Horse and Cattle law can be very complex and intimidating to the average livestock owner. That’s why the Law Offices or John Alan Cohan is here to help. Mr. Cohan has been a specialist for over 30 years dealing with legal matters in the horse and livestock industries. Mr. Cohan is author of a legal column that appears in a large number of equine and livestock publications, both in print and online, and he can put his experience to work for you.
Often enough, people in the horse and livestock industries need help with complicated tax matters. Owners and breeders are disproportionately audited by the IRS under the “hobby loss” rule of Section 183 of the Tax Code. Refer to our tax law section of our blog for more information.
Livestock law is rarely straightforward and easy to interpret. This is why you need a qualified attorney who is experienced in horse and livestock tax matters. Mr. Cohan has represented a large number of clients in the horse and cattle industries regarding their complicated tax situations as well as other types of livestock related legal issues.
Contact experienced livestock lawyer John Alan Cohan for a free consultation.
Speak with Mr. Cohan about your horse & livestock tax situation
Equine and Cattle Law Can be Complicated
Plan Ahead with an Equine Attorney
For the horse and livestock industries, IRS Regulations have been an important enforcement mechanism. Many of the Regulations have not been changed for decades, and require the taxpayer to go through numerous hoops to prove that their activities constitute a business rather than a hobby.
It is important to plan ahead. In IRS audits, taxpayers are usually asked to produce annual written business plans and profit-and-loss statements. Business plans should include goals, job descriptions, policies and procedures, an itemization of horses or other livestock sold, proposed advertising and promotional activities for the upcoming year, and detailed information on methods to decrease costs or increase revenues. The IRS tends to audit activities that have generated a long history of losses, and will want to find out how these losses can be explained, and also how the taxpayer can expect to generate an overall profit in the future.
Mr. Cohan represents clients who own many breeds of horses. These include Thoroughbred, Warmblood, Arabian, Appaloosa, Quarterhorse, Standardbred, and more. Mr. Cohan also represents cattle farmers, beef processing facilities, and other cattle business owners.
In addition to equine and livestock tax matters, Mr. Cohan can assist you with other services, including:
- Business Plans
- Profit & Loss Statements
- Lease Agreements
- Breeding Contracts
- Syndication Agreements
- Purchase and Sale Agreements
- Equine Real Estate and Ranch Matters
- Tax Planning
Whether you are an owner, breeder, trainer, or a horse or livestock organization, The Law Offices of John Alan Cohan offers the services needed to solve any equine or livestock-related problems you may have. Regardless of the discipline, breed, or level of development, Mr. Cohan is committed to working with you to provide you with superior cattle and equine legal services.
By using an experienced horse and cattle lawyer, you can expect high-quality services. When you have been serving equine and cattle clients for over 30 years, like Mr. Cohan has, you truly gain a thorough understanding of the agricultural industry and its horse and cattle legal concerns.