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Starting an Auto Racing Business - Become an Entrepreneur ...
https://www.gaebler.com/Starting-an-Auto-Racing-Business.htm
Business Plan Mechanics for Auto Racing Businesses. Haven't created a business plan for …
Racing, a business for pleasure - Harness Racing Update
https://harnessracingupdate.com/2022/05/08/racing-a-business-for-pleasure/
You think you can beat your competition. You believe you will be one of the few who make it work and make a profit. Owning a young racehorse is a hybrid; part sport, part business, part hobby, and lots of fun for business-oriented people. These days retired business folks are on every corner. Bored millionaires are on every block.
Learn How to Start Your Own Auto Racing Business - …
http://www.macsracing.com/learn-how-to-start-your-own-auto-racing-business/
So, if you have been wondering about getting your racing business on the road, these are the initial steps you must take: Write a business plan. If …
WHY HORSE RACING BUSINESS?
http://www.horseracingbusiness.com/why-racing-business
WHY HORSE RACING BUSINESS? In horse racing, the first to the finish line wins and, barring a claim of foul, subjectivity and judgment matter naught. Racing is as close as one can get to an equal-opportunity proposition. A royally-bred yearling that goes through the auction ring for a seven-figure sum eventually has to prove its worth on the ...
How to Start a Horse Racing Business | Bizfluent
https://bizfluent.com/13641956/how-to-start-a-horse-racing-business
Horse racing is serious business. The industry is worth an estimated $40 billion in the United States alone, and the global popularity of the sport is even larger. This results in large payoffs for the few who are lucky enough to produce a champion. Since even losing horses can be carried as a tax write-off, many ...
Solved: Racecar driver- hobby vs business?
https://ttlc.intuit.com/community/taxes/discussion/racecar-driver-hobby-vs-business/00/571061
Conversely, if you manage your racing related finances, and make (and can document) prudent business decisions to make the racing activity profitable, the IRS will be far more likely to treat the activity as a business. There is a risk with racing, the IRS will try and treat enjoyable activities as hobbies because they are fun. Documentation is the only thing that can …
Turning your race team into a buisness | race-deZert
https://www.race-dezert.com/forum/threads/turning-your-race-team-into-a-buisness.80516/
If you're just a hobbyist, you can only deduct $5,000 ($5k + $5k matches the total of your race income). So you can report $0 income from racing on your taxes. If you're a legitimate business, and just having a bad year, you can probably deduct a loss of $2,500 and reduce the loss from your taxable personal income.
Horse Racing Business
http://www.horseracingbusiness.com/
Prior to the Kentucky Derby, the colt had won one race from seven starts, was claimed for $30,000, had pedestrian speed figures and lost five races in a row, was trained by an individual that one does not associate with premier racing, and was ridden by a jockey that had never won a graded stake.
Master Your Money | Sapling
https://www.sapling.com/7879552/auto-racing-tax-deductions
Common Racing Business Tax Deductions. If you can prove that your pursuit of auto racing glory should qualify as a for-profit activity, then the tax rules allow deductions for many of the related costs. Commonly incurred deductions related to operating an auto racing business may include expenditures for supplies (gas, oil, tires and other ...
Racing 4 Business
https://www.racing4business.com/
Racing4Business provides an innovative source for finding new clients and winning new business through experiencing the fun and enjoyment of owning a real thoroughbred racehorse. We create syndicates of like-minded entrepreneurs and organisations who want to promote their business, reward staff and impress clients.
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