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Darryl Buckner · 07-10-2009, 08:55 AM

I tried the LLC thing several years ago also, anymore my tax lady and CPA just writes my car stuff off as a hobby. A hobby is typically considered a loss which works good for me because I usually get around 8 10-99's per year from different tracks, due to winnings over $499.00, and the loss in a hobby allows me to write them off. On another note how about "Twisted Air Racing"..

07-10-2009, 08:55 AM	#25
Darryl Buckner The Top Dog Join Date: Dec 2007 Posts: 2,318	I tried the LLC thing several years ago also, anymore my tax lady and CPA just writes my car stuff off as a hobby. A hobby is typically considered a loss which works good for me because I usually get around 8 10-99's per year from different tracks, due to winnings over $499.00, and the loss in a hobby allows me to write them off. On another note how about "Twisted Air Racing".. __________________ When the people fear the government, there is tyranny. When the government fears the people, there is liberty. Thomas Jefferson