Len Green

By Jessica Martini & Christina Bossinakis LEXINGTON, KY - The Keeneland September Yearling Sale's first Book 2 session continued right on from where the auction's elite Book 1 section concluded, producing strong results largely in line with last year's record-setting renewal. During Wednesday's session, 209 yearlings sold for $64,024,000. The session average of $306,335 and the median was $255,000. During last year's Book 2 opener, 219 head grossed $66,695,000 for an average of $304,543 and a median of $250,000. With 83 horses reported not sold, the buy-back rate was 28.42%....

Hall of Fame trainer Todd Pletcher, along with his wife Tracy, received the Marylou Whitney Award from the New York Race Track Chaplaincy for their continuing devotion and support of the backstretch community at the organization's 16th annual fundraising brunch at the Saratoga National Golf Club, the organization said in a release Wednesday. "I can't say enough about what the New York Race Track Chaplaincy organization does for the backstretch community," Pletcher said. "It provides so much more than spiritual help. I look at it like the mayor's office where...

Len Green has issued a $25,000 challenge grant to raise money for the New York Racetrack Chaplaincy's Summer Enrichment Program, in memory of his wife, Lois, who passed away May 31. The Chaplaincy's summer enrichment program provides the children of backstretch workers the opportunity to attend local summer camps when their families travel to Saratoga for work during the race meeting. "In Hebrew tradition there is a saying which translates to `may her memory be a blessing,' said the Chaplaincy Board President Ramon Dominguez about the gift. "It is up...

Lois Green, the co-owner of DJ Stables with her husband Len, passed away Wednesday morning, May 31, according to her husband. She was 84. Green graduated from Rutgers University with a degree in Biology. She was a trustee of the Leonard and Lois Green Charitable Foundation. "Lois was an avid reader of the TDN and was a truly involved horse person," said Len Green in an email. "Her specialty was the vet work and breeding. She was manager of DJ Stable in the early years. Under her leadership we won...

A donation of a horse to a tax-exempt organization can be mutually beneficial. The donor could potentially obtain an income tax deduction, and the organization receives a worthwhile asset. The horse itself also appreciates greener pastures. This article summarizes the guidelines for horse owners contemplating such a charitable contribution. Recipient Be sure that the donee organization qualifies as an eligible charity under the Internal Revenue Code and that your horse will be used by the organization to further its exempt purpose. You can ask to see the "IRS Determination Letter"...

Additional reporting from Jack Canaley Some will label the recent IRS Case Skolnick v. Commissioner as a win for the government since the court disallowed the deductibility of the losses and classified the operation as a hobby. However, we examined the case in great detail and learned some very valuable lessons that will benefit people in the horse business. The recent ruling, which ultimately was upheld upon appeal by the Third Circuit, provided some clarity and insight into the factors considered in determining the deductibility of losses generated by a...

Len Green joins this week's TDN Writers' Room to discuss DJ Stables' Breeders' Cup-winning filly Wonder Wheel and to advise on changes that will have implications for horse owners' taxes in 2022.

Is the Horse Racing Integrity and Safety Act (HISA) good for horsemen and, by extension, good for racing? Representing the National HBPA, lawyer Peter Ecabert doesn't think that it is, and he was invited to join the TDN Writers' Room podcast presented by Keeneland to explain why. Ecabert was one of two guests on this week's podcast as Len Green, the founder and chairman of the Green Group, came on to share some tax advice and to talk about his soon-to-be-named champion 2-year-old filly Wonder Wheel (Into Mischief). When asked...

LEXINGTON, KY - The Fasig-Tipton October Yearlings Sale, which produced a day of brisk trade during Monday's first session, saw activity tick up another notch during a vibrant day of trade Tuesday in Lexington. "The first horse through the ring this morning brought six figures and the last horse through the ring brought six figures," said Fasig-Tipton president Boyd Browning. "There was brisk activity and great trade, literally from start to finish today. It was very similar to yesterday." Midway through the four-day auction, 524 yearlings have sold for $28,232,900....

LEXINGTON, KY - The Fasig-Tipton Kentucky October Yearlings Sale, looking to build on a record-setting 2021 renewal, opened with a day of competitive bidding Monday. A pair of yearlings by Into Mischief topped the day's activity, with a filly going the way of Ben McElroy for $425,000 and a colt selling to the Green family's DJ Stable for $400,000. "It was a very good opening session to the 2022 Fasig-Tipton October Yearling Sale," said Fasig-Tipton president Boyd Browning. "There was very good trade. The parking lot was jammed pack, we...

That Mark Casse won a pair of 2-year-old maiden races Sunday at Woodbine should not have come as a surprise. The trainer hasn't just been hot when it comes to his juvenile runners, he's been perfect. Casse has sent out eight 2-year-olds so far this year and all eight have won. Six were first-time starters and two others won in their second career starts. He leads all trainers in the category of 2-year-old winners on the year. Steve Asmussen is next with six. How has Casse done it? "For one...

Editor's note: Back by popular demand: our column where readers ask The Green Group's Len Green for advice on saving taxes on their equine-related activities. What changes in the tax law can I take advantage of this year to maximize my tax savings? --Kerry L., Lexington, KY 2021 has been another exciting year when it comes to providing new laws that can save you taxes. 1. First-year expensing for qualified property placed in use is allowed up to $1,050,000. This would include the purchase of horses and more fixed assets...