The Legit Ledgers Blog
Horses: Fixed Asset or Inventory?
Do you ever wonder if your horses should be classified as fixed assets or inventory? This important distinction can play a key role in your how your taxes are reported each year! ...more
Business Owners ,Equine Bookkeeping
September 25, 2024•3 min read
What You Didn't Know About 1099s - Vendors need them too!
Many of the vendors you use such as vets, farriers, chiropractors, stable owner's etc. need 1099-NECs at year-end. Don't give the IRS a reason to come after you! Use our free guide to determine who yo... ...more
Equine - Tax Tips ,Business Owners
August 30, 2024•4 min read
Are My Barn Workers Contractors or Employees?
Avoid the headache, penalties, and lawsuits by determining if your horse barn workers are contractors or employees by using the guidelines provided by the IRS. ...more
Equine Bookkeeping
July 30, 2024•3 min read
Checklist for Keeping Your Horse Business's Bookkeeping on Track
With how busy your horse business keeps you, how can you possibly remember every single bookkeeping task you need to do regularly to stay compliant, keep tax season simple, and analyze your business's... ...more
Equine Bookkeeping
July 11, 2024•1 min read
Four Simple Ways to Start Your Small Business Off on the Right Foot
When making a new business official, you don’t always have funds available to hire a bookkeeper/accountant to show you the ropes for how to keep your business compliant and out of trouble with the IRS... ...more
Business Owners
April 27, 2022•3 min read
14 Tax-Deductible Expenses for Veterinarians
If you spend day in and day out caring for the animals who come to you for help, you don’t have the time to waste researching all the ways you can save on taxes for the year. Discover 14 tax-deductibl... ...more
Verterinarians
April 05, 2022•5 min read
