Lessons from a Dinner Table Debate: What Jockeys and Horsemen Can Learn About Financial Priorities
Explore how financial strategies for jockeys, trainers, and horse owners compare to approaches in car maintenance—proactive vs. delegated. Learn to balance detailed financial management with professional support to keep your finances running smoothly and achieve long-term success in the racing industry.
Jockeys: 7 Tax Moves to Consider in 2025
Discover essential tax strategies for horse racing jockeys in 2025. From bookkeeping tips to retirement planning and advanced tax-saving techniques, learn how to maximize earnings, minimize liabilities, and achieve long-term financial success.
529 Education Savings Accounts: What Jockeys Should Know About Planning for the Future
Education savings might not be top of mind for jockeys early in their careers, but as success builds, planning for the future becomes essential. A 529 education savings account offers a tax-advantaged way to save for your child’s education—whether they pursue college, trade school, or other qualifying paths. These accounts are flexible enough to adapt if your child earns a scholarship, delays college, or chooses a different career entirely.
In this blog, we’ll explore how 529 plans can work for jockeys and their families, addressing common concerns like leftover funds, beneficiary changes, and options for unused savings. Whether you’re thinking about your family’s future now or want to be prepared down the road, 529 plans could be a smart addition to your financial strategy.
5 Things I Wish Jockeys Knew About Money
Jockeys face unique financial challenges, from the physical demands of a short career to the risks of injury and the unpredictability of income. As a financial advisor working with jockeys, here are 5 things I wish they knew about money.
Understanding Depreciation Recapture: What Every Horseman and Jockey Should Know
Learn how depreciation recapture impacts taxes when selling assets like broodmares, tractors, rental properties, and home offices. Understand IRS rules, depreciation schedules, and tax rates to avoid surprises and maximize after-tax proceeds.
5 Common Tax Mistakes Jockeys and Small Business Owners Should Avoid
Navigating taxes can be challenging for jockeys and small business owners who often juggle managing their business and being the primary worker. In this article, we explore five frequent tax mistakes that can lead to financial issues.
Debunking the Myth of Mortgage Interest Deduction for Jockeys and Small Business Owners
When considering a home purchase, jockeys and small business owners often hear a compelling argument about the benefits of the mortgage interest deduction. It's a common refrain, "You can save on taxes!" But is this really the financial boon it’s touted to be?
Prepping 101: A Thoughtful Approach
Proactive disaster preparedness is crucial for safeguarding against unpredictable emergencies. Begin prepping activities early to ensure comprehensive protection and resilience. Leverage authoritative resources such as Ready.gov, FEMA's Emergency Management Institute, and the American Red Cross for thorough plans and strategies. Utilize YouTube prepping channels for tailored insights and tutorials. Early and strategic preparation enhances confidence and navigational capabilities during disasters, mitigating risks and ensuring personal and community safety.
When Filing as an S Corp Makes Sense for Your Business
Explore the advantages of having your LLC file as an S Corporation and learn how it can serve as a beneficial tax strategy for small business owners.
Your Credit Score Is Far Less Important Than You Think
In today's financial landscape, understanding the nuances of credit scores is essential, but it is equally vital to recognize that a high score alone does not guarantee successful loan approvals. After reaching a credit score of 730, improvements yield diminishing returns, placing greater emphasis on your overall financial health. Factors such as debt-to-income ratios, employment stability, and a solid financial foundation play pivotal roles in lending decisions. Instead of fixating solely on elevating your credit score, focus on cultivating a diverse investment portfolio, managing expenses wisely, and building an emergency fund to secure a stable financial future.