Racing as a business (kind of long)

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Re: Racing as a business (kind of long) [Re: Bigbeep] #1387193 02/14/13 05:54 PM 02/14/13 05:54 PM
Joined: Jan 2003 Posts: 5,447 So Cal Sinitro master
Sinitro master Joined: Jan 2003 Posts: 5,447 So Cal	Think about income/loss from racing just like gambling income/loss.. The IRS monitors the expense write-offs and will come down hard on one who just has expenses and no winnings.. Similar to the guy that claims the home office expenses for his computer hardware/software but no income.. The IRS is not stupid, without an ongoing DBA and income stream, if one claims the expenses they will get caught either now or later.. Just my $0.02..

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Subject	Posted By	Posted
Racing as a business (kind of long)	Bigbeep	02/14/13 06:58 AM
Re: Racing as a business (kind of long)	Challenger 1	02/14/13 02:49 PM
Re: Racing as a business (kind of long)	camastomcat	02/14/13 04:48 PM
Re: Racing as a business (kind of long)	Eric	02/14/13 08:08 PM
Re: Racing as a business (kind of long)	Stanton	02/14/13 09:30 PM
Re: Racing as a business (kind of long)	Guitar Jones	02/14/13 09:37 PM
Re: Racing as a business (kind of long)	Anonymous	02/14/13 06:13 PM
Re: Racing as a business (kind of long)	Sinitro	02/14/13 09:54 PM
Re: Racing as a business (kind of long)	RobX4406	02/14/13 11:27 PM

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