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I have never had a problem with anyone on here or on any other forms that I belong to.
But you sir are the reason why I am hesitant to ever write a reply.
I have used the same CPA for over 20 years. I have never had a business license for any venture except my rental properties which are a LLC...
The only time that I have listened to Luke was at the track. He did a short lesson on site. It was very good.
I do belong to Scotty Richardson's online deal. I was lucky and got in before he started charging for a yearly membership.
I learned a lot and it will keep you up to date on some of...
Keep records of your expenses. If only for you to total at the end of the year. After you total it one time you probably won't do
it again. The total always shocked me. You tend to spend more than you think.
Then if you hit a big money race and get a 1099, you'll have records of your...
I have done it as a hobby business.
As an official business, LLC or Corporation, will require different insurance and for you to follow strict DOT regulations while towing and traveling. I am not very familiar with that part of it.
Use expenses to offset winnings.
Most tracks will send...
A local gentleman about your age match raced back then also here in the south.
Both himself and his brother. They had injected and blown Hemi's. One car was called the
"Prosecutor" and the other was called the 'Defender"
He was delivering parts for a Chevy dealer. I loved to see his pictures...
I ran this in a 67 GTX
1968 383 block
1972 440 standard bore pistons with a zero deck height
Stock steel crank
Original 375 HP 440 cam
Rotating assembly balanced
906 heads with old fashioned 3 angle valve job
Stock 338 HP intake with an AVS
67 HP exhaust manifolds with 2 1/2 inch exhaust...