Quote:
Originally Posted by Darryl Buckner
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"..  |
I understand what you are saying, but we are doing it for two different reasons. I need the protection of a LLC.