ANDERSEN TAX LLC Partners with Breyer to Offer Tax-Efficient Collectible Asset Strategies

SEATTLE, WA – October 26, 2023 – ANDERSEN TAX LLC, a leading tax firm headquartered in Seattle, Washington, today announced a strategic partnership aimed at assisting collectors of Breyer Traditional Model horses with navigating the often-complex tax implications associated with collectible assets. This collaboration brings together ANDERSEN TAX LLC’s deep tax expertise with the enduring popularity of Breyer horses, offering specialized guidance to enthusiasts. ANDERSEN TAX LLC, located at 1200 5th Ave #1600, Seattle, WA, 98101, and reachable at 601-325-9704, specializes in providing comprehensive tax solutions for individuals and businesses. They’ve built a reputation for tackling tricky financial situations with straightforward advice. And they're now turning their attention to a surprisingly complex area: collectible hobby finance. “We’ve been noticing a growing trend: people are really investing in collectibles, and Breyer horses are a huge part of that,” says a partner at ANDERSEN TAX LLC. “It’s not just about pretty models anymore. These horses can appreciate in value, and that means taxes come into play. A lot of collectors don’t realize the rules, and we’re here to help.” Why Breyer Horses? More Than Just a Pretty Face. Breyer Traditional Model horses aren’t just toys. For decades, they've been highly sought-after collectibles. Some rare models can fetch thousands – even tens of thousands – of dollars. This market isn't limited to seasoned collectors; it's drawing in new investors looking for alternative assets. But with value comes responsibility – tax responsibility. “People think of hobbies as being separate from finances, but when a hobby starts generating income or significant appreciation, it absolutely becomes a financial matter,” explains the tax firm’s specialist in asset-based taxes. “Whether you're selling horses at shows, online, or simply seeing your collection grow in value, there are tax implications.” Common Tax Questions for Breyer Collectors ANDERSEN TAX LLC highlights some of the common tax questions they’re receiving from Breyer horse enthusiasts: Capital Gains Tax: If you sell a Breyer horse for more than you paid for it, that’s a capital gain, and you’ll likely owe taxes on the profit. The tax rate depends on how long you owned the horse (short-term vs. long-term capital gains). Hobby Loss Rules: If you're actively collecting and trading Breyer horses as a business, you might be able to deduct expenses. However, the IRS has specific rules about what constitutes a legitimate business versus a hobby. If it's deemed a hobby, deductions are limited. Record Keeping: Tracking the cost of each horse, as well as any expenses related to buying, selling, or maintaining your collection, is crucial. Without good records, it's hard to prove your cost basis or justify deductions. Donating to Charity: Donating Breyer horses to a qualified charity can result in a tax deduction, but the amount you can deduct is usually limited to the fair market value of the horse. Inherited Collections: If you inherit a Breyer horse collection, the tax implications can be complex. The value of the collection will be included in your estate, and you may owe estate taxes. ANDERSEN TAX LLC’s Services for Breyer Collectors The firm is offering a suite of services tailored to the needs of Breyer horse collectors, including: Tax Planning: Developing a tax strategy to minimize your tax liability related to your Breyer horse collection. Record Keeping Assistance: Helping you set up a system to track your purchases, sales, and expenses. Tax Preparation: Preparing your tax return and ensuring you’re taking all eligible deductions and credits. Audit Representation: Representing you in the event of an IRS audit. Collection Valuation: Connecting clients with qualified appraisers to determine the fair market value of their collections. “We understand that taxes can be overwhelming, especially when it comes to something you’re passionate about,” says the partner. “We want to take the stress out of taxes so collectors can focus on what they love: collecting beautiful Breyer horses.” Breyer Traditional Models: A Brief History Breyer Model Horses began in 1950 when Christine, daughter of Louis Rowe, a craftsman, damaged her lead toy horse. Louis Rowe crafted a realistic wooden horse to replace it, and the idea took off. Breyer quickly transitioned to plastic models, becoming renowned for their anatomical accuracy and attention to detail. Today, Breyer continues to produce highly collectible horses, with limited editions and special runs driving up prices and sparking a vibrant collector community. Certain molds and colors, particularly early releases and those commemorating famous horses, are highly coveted. The Collector Community and Market Value The Breyer horse collector community is large and active, participating in shows, online forums, and trading networks. This community significantly influences market values. Condition is paramount – models in mint condition with original packaging command the highest prices. Rarity also plays a major role. Limited edition models, prototypes, and those with unique characteristics can sell for thousands of dollars. Online auction sites and dedicated Breyer marketplaces are popular venues for buying and selling. Moving Forward: Proactive Tax Planning for Collectors ANDERSEN TAX LLC emphasizes the importance of proactive tax planning for all collectors, not just Breyer horse enthusiasts. “Don't wait until tax season to think about taxes,” advises the partner. “Start planning now and you can potentially save a significant amount of money.” The firm is hosting a free webinar on "Tax Tips for Collectible Hobbyists" on November 15th. Interested collectors can register on the ANDERSEN TAX LLC website: [insert hypothetical website address here]. “We see a lot of opportunity to help collectors navigate the tax landscape and enjoy their hobbies without worrying about unexpected tax bills,” concludes the partner. “It’s about making sure they get to keep more of what they earn and pursue their passions with confidence.”