Items Tagged with 'IRS'

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Know The Rules Before The Internal Revenue Service Knocks On Your Door

If you rent a shoeing rig to other farriers, are they employees, subcontractors or independent contractors?
The following is a scenario being used by a full-time farrier. His name, town and state are not being provided in order to keep an Internal Revenue Service (IRS) agent from knocking on his door in regard to this unusual hoof-care business arrangement.
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The Hoof-Care Bottom Line

Don’t Overlook These Tax Deductions

Make sure you limit the taxes paid by determining the personal and business deductions you are allowed.
It is no surprise to any working farrier that the daily costs of running a footcare practice will amount to enormous yearly expenses. The United States’ Internal Revenue Service (IRS) recognizes that running a business can be expensive, and allows deductions of business expenses on income tax returns.
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The Hoof-Care Bottom Line

Profit Margin's Place in your Shoeing Business

Understanding this formula will help you see how much of what you charge for your work actually stays in your pocket
Profit margin is an excellent tool for tracking how much your farrier business is making, for making internal price comparisons, for determining how much you charge, and for helping make customer determinations.
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Briefings

A team of European researchers has found conformation of the forelimbs (including heel height and pastern angle), height at the withers and neck length can contribute to uneven feet concerns.
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Briefings

Chris Gregory takes pains to minimize the length of contact with the frog when hot fitting a bar shoe.
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Briefings

During the annual American Association of Equine Practitioners meeting in early December in Seattle, Wash., Michael Weishaupt explained how horses dealing with pain redistribute the load between forelimbs and hindlimbs without causing an overload situation.
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Legal Notes For Shoers

Employee Or Independent Contractor?

Make sure you know the differences when you arrange for on-the-job help.
In an effort to curb the high costs associated with keeping employees, many business people in the equine industry simply label their workers “independent contractors” instead of “employees.”
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