Help Celebrate Day of the Horse

AHC President, Julie Broadway, to serve on International Advisory Board 

The American Horse Council is pleased to announce that President Julie Broadway has been added to the International Advisory Board of EUNetHorse.

EUNetHorse is an international group that is researching ways to improve the resilience and performance of horse farms in Europe. Eleven countries including Belgium, Finland, France, Germany, Great Britain, Poland, Portugal, Romania, Spain, Switzerland, and the United States will share their experiences and insights on important issues such as:

• Climate change and resource management
• Animal welfare
• Sanitary crisis
• Social and economic crisis

“It’s an honor to be asked to represent the United States and to serve with leaders from across Europe on this important issue,” states Broadway. “I look forward to our collaboration and the development of ideas and solutions that could benefit everyone.”

Broadway has over 30 years of leadership experience in both for-profit and non-profit sectors.

She’s a lifelong horse enthusiast ranging from recreational rider to breeder and show competitor. In her years in the equine industry, she has built a network of partners and colleagues to draw from on issues such as those EUNetHorse is seeking to address. She also has strong contacts across the livestock, animal, sports, and association spaces. She has led and volunteered on numerous nonprofit boards and is a past president of PATH International and is currently on the group’s Credentialling Council. She was named President of the American Horse Council in 2016, where she leads the group’s mission to advocate for the social, economic, and legislative interests of the equine industry in the United States.

EUNetHorse is funded by Horizon Europe (a research program of the European Union Commission) and will focus on the transfer of knowledge over a four-year period through several workshops, leading to a series of factsheets, video and tools.

To learn more about the other members on the American Horse Council staff, visit:  AHC Staff Members

To learn more about the American Horse Council, visit:  www.horsecouncil.org

Things to Know Before You Donate: Holiday gift-giving and tax deduction tips in 2023
By: Brigid Shea,  American Horse Council 

We’re moving into the holiday gift giving season to be followed shortly by the tax season. One season is fun. The other? Not so much. However, each season holds opportunities for everyone. Whether you’re searching for last-minute tax deductions for 2023, or just feeling charitable with the holiday season, the American Horse Council (AHC) shares some holiday gift-giving and tax deduction tips in 2023.

Rehoming or Gifting of Personal Horses

Are you thinking about rehoming a horse, whether for a second or third career, via donation to a school or therapeutic program?

You can earn a tax deduction, while helping a new generation of riders, by donating a horse to a qualified charitable organization. Many schools with equestrian programs and therapeutic riding organizations rely on donations of horses for their programs. The decision to donate your horse to a charitable organization can be rewarding for you, your horse, and the charity. The AHC recommends you vet out the programs you’re looking to donate by making personal visits and discussing with other horse owners who have done the same.  

Financial Donations or Contributions

Year-end donations and celebrations of Giving Tuesday will see many nonprofits asking followers on social media for donations to help fulfill needs that funding lacks. According to Charles Schwab, charitable deductions can reduce your taxable income, if you itemize your taxes. However, overall deductions for donations are usually limited to 50% of your adjusted gross income (AGI). 

What’s in the Works  

The U.S. government is working to help horse owners with their potential income and year-end taxes. There is hope for the adoption of legislation introduced by Representative Andy Barr (R-KY-6) and Congressman McGarvey (D-KY-3) to incentivize investment in the horse racing industry. The Race Horse Cost Recovery Act of 2023 would make the three-year depreciation schedule permanent for racehorses, regardless of their age when put into service. Currently, Congress must reauthorize this provision in the tax law on an annual basis. Their other bill, the Racehorse Tax Parity Act, would reduce the holding period for equine assets to be considered long-term capital gains. This puts them on a level playing field with other similar assets. 

 

Regardless of the scenario, it is crucial to understand and apply the Internal Revenue Service’s (IRS) requirements and guidelines: 

Tips for Donations

For a charitable donation of a horse, make sure you are donating to a qualified charity. To check the status of a charity, use the IRS’s Tax Exempt Organization Search tool. Then determine the fair market value of your horse. Taxpayers seeking a deduction of more than $500 must also complete and file with their tax return IRS Form 8283.  

