville

We departed New Jersey today-destination Louisville. The flight took almost two hours and thankfully was without incident. But, in reality, the journey to this time and place began almost 40 years ago when my dad tore his Achilles while playing tennis. Back then, the best way to treat a ruptured tendon was to be placed in a cast from your ankle to your upper hip and keep your body as immobile as possible. Well, anyone who knows my dad understands that this directive was going to be short-lived. As someone...

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NBC Racing Analyst Randy Moss Joins Writers' Room

If you've tuned into a major national racing broadcast in the past two decades, there's a good chance you saw and heard Randy Moss. The longtime ESPN horse racing analyst joined NBC in 2011 and has been providing the knowledgeable racetracker's perspective for wide audiences during the network's highly acclaimed coverage ever since. Wednesday, Moss joined the TDN Writers' Room presented by Keeneland to offer his thoughts and opinions on this week's GI Kentucky Derby. Calling in via Zoom live from the Churchill backstretch as the Green Group Guest of...

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De Meric, Finley, Miles, Eisaman Join TDN Writers' Room On Scene at OBS

OCALA, FL--There's been a palpable good feeling all week at OBS for the auction house's marquee Spring 2-Year-Old Sale, and you need look no further than the full parking lot to explain why. Business is booming, but perhaps equally responsible for the positive vibes is the easing of coronavirus restrictions as the country rapidly becomes vaccinated, which means old friends seeing and hugging each other for the first time in a long time. Wednesday morning, Joe Bianca and Jon Green talked about that and much more with four consignors and...

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Steve Asmussen Talks 'Family Horse' Super Stock On Writers' Room

One of the few major races left to win for Hall of Fame trainer Steve Asmussen is the most significant prize in racing, so a win in this year's GI Kentucky Derby would satisfy an ultimate career goal. But if he were to do it with Saturday's GI Arkansas Derby victor Super Stock (Dialed In), a horse with the Asmussen family's fingerprints all over him, it would represent the sentimental success of a lifetime. Wednesday, Asmussen joined the TDN Writers' Room presented by Keeneland to discuss Super Stock, the permanent...

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Todd Pletcher Talks Derby Contenders On Writers' Room

At one point this spring, it was conceivable that soon-to-be Hall of Fame trainer Todd Pletcher would be faced with the unusual situation of not having a GI Kentucky Derby starter. Things change quickly in racing though, as now the seven-time Eclipse Award winner is likely to have four horses in the gate in Louisville and Wednesday morning, he joined the TDN Writers' Room presented by Keeneland to talk about his sudden Derby quartet. Calling in via Zoom as the Green Group Guest of the Week, Pletcher also talked about...

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NBC Racing, Hockey Analyst Eddie Olczyk Joins Writers' Room

It's busy season for NBC's Eddie Olczyk. One of the few analysts on national television to dabble in multiple sports, the popular former hockey star is gearing up to broadcast the GI Kentucky Derby as well as the NHL playoffs this spring, and he joined the TDN Writers' Room podcast presented by Keeneland Tuesday afternoon to discuss it all. Calling in via Zoom as the Green Group Guest of the Week, Olczyk talked about his handicapping strategies, what horses he's eyeing for the first Saturday in May, his ordeal with...

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