General Discussion

magical thyme

(14,881 posts)

46. they *claimed* the deduction. The IRS allowed $49.00 for this year.

Sun Jul 29, 2012, 08:28 PM

Jul 2012

Any future deductions will be incremental and depend on any profits or losses.

Look, I get that *totally.* They are super-rich and they can take advantage of tax laws intended for real businesses, not hobbies that provide convenient losses for other businesses. And that is not right.

But they may also be getting a lesson that making an actual profit in the horse business is not as easy as it looks, no matter how much money you have to throw at it.

They have invested in the purchase, training, competition and care of an Olympic horse over the course of many years. That's a huge expense. Any profit will be from the sale of the horse, and if there is no profit, they lose their business status and she becomes a hobby, plain and simple.

Their business partner, Ebeling, is *paid* to train, to teach, to provide care to horses other than the Rafalca, as well as to select and purchase and sell horses for clients other than the Romney's, along with Ann's personal horses. He has horse business income they do not have.

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It's past time to end the "pony envy" [View all] magical thyme Jul 2012 OP

um...STRONGLY disagree. *FUCK* the GOP **and** the HORSE THEY RODE IN ON. nt LaydeeBug Jul 2012 #1

Not every rider is a member of the GOP. xmas74 Jul 2012 #4

I was trained in a few of the foundation points of dressage... antigone382 Jul 2012 #15

Wow! You sure know how to add value kurtzapril4 Jul 2012 #54

K&R. The equestrian events were added in 1912 when the 99% rode horses riderinthestorm Jul 2012 #2

I'm going to have to disagree with you there Retrograde Jul 2012 #50

Just a tiny bit of bad luck and maybe Rafalca/Ebeling will fail spectacularly. magical thyme Jul 2012 #104

This is why DU is a beautiful place DefenseLawyer Jul 2012 #3

The poster in the OP rides xmas74 Jul 2012 #9

ah anybody can ride a horse that hops on two legs.. snooper2 Jul 2012 #86

No, it's because a lot of us know one or two things about dressage... antigone382 Jul 2012 #16

But who cares? I don't!! cilla4progress Jul 2012 #67

Sure, and ultimately I know there's nothing to be done about it. antigone382 Jul 2012 #73

I agree! And I'm a diehard lefty cilla4progress Jul 2012 #113

I enjoy the fun-poking, the "horse prom," the "horse they danced in on," etc. magical thyme Jul 2012 #130

Likewise, there is nothing too petty, inconsequential, idiotic, pointless or downright (edited) A HERETIC I AM Jul 2012 #45

Beautiful horse (course I say that about every horse I see!) cilla4progress Jul 2012 #69

+1 n/t lumberjack_jeff Jul 2012 #71

+1,000 MADem Jul 2012 #141

k&r HappyMe Jul 2012 #5

I've watched it at county fairs xmas74 Jul 2012 #62

Tell Mitt BeyondGeography Jul 2012 #6

My problem with them is that they write her hobby off as a business Marrah_G Jul 2012 #7

They do run a legitimate business - training, boarding, breeding, sales. riderinthestorm Jul 2012 #10

I think there is a big difference between what you do and what they do Marrah_G Jul 2012 #11

Nope. None. I've seen Ann Rmoney at events riderinthestorm Jul 2012 #13

"Granted, they are doing it at a much higher level and expense" DCBob Jul 2012 #44

Do you do it primarily to make a profit? lumberjack_jeff Jul 2012 #70

She has to make a profit to be structured as a business or get hit by the IRS riderinthestorm Jul 2012 #81

Don't they write it off as "therapy" ? KurtNYC Jul 2012 #90

No. Her riding therapy is her private riding on her private horses. magical thyme Jul 2012 #101

They were eligible for a $50 deduction. Is it really that big a deal? nt hack89 Jul 2012 #47

yes it is when those fuckers make millions upon millions it is!!! gopiscrap Jul 2012 #115

They did not make millions and millions off their horse business. riderinthestorm Jul 2012 #123

No one I know can afford hobbies like this... Comrade_McKenzie Jul 2012 #8

it's not hating, it's teasing Enrique Jul 2012 #12

sometimes yes; sometimes no magical thyme Jul 2012 #18

Correct nadinbrzezinski Jul 2012 #14

I don't... one_voice Jul 2012 #17

Plus twothousandgazillion! peacebird Jul 2012 #20

Hate her! I'm sorry. Am I bad for that? cilla4progress Jul 2012 #72

My "pony envy" is the $77K tax writeoff mittens got for the horse. peacebird Jul 2012 #19

Easy enough. Cerridwen Jul 2012 #23

I have an up and coming akc hunting dog, can i write off his food&training&expenses? peacebird Jul 2012 #25

Depends whether it's a hobby or a business. Cerridwen Jul 2012 #27

and if you're able to do this gopiscrap Jul 2012 #118

Some people believe that sponsoring these ancient arts has value riderinthestorm Jul 2012 #122

