Client has a racing car and wants to put it on Sch C. He only bought a motor for it! Nothing else. He says "his buddies" at the plant put it on their taxes too. This is cosidered as a hobby. Right?
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Car Racing
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Not even quite a hobby yet
In my opinion SueBaby. When someone comes in with the "Race Car" business I tell them we will start the form as soon as they have some income. Haven't started one yet.In other words, a democratic government is the only one in which those who vote for a tax can escape the obligation to pay it.
Alexis de Tocqueville
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Originally posted by DaveO View PostIn my opinion SueBaby. When someone comes in with the "Race Car" business I tell them we will start the form as soon as they have some income. Haven't started one yet.SueBaby
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