 

Form 8283 requires the taxpayer to disclose:  

1. 1. how the horse was acquired,
2. 2. the date of acquisition (approximate), and 
3. 3. the cost basis of the horse. 

 

In addition, if the deduction is greater than $5,000, the taxpayer must obtain a written appraisal by a qualified appraiser. (The IRS has requirements as to the qualifications of the appraiser and the timing of the evaluation.) 

 

Looking to maximize your tax deduction? The horse must be used by the receiving charity in connection with the charitable purpose for which it was formed. If a horse is donated to a charity that, in turn, uses the horse in a manner unrelated to its charitable purpose, (for example, selling for cash) then the donor taxpayer can deduct only their basis in the horse, which is usually the purchase price, less any depreciation. (The basis in a homebred horse would be zero.)  

 

Always establish a paper trail.  

Keep records of:  

• Name and address of the charity,  
• Date of the donation,  
• Location of the donation,  
• A description of the horse in detail reasonably sufficient under the circumstances,  
• The fair market value of the horse at the time of donation, and  
• The method used to determine the value, including a written and signed appraisal, if used or required,  
• And the terms of agreement relating to the horse’s use or disposition. 

 

Request a written receipt. Ask the charity for a tax receipt if the horse is worth more than $250, but less than $5,000. The document receipt must include a description of the horse, a statement concerning whether any goods or services were provided to the donor by the charity in exchange for, in whole or part, the horse, and a description and good faith estimate of any value or services given by the charity in exchange for the horse.  

 

Do the math. There are many factors affecting the amount a taxpayer can receive as a deduction. For example, when a horse eligible for capital gain treatment has been depreciated and is donated to a charity, the amount of the gift is the value of the horse reduced by the amount of depreciation that has been taken. Section 170(e) of the Internal Revenue Code lists these exceptions, including horses eligible for capital gains treatment and a donation to a charity that does not relate to the charity’s exempt purpose. Another important rule to keep in mind is the horse must have been held by the donor for 24 months for sporting, breeding, or draft purposes prior to gifting it to maximize benefit to the taxpayer. You can see the rules on depreciation here. Tax guidance specific to farm and agriculture can be accessed at this site. 

 

The American Horse Council strongly recommends consulting with a qualified tax professional. This commentary is provided for general informational purposes only and does not constitute financial, investment, tax, legal or accounting advice. 

The AHC has several tax professionals as members who would be happy to assist with any tax questions on all aspects of horse ownership. Please contact info@horsecouncil.org for a listing.  

For more information about the American Horse Council.  Check out www.horsecouncil.org

For more information about the United Horse Coalition:  Check out www.unitedhorsecoalition.org.

 

Contact: Megan Arszman
United Horse Coalition

Phone: 202-296-4031
Email: media@horsecouncil.org

FOR IMMEDIATE RELEASE
November 9, 2023

 

United Horse Coalition Launches Membership Drive Contest

 

The end of the year is the perfect time to make a change and make a difference. Why not end the year on a more colorful note while supporting the United Horse Coalition (UHC)?

 

The UHC is hosting their membership drive as a reminder that each organization in our industry, no matter their capacity, or mission, can support horses that are at-risk or in transition. Now through December 14, any new membership with the UHC is eligible to win a little extra something to support their cause.

 

New members (or returning after more than two years) joining as a registered 501c3 rescue or sanctuary at the Non-Profit Membership level, will be entered into win a gift card for $250 from Sherwin Williams.

 

New members (or returning after more than two years) joining at the Full, Associate or Supportive level are eligible to win a $100 gift card from the American Horse Council.

 

“Because the UHC relies solely on our membership fees to continue the work we do, your support through your membership with the United Horse Coalition is critical to ensure the viability of the valuable resources we provide to the equine industry as a whole,” says Ashley Harkins, director of the UHC.

