Operating a horse business can be a fulfilling experience on many levels. But like any business activity, a horse business comes with its share of drudgery. The books must be balanced, the bills paid, and tax returns filed. In Understanding Equine Business Basics, lawyers Milton Toby and Karen Perch give an overview of issues and potential problems that confront every owner. They discuss ownership options, business records you should keep, employer–employee relations, and buying and selling. The authors also explain IRS regulations that govern horse ownership and how an owner might qualify for a tax deduction. This book is an essential guide for anyone who operates a horse business.