class racing as a business?

[Tom Goldman]

Originally Posted by SStockDart

Well.......you won a couple.......am I way off? The last time I figured contingency for Super Stock, it would have been around $25,000 per event. That was several years ago and I know it is significantly less now, but figured around $17,500. Please correct me.

National events pay nowhere near what they used to .
In '96 I made $13,000 for a r/u at Virginia , in '08 I made $8,000 for a r/u at Maple Grove.
This years win at Englishtown will only be worth about $11,000.
I am finding that the checks are coming a little slower than in the past ,but I've already recieved more than half of the checks .
I might have made about $1200 more ,if I played the decal game to the fullest, but I didn't, so my loss.
I'm finding it very hard to keep more than 30 legitimate decals on the car.
As far as the original question, keep detailed records of all your expenses for every race. ....You can legitamately deduct reasonable travel ,food , entry, membership and other expenses , such as race fuel incured at the event you recieved winnings from.
You should also be able to deduct interest paid on your motorhome loan since it can be considered a second home.