The costs of the equine world are unlike anything else. Most accountants don't understand that. Lisa Dudash does — as a lifelong equestrian, USEF member, and IRS Enrolled Agent with specialized equine business experience.
Horse people already know the costs add up in ways that are hard to explain to someone who's never been near a barn. Vet bills that arrive without warning. Show fees that stack up over a season. The blurry line between a farm that's a business and a farm that's a passion.
Most accountants don't know how to help you navigate that — and the wrong advice can be expensive. The IRS scrutinizes horse operations closely, particularly around the hobby loss rules. Getting this wrong means lost deductions, back taxes, and potential audits.
Lisa brings something rare: firsthand knowledge of the equine world combined with 25+ years of tax and accounting expertise. She knows which expenses qualify, how to document your operation correctly, and how to structure your business to protect what you've built.
Comprehensive tax and accounting support for every corner of the equine industry.
Federal and state tax returns for horse farms, training businesses, boarding operations, and individual equestrians — filed correctly the first time. As an IRS Enrolled Agent, Lisa can also represent you directly before the IRS for audits, notices, and disputes in all 50 states.
Protecting your deductions starts with proper classification. We help you understand where you stand and what documentation you need to defend your position.
Clean, organized books for your horse operation — tracking income, expenses, and the financial detail the IRS expects from a legitimate business.
Feed, vet, farrier, training, travel, entry fees, depreciation — we track every deductible dollar and make sure nothing is left on the table.
Whether you're starting out or growing, the right business structure protects your assets and positions your equine operation for tax efficiency.
Equine professionals pour everything into their craft — billing and invoicing often end up last on the list. Lisa manages it on your behalf so the money you've earned arrives consistently, without you having to think about it.
These are the questions equine clients ask most. The answers matter.
It depends on whether the IRS classifies your operation as a business or a hobby. If you operate with a genuine profit motive and proper documentation, horses and related expenses can absolutely be deductible. The key is getting the structure and recordkeeping right from the start — not trying to fix it after an audit letter arrives.
IRS Section 183 — the hobby loss rule — limits deductions for activities the IRS doesn't consider profit-driven. Horse operations are one of the most frequently audited categories under this rule. A profit in at least 2 of 7 years creates a presumption of business intent, but there's a lot more to it. Proper business conduct, documentation, and professional advice make the difference.
For a qualifying horse business, deductible expenses typically include feed, veterinary care, farrier services, training fees, show entry fees, travel to competitions, stabling and boarding costs, equipment, and depreciation on horses themselves. The list is substantial — but so is the documentation required to support it. We track all of it.
Boarding income is generally taxable, and a boarding operation can qualify as a business with the right structure. The expenses associated with running a boarding facility — including property costs, labor, and upkeep — can be significant deductions when the operation is set up correctly.
Wellington is home to the Winter Equestrian Festival, world-class show jumping, and a dense community of trainers, farm owners, and serious competitors. It's also one of the most unique tax environments in the country for equine professionals.
Tax strategy and bookkeeping for trainers and riders competing on the WEF circuit and the broader show calendar — where expenses are high and documentation is critical.
Clean books and smart tax strategy for Wellington-area boarding facilities, training barns, and equine-related real estate — including seasonal operations.
Multi-state tax preparation for equestrians who split their time between Florida and other states — a common situation in the Wellington community with real tax implications.
Whether you're a trainer, farm owner, competitor, or simply trying to figure out what you can deduct — reach out. References available upon request.