7 Tips for Financial Prosperity

December 2025

The 2025 racing season is wrapping up, and many of you are thinking about next year’s foals and which stallion to cross on your mares. While you may be moving on to the anticipation of future racing athletes, your AQHA team is working steadily on closing out this year’s business. 

We are sorting through the applications for Regional Challenge Stakes that racetracks have submitted for 2025. We hope to have the schedule finalized by the end of the year so that horsemen can make plans for their stables. Look for more news about that later in the month.

We are also planning the Champions Selection Committee meeting. Our leadership has always maintained that the dialogue in this gathering is paramount, and we are proceeding with plans to determine the next group of AQHA Racing Champions. I appreciate the Committee members for their commitment to our industry and willingness to convene. I also want to give a shout out to the Racing Department staff. Our team does a fantastic job doing what it takes to prepare for the meeting. 

There are volumes of data and past performances offered to the Champions Selection Committee to help them make informed decisions, and our team works hard to compile the information. One day this will be an automated process, but until it is, it takes a labor-intensive collaboration to get it done.

Once the champions are determined, we will work with our colleagues to produce the AQHA Racing Champions Awards Ceremony. The program will be created, videos prepared, and lighting and music production finalized. 

It is one of my favorite nights, and I am always proud to have a role in it. It probably means so much to me because I understand that having a horse that receives AQHA World Champion honors can change your life for the better, and how memories are created that will stay with you for a lifetime. Several years have passed since I…

When your veterinarian prescribes medication for your horse, you can obtain it directly from your vet at the farm or from their office. There are times when you may elect to fill the prescription at an online internet pharmacy for the convenience of purchase and home delivery. Yet, there are some precautions to consider before diving right in with ordering, especially from an unfamiliar pharmacy source.

Safe Pharmacies
There are good reasons to take precautions when ordering from online pharmacies and their websites. To ensure that the products you receive are legitimate and are not counterfeit or handled improperly, you’ll want to do some homework. It is important to identify a pharmacy that operates legally and is known for Safe Practices. The FDA (Food & Drug Administration) has a BeSafeRX website to keep you informed about state-licensed online pharmacies and how to locate them: https://www.fda.gov/drugs/quick-tips-buying-medicines-over-internet/besaferx-your-source-online-pharmacy-information 

Another security measure for ordering is to acquire information about the Verified Internet Pharmacy Practice Sites TM Seal (VIPPS Seal), which guarantees that the Internet pharmacy has met state licensure requirements and criteria from the National Association of Boards of Pharmacy (NABP). One place to secure this verified information is through the NABP at: https://nabp.pharmacy/programs/accreditations-inspections/digital-pharmacy/accredited-digital-pharmacies/ 

And, to err on the safe side when checking out a pharmacy, consult the list of pharmacies NOT to use as recommended by the NABP: https://safe.pharmacy/not-recommended-sites/ 

Signs that a Pharmacy Follows Safe Practices
There are several caveats to check about a pharmacy before you order:

• Does the pharmacy have a license through the state’s Board of Pharmacy?
• Will they only fill your request with a valid veterinarian’s prescription? 
• Does the pharmacy have an address and phone contact within the United States?
• Does the pharmacy have a licensed pharmacist on staff to whom you can direct questions?

If you cannot verify that the caveats above are true, then look for a different pharmacy. Other things that might tip you off to a problem with a particular pharmacy is if you receive blasts of unsolicited emails and offers of deeply discounted prices.

The last thing you want for your horse is to administer outdated, tainted, contaminated, or illegal black-market medications that could do considerable harm. Medications with incorrect ingredients or dosages, or those that have incorrect active ingredients create a risk for harmful consequences. You need assurance that medications have been stored and handled properly otherwise they could be rendered ineffective. In addition, don’t forget that you’ll be providing the “pharmacy” with credit card and personal information that is potentially shared with or sold to other suspect websites.

What to Order?
It is important to realize that every horse is an individual and experiences individual medical issues. What happened to a friend’s horse in your barn or down the road and how it was managed may have little bearing on the issue at hand for your horse. Your veterinarian customizes treatment to each individual, and offering a prescription means it applies to your horse at that moment in time. So, you’ll want to heed your vet’s advice as effective for your horse’s specific problem. This is one reason why a valid prescription is necessary to order medications – it is based on a medical diagnosis that is based on a clinical exam. Over time, a prescription may need to be fine-tuned for an individual horse.

A veterinarian can only provide a prescription for your horse if there is an active veterinarian-client-patient relationship (VCPPR) that also confirms that your vet has examined your horse within the past year, and preferably more recently. The biologic body is ever changing, and health issues and circumstances fluctuate. This requirement is stipulated by the American Veterinary Medical Association (AVMA) ethics practices and is legally enforced by Veterinary State Boards. It is meant to protect the health of your animals. Without a veterinary examination and diagnosis, some medications can be injurious and elicit unintended consequences. In some cases, dosages need to be reevaluated and adjusted periodically to achieve the best and safest results.

Check the expiration date as soon as you receive the medication. An outdated product may…

Maybe it is just me, but it feels like 2025 has flown by. The market has had its ups and downs but has managed to post double-digit gains so far across the Dow 30, S&P 500, and NASDAQ. Let’s talk about something everyone can agree to dislike—taxes. Most people want to avoid paying taxes but don’t do enough to actually lower their tax bill. While I’m not licensed to give tax advice, I can certainly provide some helpful tips to discuss with your CPA.

High vs. Low Tax Year
It is not uncommon to have an unusual tax year due to a loss of income, the sale of a business, property, or other assets. During those years, there are several ways to reduce your tax burden—either now or in the future. In a high-tax year, consider the following:

Donor Advised Fund (DAF)
If you sold a business, property, valuable horse, or other valuable asset, it may be wise to consider a DAF. The way a DAF works is simple. Once created, it can be funded with any amount the owner chooses. Anything that goes into a DAF is tax deductible. The only catch is that the funds must go to charity. There is no time requirement on when it has to be donated. The funds can be donated in small increments over the owner’s lifetime and even passed down to their children to continue charitable giving.

Fund Retirement Accounts
Contributing to a traditional IRA, SEP IRA, SIMPLE IRA, or 401(k) offers valuable tax benefits. Another benefit is that these funds can grow over time and add to your net worth. Heavy equipment purchases aren’t always the answer. I prefer investments that add to net worth rather than take from it. It is important to remember…