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  1. #1
    Join Date
    May. 12, 2005
    Location
    Oahu, Hawaii until we return to the Appling, Ga farm.
    Posts
    914

    Default Dressage related (sort of): Benefactor to Dressage Trainer

    I have funded several endeavors for my horse trainer to include fees for steffen Peters clinic, paid for website, and other business related items. Am I allowed to write this off on my taxes?
    I would honestly say that all of my contributions only total around 4k.
    "Lose your temper, lose your horse" -someone wise enough to know better than to pick a fight with a 1200 lb animal that could launch you to the moon.



  2. #2
    Join Date
    Jan. 31, 2003
    Posts
    18,472

    Default

    Is she a non-profit? If not, the answer is no.
    "Kindness is free" ~ Eurofoal
    ---
    The CoTH CYA - please consult w/your veterinarian under any and all circumstances.



  3. #3
    Join Date
    Nov. 14, 2002
    Location
    Sorta near the Devon Horse Show grounds...
    Posts
    4,044

    Default

    You could possibly write it off as a business expense.
    When someone shows you who they are, BELIEVE them- Maya Angelou
    www.americansaddlebredsporthorse.net
    http://www.asbsporthorse.blogspot.com/



  4. #4
    Join Date
    Jul. 19, 2001
    Posts
    8,542

    Default

    yes, if for example your business is selling horses and if these expenses were directly related to the training of the sales horses, they may be claimable as business expenses depending on your tax laws_.

    You should discuss with your accountant (if you have one)



  5. #5
    Join Date
    Jan. 25, 2001
    Posts
    1,354

    Default

    I think you could support your trainer through a donation to The Dressage Foundation and it could be ear-marked for him/her specifically. Then it would be tax deductible.
    "Dreams are the touchstone of our characters." Henry David Thoreau
    Touchstone Farm
    www.bytouchstonefarm.com



  6. #6
    Join Date
    May. 12, 2005
    Location
    Oahu, Hawaii until we return to the Appling, Ga farm.
    Posts
    914

    Default

    great idea!
    "Lose your temper, lose your horse" -someone wise enough to know better than to pick a fight with a 1200 lb animal that could launch you to the moon.



  7. #7
    Join Date
    Sep. 12, 2007
    Posts
    503

    Default

    I would look into that more closely. Because tax deductible donations must be made to an institution, not an individual, our particular 501c3 can not ear mark funds for a private individual. You can make a donation restricted to a scholarship or a program, and an individual can apply for that scholarship or program.

    Giving funds to a charity to give to specific individual in order to get a deduction sounds a little fishy to me. However, the Dressage Foundation may be different, so let me know what you find out.



  8. #8
    Join Date
    Jan. 25, 2001
    Posts
    1,354

    Default

    I'm pretty sure there is a way to do it. I know someone who has benefited from this kind of arrangement through TDF -- and the benefactor has benefited too, in terms of a tax deduction. I'm no expert, obviously, and there is a lot more to it than what I have mentioned, but TDF can answer any of your questions. That's what they do!
    "Dreams are the touchstone of our characters." Henry David Thoreau
    Touchstone Farm
    www.bytouchstonefarm.com



  9. #9
    Join Date
    Oct. 10, 2005
    Location
    in the saddle
    Posts
    4,149

    Default

    PM to coth member MBM, she knows/does Taxes.

    There is a very thin line between deducting expenses as business related expense or as hobby related expense. Be extra careful with it and always double check with your accountant.

    May be it can be deductable under the "sponsorship" if the trainer did display your business logo and gave your a credit for your money - and that is if you have a horse related business. For example if your logo was displayed on the saddle pad during the SP clinic and you have a documentation from the trainer that you did pay for her, may be a program with print that your trainer is "sponsored by ... your business" If not, I dont know...

    But I do know that its only the money/products that you can deduct. You cant deduct any of your time, like the time that you donated making a website for your trainer, but I might be wrong.



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