Posted on: 7 October 2015
If you are purchasing a semi truck to tow a large horse trailer to shows, you'll need to make sure you meet the legal requirements. Any activity that that is done for profit can be considered a business, according to the IRS. In addition to tax implications, this means that you will need to meet different requirements for towing your horses.
If you are pulled over by a law enforcement officer who wants to see your credentials, you may need to prove whether you are a hobbyist or a business owner, which can be somewhat tricky for equestrians who routinely enter shows in hopes of earning monetary awards even though they only consider themselves to be hobbyists.