That would be wonderful! xmas74 Jul 2012 #129

+ a billion or so. Why don't the Romneys support therapeutic riding programs? magical thyme Jul 2012 #145

they *claimed* the deduction. The IRS allowed $49.00 for this year. magical thyme Jul 2012 #46

It was $50, not $77K. hack89 Jul 2012 #48

I know several people who do or did dressage, and a few who will be at this year's Olympic Bluenorthwest Jul 2012 #21

But what about the children? FLyellowdog Jul 2012 #22

Equestrian Sports are expensive, but so is skiing. Taverner Jul 2012 #24

Polo isn't that expensive. Warpy Jul 2012 #29

I've never been able to finagle an invite to Myopia AngryAmish Jul 2012 #146

Skiing is dirt cheap at Mars Hill in northern Maine. MADem Jul 2012 #38

Oh I know. I like semi-local ski area Dodge Ridge Taverner Jul 2012 #51

At Mars Hill they have free skiing one night a week. MADem Jul 2012 #55

Yeah. I remember seeing lots of lectures about how elitist hockey was in '08 Posteritatis Jul 2012 #109

Where I live, people play hockey in their backyard! MADem Jul 2012 #112

Yeah, same here Posteritatis Jul 2012 #116

+1,000 MADem Jul 2012 #121

In some places it's different. laundry_queen Jul 2012 #155

Heck, even regional level swimming is expensive. xmas74 Jul 2012 #63

Exactly. laundry_queen Jul 2012 #156

I told my daughter that I would find the money somehow if she wanted to stick with it. xmas74 Jul 2012 #158

And don't get me started on how expensive equestrian water skiing is! JVS Jul 2012 #169

I reject the term "pony envy" and the idea that it is really about envy fishwax Jul 2012 #26

I wanted one until I went to summer camp at the age of 11 Warpy Jul 2012 #28

I can understand that magical thyme Jul 2012 #75

No "pony envy" here. Just Mitten Bitten. nc4bo Jul 2012 #30

I have six horses. I guess 5 horses and a donkey. Blanks Jul 2012 #31

BS vin Jul 2012 #32

Wow, a member since 2001 and this is your first comment? TBF Jul 2012 #34

Most people don't grow up with pony envy. zeemike Jul 2012 #33

you can love the animal *and* love the sport.They aren't mutually exclusive. magical thyme Jul 2012 #40

No offence please...I am sure you love your horses. zeemike Jul 2012 #80

Every dressage movement is something a horse does in the wild, on their own riderinthestorm Jul 2012 #82

dressage is not unnatural and is not painful magical thyme Jul 2012 #88

Good grief she rode some beautiful horses! loudsue Jul 2012 #35

it is not ENVY handmade34 Jul 2012 #36

Bullshit. False premise. We didn't pay nearly eighty grand so Jackie/Caroline could trot around. MADem Jul 2012 #37

I don't understand your post. Cerridwen Jul 2012 #42

If you don't understand it, I urge you to read it again. MADem Jul 2012 #53

Wow. Cerridwen Jul 2012 #56

Wow. MADem Jul 2012 #60

Agreement? No. Cerridwen Jul 2012 #61

Why do you think I am angry? I am not. Not in the slightest. MADem Jul 2012 #65

More, very similar feedback woo me with science Jul 2012 #78

You didn't pay $77k. You paid $50. That's all that was allowed. Fifty bucks. riderinthestorm Jul 2012 #83

The absolute nerve of those one percenters to even try to get a dime out of the taxpayers is what MADem Jul 2012 #124

She has a legitimate business and if you don't like the tax code for that, take it up with the IRS riderinthestorm Jul 2012 #132

No--I will continue to assert that her "legitimate" business is a bullshit hobby. MADem Jul 2012 #137

Horses aside, your post is really about "envy" - TBF Jul 2012 #39

I am not defending the Romneys, and am sorry you so misunderstand my post magical thyme Jul 2012 #89

How Ann treats her MS is not at issue here. TBF Jul 2012 #96

I did not write "you are all just jealous of the Romneys" magical thyme Jul 2012 #98

I think you did with that choice of words - TBF Jul 2012 #140

then it was a poor choice of words, and for that I apologize magical thyme Jul 2012 #143

Ah, interesting - TBF Jul 2012 #150

I would see it as redeeming if I felt her involvement were not so selfish magical thyme Jul 2012 #154

This message was self-deleted by its author devilgrrl Jul 2012 #157

The price of humor Godot51 Jul 2012 #41

I just bought a Pony two days ago! Archae Jul 2012 #43

It just goes to show you that republicans ruin everything they touch. gtar100 Jul 2012 #49

thank you for getting my point! magical thyme Jul 2012 #76

Some democrats ride, some own/shoot guns, some smoke, it used to be a big tent The Straight Story Jul 2012 #52

It still is a big tent. It's way more tolerant of differences than it was fifty years ago. MADem Jul 2012 #59

