Quote:
Originally Posted by JumbalayaJet
Ah yes, WPT. I've often wondered how a public stable works. One-time fee, monthly payments? Profits must be rare to come by.
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Stables run different programs, even within the stable. WPT is one of the better ones, and is from my experience, very honest. Visit their website. As to profitability- you will need to show a profit every few years (per IRS), so not putting all "your eggs in one basket" makes this easier. The benefits of ownership to the regular patron of the track make the "expenses" more palatable. As an owner you are licensed, and with the license come some benefits (vary form state to state). As mentioned consult with an accountant to find out about the real (read tax) benefits of being a business operator and understand that for the most part the profit is in the enjoyment and the excitement. Fortunately , one of my ventures was able to return a huge profit and prolonged the "ride".
