 Ouch... my head hurts... |
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| PeeGreen 914 |
 Mar 31 2008, 11:54 PM
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Just when you think you're done...wait, there is more..lol  Group: Members Posts: 10,219 Joined: 21-September 06 From: Seattle, WA... actually Everett Member No.: 6,884 Region Association: Pacific Northwest 
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So I just came across all the receipts of the stuff I have bought for my car this year.
Race seats Transmission with MSX and TB dif 2.4l engine PR engine mount and trans mounts PR shift linkage bushings Rennshift Tangerine fuel lines Oddyssy PC680 okay... some of this I traded for.... but Dang it..... (IMG:style_emoticons/default/chair.gif) Don't you ever wish you never looked at how much you spent on the stuff you put in there? I generally try not to look but I was getting everything ready for taxes and just happened to look through the stack o 914 papers. (IMG:style_emoticons/default/piratenanner.gif) Here is to spending money on 914s (IMG:style_emoticons/default/beerchug.gif) And all the fun that comes from them (IMG:style_emoticons/default/drunk.gif) |
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| sww914 |
Apr 1 2008, 12:11 AM
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Advanced Member Group: Members Posts: 2,439 Joined: 4-June 06 Member No.: 6,146 Region Association: None |
Racing is a legitimate advertising expense, Pepsi, Tide, Ferrari, Dupont, they all write it off as advertising because it is. They write off billions, we write off thousands. Also you can write off all of your losses if you have a business license for whatever racing and you can prove that you did have a reasonable expectation of profiting- for example if you advertised looking for sponsors and can prove it then it's reasonable to expect that you could have gained a sponsor and the business could have profited.
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Posts in this topic
Phoenix 914-6GT Ouch... my head hurts... Mar 31 2008, 11:54 PM
chris914 How do you write 914 stuff off on your taxes? :ro... Apr 1 2008, 12:04 AM Phoenix 914-6GT I wish I could :( ... I just keep all the records ... Apr 1 2008, 12:07 AM Phoenix 914-6GT Yeah, but the IRS already hounds Real Estate agent... Apr 1 2008, 12:20 AM
rick 918-S
Yeah, but the IRS already hounds Real Estate agen... Apr 1 2008, 07:51 AM Gint I quit paying attention to how much I spend on car... Apr 1 2008, 09:10 AM |
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