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| Author |
Message |
    
Sarah Rose-McGuire
Member
Username: travelle
Post Number: 2
Registered: 2-2005
| | Posted on Thursday, Feb 28, 2008 - 11:14 am: |   |
Hi All,
I have a question. I am working with a horse rescue and we want to board their rescue horses? We are trying to lower our taxes and need to make a profit of 2500 a year. The rescue does not want to pay us to do this because they have no money. Although I would love to pay for everything myself I can't afford it obviously since I have to care for my own animals. Does any one have any good suggestions on how we can both benefit? Legally of course |
Robert N. Oglesby DVM
Moderator
Username: dro
Post Number: 20148
Registered: 1-1997
| | Posted on Friday, Feb 29, 2008 - 5:57 am: | |
Hello Sarah-Rose,
Instead of going for the business angle, if the rescue group becomes a charity recognized by the IRS you could then deduct the horse's expenses as charitable donations from your taxes...up to a limit. I am unsure of the requirements and rules so you will need to research this or contact a lawyer and a accountant.
DrO |
Tonya Bauer
Member
Username: pbauer
Post Number: 402
Registered: 10-2002
| | Posted on Monday, Mar 3, 2008 - 4:18 pm: | |
Dear Sarah Rose,
Our horse community stands to benefit a great deal from your efforts ( to include all ) involved in this objective. So, I wanted to show my support.
Ohio Pro Bono(done without compensation for the public good) Website:
http://www.ohiolegalservices.org/OSLSA/ProBonoWeb
Find Ohio Legal Help:
http://www.ohiolegalservices.org/OSLSA/PublicWeb/DeskRef/ This link is also from the Ohio Pro Bono Website.
If you are calling within Ohio, you may also use our toll-free number to connect with the legal services office serving your county. Call 1-866-LAWOHIO (1-866-529-6446) for direct access to your local legal services office.
May your endeavors be successful!
My Best,
Tonya |
Melissa Thompson
Member
Username: thomboy
Post Number: 58
Registered: 10-2000
| | Posted on Monday, Mar 3, 2008 - 6:14 pm: | |
Most rescue organizations rely on "foster" homes to care for the animals. The foster home covers the day-to-day expenses of the animal and the rescue covers the medical expenses. Even this type of relationship can get very expensive for both parties. I typically foster 9-10 rescue horses at a time for Habitat for Horses. I pay for the feed, hay, farrier, wormer and any miscellaneous expenses. The rescue pays for the shots, coggins and any other medical expenses. It's kind of like having a horse with medical insurance. I also donate my training for typically about 3 a month. Although I cannot write off the training expense since it only costs me my time, I can write off the other expenses as charitable contributions because Habitat for Horses is a 501.c3 non-profit organization. This is extremely expensive but very rewarding.
If you are looking for a way to make a profit dealing with rescue horses, it is probably not going to happen. The rescue organization has to try and recoup the expenses of the horse in the form of the adoption fee and, unfortunately, people don't want to even pay what the horse is worth because it is obviously "damaged" since it is a rescue. (not my thoughts, but the mentality of 75% of people looking to adopt). Habitat very rarely actually recoups their expenses on any horse since the initial expenses are typically in the $500 range for a semi-healthy horse. That horses adoption fee would typically be set at between $500-$1000 depending on the age, health, abilities, etc. With that fee, the horse will stay with the rescue for a couple of years until we are ready to come down to $300-$500. At that point, they have accrued more expenses just in annual shots and coggins alone. See where I'm going with this? |
Sarah Rose-McGuire
Member
Username: travelle
Post Number: 3
Registered: 2-2005
| | Posted on Tuesday, Mar 4, 2008 - 3:13 pm: | |
Thanks all I think I will probably just help and foster the horses as a donation at this time. It is very rewarding to see them come along
Sarah |
Sarah Rose-McGuire
Member
Username: travelle
Post Number: 4
Registered: 2-2005
| | Posted on Tuesday, Mar 4, 2008 - 3:17 pm: | |
Tonya,
Thanks so much for that information. |
cp
Member
Username: cpacer
Post Number: 463
Registered: 11-2004
| | Posted on Tuesday, Mar 4, 2008 - 3:48 pm: | |
Melissa & Tonya -- can you write off expenses of adoption as well as fostering? Is there a limit to how much you can write off per service (such as on $X per farrier visit, $X per year for vet, $x per bale of hay)? Would you need a receipt from the 501? |
Sarah Rose-McGuire
Member
Username: travelle
Post Number: 5
Registered: 2-2005
| | Posted on Tuesday, Mar 4, 2008 - 4:17 pm: | |
I know before the foster becomes a 501 C 3 you can write off up to 5000 for the rescue (Or the rescue can I believe) after they become 501c3 I believe it's 20,000? There may not be a limit. YOu have to have a reciept for everything.
Sarah |
Tonya Bauer
Member
Username: pbauer
Post Number: 410
Registered: 10-2002
| | Posted on Tuesday, Mar 4, 2008 - 5:28 pm: | |
Dear CP,
We opted to adopt a rescue, and financially foster rescue horses.
So, in regards to your question, I'm sure Sara Rose's information will be able to help you.
My Best to You,
Tonya
 |
Tonya Bauer
Member
Username: pbauer
Post Number: 411
Registered: 10-2002
| | Posted on Tuesday, Mar 4, 2008 - 7:20 pm: | |
Sarah Rose...you are very welcome!! |
Sarah Rose-McGuire
Member
Username: travelle
Post Number: 9
Registered: 2-2005
| | Posted on Friday, Apr 25, 2008 - 12:41 pm: | |
Well just an update - That rescue pretty much shafted me totally - I finally gave them 30 days notice to pick their horse up. All my suggestions, getting a trainer and finding potential adopters they wanted nothing to do with. Now they want me to sign a form saying they owe nothing - well duh - they haven't paid anything etc. I am thinking of not signing.
Long and short of it is - I am in the process of staring my own rescue with a full board of members. Good came out of it. I should have just been wary of them.
I definitely won't recommend them but from what I see they will be defunct soon anyway. Just had to vent. |
Fran C
Member
Username: canter
Post Number: 1459
Registered: 1-2000
| | Posted on Friday, Apr 25, 2008 - 1:02 pm: | |
Sarah Rose, I'm sorry it didn't work out for you, but kudos to you for starting your own rescue and I wish you the very best of luck with it |
