OwnerView Webinar: Accounting, Legal & Insurance Considerations for Horse Owners

OwnerView launched its 2025 Webinar series March 11 with a panel focused on accounting, legal, and insurance considerations for Thoroughbred owners.

Gary Falter, OwnerView project manager, moderated the discussion featuring Chapman Hopkins, chair of Stoll Keenon Ogden’s Equine Litigation group; Joe Daugherty, public accountant at Dean Dorton leading their equine tax practice; and Mike Levy, founder of Muirfield Insurance.

The session began with an examination of equine accounting, including recent tax changes and their impact on Thoroughbred ownership.

“The two questions you need to ask is what kind of property are we dealing with and do I want to own it myself or do I want to own it with someone else?” Daugherty explained when addressing tax considerations for purchasing horses or farms.

Daugherty emphasized the importance of selecting appropriate accounting methods for equine businesses.

“I would say that most horse owners qualify to use the cash basis method. That’s usually the preferred accounting method, because it accelerates deductions for income tax purposes,” he noted.

Hopkins outlined critical legal considerations for new horse owners.

“The starting point for me, especially with any new clients, new owners, is getting into a mindset that the equine business really needs to be treated just like any other business,” Hopkins said. “If I could identify three things that I would keep at the forefront of my mind, they’d probably be contractual considerations, regulatory components and then just general liability.”

Levy identified mortality insurance as the most common form of equine coverage, while emphasizing a crucial gap in standard personal policies.

“Personal umbrella policies do not cover equine-related claims,” Levy warned — a point Hopkins strongly reinforced.

The panel also addressed the void claim rule now operating at all tracks under Horseracing Integrity and Safety Act jurisdiction.

“This is a very, very good rule. It encourages participation and it alleviates ambiguities or uncertainties, especially for people that are new in the game,” Levy said.

Nine additional virtual panels are scheduled throughout 2025. The next session, titled “Owners First,” will take place April 8 at 2 p.m. ET. The complete webinar schedule can be found on the OwnerView website.