Thoroughbred Sales, 2014: Broken Records, Tax Incentives, & Aftercare Donations

Buyers of Thoroughbred racehorses in 2014 got an early Christmas present when H.R. 5771, the Tax Increase Prevention Act of 2014, became law earlier this month.  Retroactive through this past year, a provision of the law renews the three-year tax depreciation for racehorses, which allows taxpayers to depreciate racehorses 24 months of age and younger…

Ovechkin’s Equine Namesake, Eighttofasttocatch Retires A Millionaire

On Saturday, December 6, a few hours before Alexander Ovechkin’s Washington Capitals buried their Metropolitan Division rivals the New Jersey Devils 4-1, Ovechkin’s equine namesake became a millionaire in the last race of his seven-year career. Eighttofasttocatch was purchased in 2007 for $47,000 by former Capitals co-owner Arnold Heft, who died earlier this year.  Heft…

NY Race Track Chaplaincy Brings Christmas To The Backstretch

The New York Race Track Chaplaincy, which is based at Belmont Park and provides a variety of services to the backstretch workers of Belmont, Aqueduct, and Saratoga, is once again offering its “Adopt A Family” Program for Christmas. Last month, the Chaplaincy provided turkeys and other supplies so that backstretch workers could prepare Thanksgiving dinner;…