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For years, Richard Dicks has supplied expert advice and representation with the IRS on income tax issues unique to the equine industry. He has also hosted seminars that explain in a simple, straightforward manner how to keep and maintain accounting records that will not only pass muster with the IRS, but will allow those in the equine industry to manage their operations in a financially responsible way.Richard B. Dicks explains the basics of accounting and business simply and effectively. He uses horse business stories and a lot of humor to make the process easy on you. But make no mistake: Richard really knows what he's talking about.
People around the world have turned to Richard for the best accounting strategies to apply to their farms and ranches and Equinomics 101 delivers those strategies in a package that should find a home with everyone who loves horses. It's simple enough for the beginning horseman, and comprehensive enough for a sizeable operation.
Maybe best of all, Richard's ability to take the mystery out of accountingwith good doses of common sense and humorshines through.
-- Robert D. Fry, CPA, Roland, Fry & Warren LLC, Tax Partner, Kingwood, Texas
Richard's advice on the IRS and a hobby vs. business audit as applied to a horse operation is more than worth the price of the Equinomics 101 package. It's a delicate issue on all sides. Yet Richard has the authority of experience behind him. You benefit from it, as you see Richard's opening remarks on the issue:
"When dealing with the IRS on a Hobby versus Business audit, a taxpayer should always remember: tax law does not state that a business venture must be successful to be considered a business--it only states that the taxpayer must make an honest effort to make it so. You must also remember that without an honest effort no business can be expected to be successful, and that the IRS never bothers successful horse operations about the issue of Hobby Loss."It's equine financial management at its best. It's built on Richard Dicks' years of engaging the equine industry as both an expert able to testify regarding fine points of tax law, and as a teacher with a successful track record of explaining farm and ranch accounting to non-accountants.
It's Equinomics 101, a better financial management for your equine business.
Find out how Equinomics 101 can help you meet the everyday challenges of your horse business.