 

The UHC is a neutral entity and broad alliance of equine organizations that have joined together under the American Horse Council to educate, advocate, and collaborate industry wide on solutions to the issues that surround our nations at-risk horses and those in transition. The work that UHC does, ensures that every horse owner has access to the resources they need to keep their horse(s) safe at home should they fall on hard times, or barring that, help provide options to rehome their horse responsibly, ensuring that no horse need be put in a situation where they become at-risk. In addition to these essential resources, the UHC provides free presentations and educational materials to current and prospective equine owners on responsible horse ownership and breeding, estate planning, preparing for euthanasia and aftercare, responsible rehoming options, and more.

 

In supporting the UHC, you support providing resources and responsible options for horse owners who need our help the most, while helping to keep our industry alive and well. Your membership helps to provide resources to horse owners, who may even belong to your own clientele, member base or organization. The resources that UHC offers are free and are critical to ensuring the wellbeing of horses (and their owners) across every discipline throughout the entire equine industry.

The UHC is also home to the UHC Equine Resource Database as well as the Equine Welfare Data Collective–a collaboration that accumulates, analyzes, and reports data to enhance programming for transitioning and at-risk equines. The data found in the EWDC reports help us as an industry to have a better understanding of the true nature of what is really happening out there, not just anecdotally. The work UHC and EWDC accomplish on such a tight budget within the equine industry is no small achievement, and we are proud that the industry looks to, and trusts, the data supplied in these reports. This data is used to drive positive change and help organizations to improve their effectiveness across the industry in an effort to make lasting forward movement for at-risk equines and those in transition. Both the UHC and EWDC utilize the UHCERD in their daily work to help advance their respective missions within the equine industry.

To help us, help the equine industry, and the owners who need our support the most, please consider becoming a United Horse Coalition member organization: https://unitedhorsecoalition.org/become-a-member/

 

The contest is sponsored by the American Horse Council and the United Horse Coalition. No purchase is necessary to enter or win, and all legal residents in the 50 states of the United States and the District of Columbia are eligible.

 

Limit one entry per organization, per email address and per household. The winner will be selected and announced on or about December 16. The UHC will attempt to notify the winner via telephone or email, and if the potential winner cannot be contacted within five business days after the first attempt, the UHC will select an alternate potential winner.

 

-30-

The United Horse Coalition is a broad alliance of equine organizations that have joined together under the American Horse Council to educate the horse industry about the issues facing horses at-risk or in transition. We seek to provide information for existing and prospective owners, breeders, sellers, and horse organizations regarding the long-term responsibilities of owning and caring for horses, as well as focusing on the opportunities available for these horses. Learn more at unitedhorsecoalition.org

 

About the American Horse Council 

As the national association representing all segments of the horse industry in Washington, D.C., the American Horse Council works daily to represent equine interests and opportunities.

 

 

 

AHC Presents Quarterly Webinar: Is My Barn a CAFO? What is a CAFO? 

 

If you’re reading the headline and wondering, “What is a CAFO?” right now, you’re not alone! A CAFO is a concentrated animal feeding operation, and it is a hot topic as federal efforts focus on expanding regulatory efforts surrounding environmental sustainability and climate impacts related to agriculture.  

 

The American Horse Council quarterly webinar series is hosting “Is My Barn a CAFO? What is a CAFO?” November 13^th  at 1 pm EST. This free webinar will be an opportunity to learn all about Concentrated Animal Feeding Operations (CAFOs) and how they apply to the horse industry.  

 

CAFO permitting is an environmental regulatory process with federal and state level oversight with potential for impact on equine facilities of all sizes across the country. CAFO permitting processes can be confusing to navigate, do CAFO rules apply to your operation? How do you find out? How might these rules impact your facility design and operation? What are potential financial implications associated with compliance? Attend the webinar and find out! 

 

“This webinar is an important step to understanding how to navigate the often-complicated landscape of federal and state regulatory efforts and will give landowners knowledge to better protect both themselves and their operations while promoting the health of their property and their horses in the long run,” says Emily Stearns, AHC Health, Welfare, and Regulatory Affairs Liaison. 

  

To register for the webinar, send an email to info@horsecouncil.org by November 11^th, with the subject line “Horse CAFO Webinar.”