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Final Furlong Forum  |  General  |  Questions  |  Topic: 2012 Tax Bug
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highlandraider
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« on: January 01, 2009, 04:25:14 AM »

Hello Shanti

Happy New Year to you.

Just wanted to bring to your notice a tax bug. The broodmare tax shows $2,382,000  when it should be 20,000 or so.

This is from my budget page:

2012-12-31 2012 Broodmare Tax $2,382,000  $2,534,317.


The Story book auction is up and this has disrupted some of my plans. So can you do something if possible

Thanks

Vivek


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Bam
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« Reply #1 on: January 01, 2009, 04:29:03 AM »

The auction actually doesn't open up for another three hours, so don't worry too much about missing out!
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Starfish
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« Reply #2 on: January 01, 2009, 05:30:22 AM »

Actually, there does appear to be a bug in the Broodmare taxes, certainly as far as my stable is concerned. When you look at my Stable Taxes page, it shows that I should be paying $30,000 in Broodmare taxes for 10 Broodmares, however, when you look at my Stable Budget page, it has deducted $51,000 in Broodmare taxes.

In addition, I am a little confused as to what qualifies a Broodmare to be liable for Tax. I have two broodmares, Lady of Mystery & Painted Desert, who were already in foal when I bought them at Auction. I have not been charged the Broodmare Tax for them. I have another Broodmare, Coco Diablo, who was Retired to Stud a couple of days ago and who has not been bred yet, however, I have been charged Broodmare tax for her (I mentioned her in a Post a couple of days ago).

Could you please look into these cases for me.

Thanks.
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Lewis
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« Reply #3 on: January 01, 2009, 04:50:36 PM »

My taxes also seem to be messed up.

  • I was taxed $175,000 for my 37 racehorses on my tax page but in my budget it says I was taxed $596,985 and it took that much. (huge difference)
  • I wasn't taxed for my six broodmares on the tax page but on my budget page it took $21,000.
  • I was taxed $4,000 for my two weanlings and on my budget page it took $31,000.
  • I wasn't charged a sales tax on the tax page but on my budget it took $15,000

So overall I was taxed $663,986 for a total of 46 horses which seems like a lot to me.

Thanks

eta: this isn't completely tax related but my yearling Bel Esprit is showing up as a racehorse.
« Last Edit: January 01, 2009, 04:54:22 PM by Fleet Feet Thoroughbreds » Logged
Amares
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« Reply #4 on: January 01, 2009, 05:40:21 PM »

Shanti, hello

I'd like to ask about taxes. My stable was open on December 30, 2012. As a newbie I have a first year without taxes, but now I see on taxes page that my stable will pay taxes in the end of 2013..  ???
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fionababe56
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« Reply #5 on: January 01, 2009, 06:16:03 PM »

Amares, as a newbie your first year you only get a discount on taxes, not a year without them
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Brenda
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« Reply #6 on: January 01, 2009, 07:35:50 PM »

Since the 2013 tax year is listed, how do you find out what your 2012 taxes were?  I know it is on the budget page, but how can you compare and double check?
Thanks in advance
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fionababe56
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« Reply #7 on: January 01, 2009, 08:10:40 PM »

It's in the stable budget page. you need to go back to december 31, 2012 as the start date and it will show seperately all that was taken out.
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Brenda
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« Reply #8 on: January 01, 2009, 09:08:10 PM »

Is there a way to pull up the Taxes Breakdown by year? 

If you go to your tax page right now, it shows 2013 Taxes.  I would like to see that page BUT for 2012 and 2011.

Is there a way to see that?
« Last Edit: January 01, 2009, 09:11:51 PM by Brenda » Logged
Shanthi
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« Reply #9 on: January 01, 2009, 10:54:07 PM »

I'll look into this over the weekend. :)
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Amares
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« Reply #10 on: January 02, 2009, 03:59:51 AM »

Amares, as a newbie your first year you only get a discount on taxes, not a year without them

Ok, what I'm trying to explain..
On the Taxes page I have "You do not qualify for the newbie discount".
It means I'll pay FULL taxes in december 2013. But I'm a newbie!!! I just start the game, I even never race my horses!
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ivycreekfarm
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« Reply #11 on: January 02, 2009, 04:58:45 AM »

Amares-

I think the system was set up (because there has to be a cut-off point) so that newbies would have a minimum of one full year to get on their feet and prepare to pay full taxes.  Joining December 30, right before taxes are due (your first tax "year" payment, in which you get the discount), still gives you this minimal time (a year and a day) to prepare to pay full taxes.  It sucks, but there has to be a cut-off point and you happened to fall in close to that point.  But one full year is still plenty to prepare, so no worries!  Just know that everything you do - buying/leasing/breeding - will add to your taxes at the end of the year.  It's always a good idea to look at your "stable taxes" page instead of your account balance to see how much money you REALLY have to spend so that it doesn't sneak up on you in a year.
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Alyssa
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Shanthi
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« Reply #12 on: January 02, 2009, 04:19:05 PM »

OK, taxes should now be correct.  Not all stables gained money, however.  ;)

One thing I did add to the tax code is a tax deduction on shipping racehorses.

Newbies get 20%, non-newbies 10%.

So, let's say Stable A and B each earned $1,000,000 from their racehorses in 2012.  They both spent $250,000 shipping those horses in 2012.

If Stable A is a newbie, and they would normally pay (picking a random # here) $300,000 on taxes, they get to deduct $50,000 (20% of $250,000) from that amount, so they pay $250,000.

If Stable B is not a newbie, and they would normally pay $550,000 on taxes, they get to deduct $25,000 (10% of $250,000) from that amount, so they pay $525,000.

Enjoy!
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Maya
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« Reply #13 on: January 02, 2009, 04:30:40 PM »

My taxes were correct earlier, but I just checked again, and it appears now that I've been charged twixe for each of my weanlings... THey should have been $500 each, for a total of $1000, but in my stable budget it now says $2000 was taken for them.
Just thought I'd let you know :)
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Brenda
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« Reply #14 on: January 02, 2009, 04:46:38 PM »

My Taxes were fine yesterday and now they look like this:

2012-12-31     2012 Racehorse Tax           $419,958     $81,200
2012-12-31    2012 Stallion Tax             $0                  $134,828
2012-12-31    2012 Broodmare Tax          $9,000             $125,828
2012-12-31    2012 Yearling/Weanling Tax  $14,000           $117,828
2012-12-31    2012 Sales Tax                     $19,750        $97,578
2013-01-01    Lochiedo Stables Auction: Purchased Suddenly Smart (ID# 3189) from Lochiedo Stables                        $1,000    $37,450

Yesterday:
Racehorse Tax was $366,300
Stallion                 $0
Broodmare             $3,000
Yearling/Weanling    $14,500
Sales Tax              $19,750

It took an additional $59,158 from me and my taxes were correct from the first time.  But you can see from the copy of my budget page how the totals don't make sense.  I copied this 5 mins ago and it was fine yesterday.

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