Ya know, I agree The Straight Story Jul 2012 #77

And freedom of speech is a biggie on that list, too. MADem Jul 2012 #114

Who would move to a non pony country? -..__... Jul 2012 #57

First thing that came to my mind. Union Scribe Jul 2012 #87

Very good! Puglover Jul 2012 #58

I Don't Have Pony Envy, But The RMoneys are obnoxious AnnieBW Jul 2012 #64

I moved out west from tony western NJ cilla4progress Jul 2012 #66

Sorry. $77,000 in tax breaks for horse expense isn't a hobby, it's a scam. n/t lumberjack_jeff Jul 2012 #68

They got $49.00 in tax deductions. magical thyme Jul 2012 #74

+++ cherokeeprogressive Jul 2012 #85

This post really makes me miss the unrec. n-t Logical Jul 2012 #79

I really appreciate all the wonky expertise (on just about any subject) here eridani Jul 2012 #84

OK, but the Kennedys are rich people treestar Jul 2012 #91

and they are democrats. magical thyme Jul 2012 #99

Nobody is really tearing it down treestar Jul 2012 #110

You can often find older horses for a very reasonable price, xmas74 Jul 2012 #133

If Romney's horse beat the competition at the olympic qualification matches JustABozoOnThisBus Jul 2012 #92

Any sport that can be done with a beer in one hand is a great sport. magical thyme Jul 2012 #102

So the Romneys are trying to be the Kennedys? Kennedy Envy! KurtNYC Jul 2012 #93

It's nice that some 1% sponsor some nobodies. JNelson6563 Jul 2012 #94

I learned FEI movements on somebody else's fully trained horse magical thyme Jul 2012 #106

So you validate my points. JNelson6563 Jul 2012 #107

I did NOT muck out the stables of the 1%. That is my point. magical thyme Jul 2012 #120

" Olympic competition is a sport of the 1%. Dressage in and of itself is not." riderinthestorm Jul 2012 #125

" DUers getting unhinged because Ann Rmoney..." 99Forever Jul 2012 #135

Back then, the rich paid more than their fair share of taxes--really!! The tax rate on the wealthy MADem Jul 2012 #138

After ... 99Forever Jul 2012 #95

the tried to take a $77K deduction. They were allowed a $49 deduction magical thyme Jul 2012 #103

Frankly... 99Forever Jul 2012 #105

I'm not defending elitist scum like the Romney's. I'm *condemning* them. magical thyme Jul 2012 #108

I have no problem with dressage or horse folks Marrah_G Jul 2012 #131

I'm gonna go out on a limb here... Marrah_G Jul 2012 #128

not very far out on that limb.... magical thyme Jul 2012 #136

Hahahahaha Marrah_G Jul 2012 #161

I rode my great grandpappy's mule once. CBGLuthier Jul 2012 #97

Oh, so now I'm just lealous of how rich they are? Iggo Jul 2012 #100

Why would you assume any of us were envious of their lifestyle of expensive prancing TwilightGardener Jul 2012 #111

for a couple reasons magical thyme Jul 2012 #134

Pony envy? <<<pfffft!>>> Horses were never anything but a pain in the ass Zorra Jul 2012 #117

Oh, for fucks sake Tsiyu Jul 2012 #139

Yup. nt riderinthestorm Jul 2012 #142

Wow. What a nasty, uncalled for post and horrible misdirected personal attack. Zorra Jul 2012 #163

You made the statement Tsiyu Aug 2012 #170

careful there. Someone could mistake you for Ann Romney magical thyme Jul 2012 #149

Yes. It was meant as "reality based black humor". Zorra Jul 2012 #165

"black humor" can get you into big trouble on the internets magical thyme Jul 2012 #168

This message was self-deleted by its author devilgrrl Jul 2012 #119

No fooling. 99Forever Jul 2012 #127

Every horse or pony I've ever owned I rode bareback and had a place to go in mind when I got on so lonestarnot Jul 2012 #126

I had a pony. This isn't "envy." It's disgust. Atman Jul 2012 #144

The $77K deduction was denied. $49 was allowed. magical thyme Jul 2012 #147

They'll have another shot at claiming tax deductions on their 2012 return. Atman Jul 2012 #148

You keep runnung that meme. 99Forever Jul 2012 #151

I own and operate the exact same dressage (and CT) business as the Rmoneys and Jan Ebeling riderinthestorm Jul 2012 #152

b.s. I've written that in all likelihood their so-called biz will end up declared a hobby magical thyme Jul 2012 #153

This message was self-deleted by its author TBF Jul 2012 #159

For folks who are interested in horses and the Olympics - TBF Jul 2012 #160

I'm terrified of horses and Republicans... Phentex Jul 2012 #162

lol, nope, never dreamed of having a pony quinnox Jul 2012 #164

I know three liberal Democrats who love riding horses. BlueCheese Jul 2012 #166

I stagger around a lot when I'm drunk. I call it Dressage, and I want a $70K writeoff. Fire Walk With Me Jul 2012 #167