Posts made in May, 2015

Arabian Horse Farm Loses Millions of Dollars (tax case)

Posted by on May 8, 2015 in News | 0 comments

A Significant Victory in a New Tax Court Case By John Alan Cohan, Attorney at Law       A new Tax Court case involved several million dollars of losses from 2004-2009 in an Arabian horse farm owned by Henry and Christie Metz.  [Metz v. Commissioner,T.C. Memo. 2015-54.] The Metzes specialize in Straight Eqyptians, and established their horse farm in 1991, at a time when prices of quality Arabians had dropped significantly from the 1980s.  The Metzes believed that prices had reached their bottom. Mrs. Metz worked full-time on farm advertising, marketing and promotion, drawing on her fine-arts background.  In 1995 the taxpayers bought a farm in Naples, Florida for...

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