Racing as a business

[Jeff]

Kufalk Media...

Primary business objective - Sell advertising for motorcycle industry.

Practices - Websites & racing contingency

Received goods, cash & discounts = income (I don't enter purse classes so there is no $$ there)

All expenses go against received...  

[H-man]

Ahhh... the genius of it.  Excellent Jeff!   Just need to make sure you place some of those ads in mediums not owned or directly connected to you.

Sort of a PR/advertising agency that specializes in placement for motorcyclist.  You'll have to tell me a bit about how this works this w/e.  One, because I'm interested.  Two, I'll give you one of my cards and it'll provide add'l evidence that the trip and related expenses are connected to your ongoing business.

  H.

[spyderchick]

BTW, how large is your lot?  Is that grass getting long again? ;) ;D

   H.

I rent, therefore, they mow. ;) ;D

[motomadness]

The books showed up Saturday.  I'll rent the first own for $10/week.   ;D

Hopefully, I'll get a chance to read them this week.  I'll let you know what I think.

[H-man]

Read The New Racer's Tax Guide first.    IMO  8)

  H.

[spyderchick]

What? Old racers don't have to pay taxes???? Yippeeeee! ;) ;D