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Drag Racing - A Multimillion-Dollar Business
https://www.streetdirectory.com/travel_guide/56156/motorcycles/drag_racing___a_multimillion_dollar_business.html
A Multimillion. -. Dollar Business. Drag racing became a sanctioned sport back in the 1950's, and has remained popular ever since. The World Wide Web gives an excellent, authoritative definition that reads as follows: 'Drag racing is a form of auto racing in which cars or motorcycles attempt to complete a fairly short, straight and level course ...
High Performance Business Directory | Drag Race Results
https://www.dragraceresults.com/business_directory.cfm
High Performance Business Directory for Sportsman Drag Racers who race in NHRA, IHRA and Big Bucks Bracket Races. DragRaceResults.com Article Archive Article Search Bracket Racing Legends ... Frank Hawleys Drag Racing School Frankenstein Engine Dynamics Franz Performance FTD Customs FTI Performance Fuqua Tool & Die G G-Force Racing Gear
DRAG RACING CAN GENERATE BUSINESS & REVENUE: PREMIER …
https://www.islandsun.com/drag-racing-can-generate-business-revenue-premier-says/
The drag racing plans that Government previously hinted will be moving forward as Premier and Minister for Finance, Hon. Andrew Fahie said that he is undaunted by the naysayers and others against the proposal. Hon. Fahie while speaking on the Honestly Speaking With Claude Skelton-Cline programme on 7 January mentioned that government envisions that dragRead …
Risky Business: How To Protect Your Car With Drag Racing ...
https://www.dragzine.com/features/risky-business-how-to-protect-your-car-with-drag-racing-insurance/
Lutz, whose business presently insures more than 2,500 drag racers nationwide, believes this is something that racing needs, and despite the cost, is invaluable to anyone who wants to protect their investment. Longtime Radial versus The World and Pro Modified competitor Bill Lutz owns Central Ohio Insurance Services.
Solved: Racecar driver- hobby vs business?
https://ttlc.intuit.com/community/taxes/discussion/racecar-driver-hobby-vs-business/00/571061
The difference between a hobby and a business for the IRS is how you conduct your operations and activities. For example, if your expenses are exceeding your income from racing, you are not tracking racing related finances, and you are not making any changes to how you manage your racing activity, the IRS will likely try and classify racing as a hobby (because …
Starting an Auto Racing Business - Become an Entrepreneur ...
https://www.gaebler.com/Starting-an-Auto-Racing-Business.htm
Starting a Business Starting an Auto Racing Business. This advice is written for those who plan on opening an auto racing business. Read this article before you start! Thinking about opening an auto racing business? We tell you what you need to know to get started. Business Plan Mechanics for Auto Racing Businesses
COMP RACER JIM GREENHECK BUILT A BUSINESS AROUND HIS …
https://www.competitionplus.com/drag-racing/news/comp-racer-jim-greenheck-built-a-business-around-his-racing
As a seasoned veteran of the sport, Jim Greenheck grew up in a different era. “The first time I ever went down a drag strip was in 1969,” says Greenheck. “I had been hooked on road racing but that form was beginning to fall apart at the time and drag racing was what was affordable to me. I was a big Can-Am fan and that sort of devoured itself.
Turning your race team into a buisness | race-deZert
https://www.race-dezert.com/forum/threads/turning-your-race-team-into-a-buisness.80516/
If you're just a hobbyist, you can only deduct $5,000 ($5k + $5k matches the total of your race income). So you can report $0 income from racing on your taxes. If you're a legitimate business, and just having a bad year, you can probably deduct a loss of $2,500 and reduce the loss from your taxable personal income.
Auto Racing Tax Deductions | Sapling
https://www.sapling.com/7879552/auto-racing-tax-deductions
Common Racing Business Tax Deductions. If you can prove that your pursuit of auto racing glory should qualify as a for-profit activity, then the tax rules allow deductions for many of the related costs. Commonly incurred deductions related to operating an auto racing business may include expenditures for supplies (gas, oil, tires and other ...
How to claim racing on taxes?? | NastyZ28.com
https://nastyz28.com/threads/how-to-claim-racing-on-taxes.76446/
drag racing team checking account, business license, Fed tax ID Number all help clarify it as a "biddness". All expenses related to the racing team, from team uniforms to transportation to and from racing, entry fees, parts, insurance, support vehicles etc all must be recorded. All income from prize money, sponsors etc also must be recorded.
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