Archive for September, 2010

USA’s Tom McCutcheon wins individual gold at Reining World Championships

Thursday, September 30th, 2010

Gunners Special Nite

U.S. reiner Tom McCutcheon and 6-year-old Gunners Special Nite turned in a score of 228 yesterday in the individual finals at the FEI Reining World Championship, as part of the 2010 Alltech FEI World Equestrian Games in Lexington, KY. The score was enough to earn the individual gold medal by a margin of 5 points.

“I knew he was pretty special tonight,” said McCutcheon, who earned the individual silver medal in 2003. “I felt pressure, for sure, because I wanted to do him justice. He’s a great little horse.”

Earlier in the week, McCutcheon and Gunners Special Nite, a stallion owned by Turnabout Farm, helped the U.S. team to a gold medal in the team reining competition. Gunners Special Nite, by Colonels Smoking Gun, was the 2007 NRHA Futurity reserve champion and has $217,000 in NRHA lifetime earnings.

The individual silver medal went to U.S. teammate Craig Schmersal on Mister Montana Nic, with a score of 223, while defending WEG individual gold medalist Duane Latimer of Canada, earned the bronze medal riding Dun Playin Tag, with a score of 222.5.

At 12 years old, Mister Montana Nic is twice as old as the other horses on the U.S. team, and has been with Schmersal since he was a yearling.

“That’s what it’s all about, right there,” Schmersal said of the horse’s longevity. “We’ve just got to keep those old horses sound and happy.”

Mister Montana Nic, sired by Reminic and owned by Ericka Smith, was the 2005 FEI World Reining Master silver medalist and has $136,150 in NRHA lifetime earnings.

Gunners Special Nite stands at McCutcheon Reining Horses in Aubrey, TX for a fee of $2,500; Mister Montana Nic stands at Schmersal Reining Horse in Overbrook, OK for a fee of $2,000.

For more information on the Alltech FEI World Equestrian Games, which continue through October 10, visit  www.alltechfeigames.com

Proof Of Diamonds 225-carats in Brazos Bash Derby

Thursday, September 30th, 2010

Curtis Bass

Proof Of Diamonds and Curtis Bass opened the floodgates with a 225-point winning performance, as the second draw in the second set of the Brazos Bash Derby finals. The $22,000 winner’s payout raised the Power Proof son’s career total to $54,916.

Reserve champion Pounce followed Proof Of Diamonds in the working order and scored 221 points under Phil Hanson for Clarke Butte Ranch; Smooth Going Cat and Matt Miller, next in working order, scored 220.5 to tie for third with 2009 NCHA Futurity champion Rockin W, who drew last in the 27-horse field, under Gary Gonzalves.

“I was hoping he would be a show horse,” said Bass, who raised Proof Of Diamonds and shows him for his daughters Jacey, 16, and Hannah, 13.

Proof Of Diamonds, an NCHA Futurity and Derby Open Limited finalist under Bass, is the leading money earner sired by Power Proof, and the first performer out of Quixotes Diamond, by Doc Quixote.

“I bought (Quixotes Diamond) for the girls to learn to show,” said Bass. “But she was so hard to catch that we ended up breeding her. We got the one colt and then we sold her.”

Hannah Bass showed Proof Of Diamonds this past spring to win the Non-Pro Cutting $2,000 Rider championship.

Curtis Bass also placed eighth in the Brazos Bash Derby with 218.5 points on Miss Rita Wood for Mike and Laurie Jones, who own Power Proof.

Pounce, reserve champion of the NCHA Derby in July, was paid $18,000 for second place in the Brazos Bash and has lifetime earnings of $83,292. Phil Hanson also placed sixth with 219.5 points on LHR Smooth Jamie May, the mare he showed to win the NCHA Derby.

Third-placed Smooth Going Cat, shown by Matt Miller for Tommy Manion, had won the first go-round with 223 points, seventh-placed Holly Is Smooth, also ridden by Miller for Manion, won the second go-round with 223 points. Both horses are sired by Smooth As A Cat.

Matt Miller also scored 220 points for fifth, riding Lethal Dually for Cown Select Horses. Miller’s three Derby mounts earned a total of $36,000.

2010 Brazos Bash 4yo Open

Wednesday, September 29th, 2010
225.0
s
PROOF OF DIAMONDS R: CURTIS BASS O: JACEY & HANNAH BASS
(POWER PROOF x QUIXOTES DIAMOND, by DOC QUIXOTE)
Earned: $22,000

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Big win for Sanjo Play in Brazos Bash Futurity

Wednesday, September 29th, 2010

Craig Thompson

Sanjo Play shut down the Brazos Bash Futurity on Tuesday with a 224-point performance. Ridden by Craig Thompson for Barnwell Ramsey, Huntersville, NC, the Playdox daughter came into the finals off of a 221-point first go-round win and a high cumulative score of 435 points.

