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
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
