Quote:
Originally Posted by Tar Heel
Ok, I know that we aren't going to make money ... not the point. But we need some business/tax advice. I'm a HS math teacher/coach and my wife is an elementary school principal. We've both been educators for 20 years to give you a rough idea of our income. We race a Pure Stock C5 in IHRA and recently purchased a motorhome. Is there a tax advantage to starting our own business and writing off racing expenses including the RV? Any advice on the topic would be helpful.
Thanks!
Wendy & Scott
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I would talk to your tax person
What you asked of people on here wont matter its you tax people who can advise you
Now that said I assume you will get many people here giving advise....