RPL Ich This and Smooth N Glow tied for second with 217 points. The $17,000 payout moved RPL Ich This, ridden by Phil Rapp for Bobbie Atkinson, to the head of the class of 2010 NCHA 3-year-old money earners with $35,341. The Cat Ichi daughter also won the Music City Futurity earlier this month.

WR Bano, bred, owned and ridden by Todd Bimat, is the number-two-ranked NCHA 3-year-old with $33,301. The gelded son of WR This Cats Smart did not compete in the Brazos Bash, but won the El Ranch Open Futurity and that event’s open gelding division, as well as the Fort Klamath Ranch Festival Open Gelding class, and placed third in the Fort Klamath Open Futurity.

Sanjo Play, who also placed sixth in the West Texas Futurity, has NCHA earnings of $29,063. Bred by Glade Knight, owner of Slate River Ranch in Weatherford, TX, she is out of the San Jo Lena daughter Sanjo Marla, a full sister to Sanjo Starlight, $90,682, and Joes Midnight Son, $81,946.

Craig Thompson is the leading open money earner of the 2010 Brazos Bash with $46,318. In addition to the Futurity win, he tied for second in the Classic aboard Justa Little Mate, where he was also a finalist on Aristoblue; he was also a finalist in the Futurity riding Genuine Little Scoot, a go-round leader with 434 cumulative points.

For full results and pedigrees, click here.

Cherry Chex Dually rules in Brazos Bash Classic
Cherry Chex Dually and Eddie Flynn scored 222 points to top a stellar field of Brazos Bash Classic finalists. Peptos Stylish Miss with John Mitchell, and Justa Smart Mate under Craig Thompson, tied for second with 219 points.

“We’re going to breed her and bring her into our broodmare band,” said Cherry Chex Dually’s owner Jon Winkelried, who won the NCHA Summer Spectacular 5/6 Amateur in July on the 6-year-old Hes A Peptospoonful daughter.

Cherry Chex Dually’s $20,000 Brazos Bash payout raised her career total to $218,963. Winkelried will also show her in the Brazos Bash Classic Amateur division later this week.

For full results and pedigrees, click here.

2010 Brazos Bash 3yo Open

Tuesday, September 28th, 2010
224.0
m
SANJO PLAY R: CRAIG THOMPSON O: BARNWELL RAMSEY
(PLAYDOX x SANJO MARLA, by SAN JO LENA)
Earned: $23,000

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2010 Brazos Bash 5/6yo Open

Tuesday, September 28th, 2010
222.0
m
CHERRY CHEX DUALLY R: ED FLYNN O: MARVINE RANCH
(HES A PEPTOSPOONFUL x BUENO CHEX DUALLY, by DUAL PEP)
Earned: $20,000

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Benefits for Horse Industry in Small Business Stimulus Bill signed by Obama

Tuesday, September 28th, 2010

President Obama signed the Small Business Jobs and Credit Act of 2010 into law on Monday. The bill is intended to help small businesses and create new jobs and it continues the bigger write-off incentive originally included in earlier stimulus bills.

The first incentive allows owners to expense up to $500,000 in purchases made in 2010 and 2011. This so-called “Section 179” expensing allowance applies to horses, farm equipment and most other depreciable property.  Once total purchases reach $2 million, the expense allowance goes down one dollar for each dollar spent over $2 million. 

Without the bill the expensing allowance would have been $250,000 in 2010 and gone down to $25,000 for later years.

To illustrate the expensing allowance, if a horse business purchases $750,000 of depreciable property in 2010, including $650,000 for horses, that business can write off $500,000 on its 2010 tax return and depreciate the balance. 

The provision will benefit any horse industry business that purchases and places depreciable property in service in 2010 or 2011.

The second incentive reinstitutes the 50% first-year bonus depreciation for horses and most other property purchased and placed in service during 2010. It applies to any property that has a depreciable life of 20 years or less, and the property must be new, meaning that the original use of the horse or other property must commence with the taxpayer. For a horse to be eligible, it cannot have been used for any purpose before it is purchased.

Prior to this bill bonus depreciation had expired at the end of 2009.

To illustrate expensing and bonus depreciation, assume that in 2010 an owner pays $1,000,000 for a colt to be used for racing and $100,000 for other depreciable property, bringing total purchases to $1,100,000. If the colt had never been raced or used for any other purpose before the purchase, the owner would be able to expense $500,000, deduct another $300,000 of bonus depreciation (50% of the $600,000 remaining balance), and take regular depreciation on the $300,000 balance.

For additional information, check with the American Horse Council.