The Legit Ledgers Blog
Commonly Confused Equine Expenses: Business VS Personal
There's a lot of confusion surrounding many of the expenses that can be taken as tax deductions where horse businesses are concerned. Here are a few that are commonly confusing for business owners. ...more
Equine - Tax Tips ,Business Owners &Equine Bookkeeping
December 23, 2024•3 min read
Why Hire an Equine Bookkeeping Professional
As an equine professional, your expertise lies in delivering exceptional services/horses to your clients. Managing your finances can divert your focus from your core business. Hiring an equine-special... ...more
Business Owners ,Equine Bookkeeping
November 25, 2024•2 min read
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
