One for the Little Guys - by Eric Mitchell

re: One for the Little Guys - by Eric Mitchell

Vita — Sat, 26 Apr 2014 14:52:32 GMT

During the time I was Charlsie Cantey's assistant one of her owners was Stefan Tolin. One of the horses we had in our charge was Choosing Choice. There was no owner more dedicated to his horses than Stefan. Though he lived in Minnesota, you would have thought he lived somewhere close in the state of Maryland. He was always there at the barn, even showing up on Christmas Eve. Always talking about and asking questions about his horses.

I'm glad to hear he won his fight with the IRS, but I was saddened to read that he is no longer in the thoroughbred horse industry. There was no owner more knowledgeable, or dedicated to his horses and this industry, in all facets than Stefan. My hats off to you Stefan. You are the kind of owner this industry needs and the IRS should be ashamed of itself for doing to you what it did.

re: One for the Little Guys - by Eric Mitchell

Old Old Cat — Wed, 16 Apr 2014 21:05:49 GMT

Much like Phyllis Wyeth. Family in the business for well over 50 years, owner of a farm that breeds her own horses, having to sell her favorite, Union Rags, in order to show a profit for the year to satisfy the IRS. When the IRS puts horse people out of business, it's the tail wagging the dog. The IRS is in existance to follow laws, not make them. If the horse business is a hobby, just because it's fun, then money coming in is not really income, and should not be taxed at all.

I wonder how far that thought will fly.

re: One for the Little Guys - by Eric Mitchell

Fred and Joan — Tue, 15 Apr 2014 16:31:35 GMT

What a shame that Mr. Tolin had to sell all of his horses and suffered health problems because of his rough experience. He obviously spent hours of work trying to market his homebred stallion, Choosing Choice. If an attorney can have these kinds of major problems with tax law, then there is clearly some revision work needed in the law! In our operation we are hands on EVERYDAY as our herd of thoroughbreds lives with us and we have much daily handling of the stallions, broodmares, foals, yearlings etc. Fred and Joan.