Episode 99
Writing Off Your Racecar [E099]
In this year's first episode, join CPA and racing enthusiast Hunt Demarest as he explores the intersection of race car enthusiasm and savvy business tactics. We're tackling the complex world of race car expenses and their tax implications:
- New Year's Goals: Discover Hunt's unique blend of personal and professional resolutions.
- Racing vs. Accounting: A deep dive into the cost-effectiveness and passion behind racing and its comparison to accounting.
- Debunking Tax Myths: Learn the truth about race car expenses and tax deductions.
- IRS Perspectives: Understand the fine line between hobby expenses and legitimate business costs.
- Audit Insights: Real-world stories from IRS audits related to race car expenditures.
- Expert Strategies: Practical advice for race car owners on aligning their hobby with business and tax regulations.
- Audit Preparedness: Tips on documentation and audit defense strategies."
Thanks to our partners, NAPA TRACS and Promotive
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It’s time to hire a superstar for your business; what a grind you have in front of you. Great news, you don’t have to go it alone. Introducing Promotive, a full-service staffing solution for your shop. Promotive has over 40 years of recruiting and automotive experience. If you need qualified technicians and service advisors and want to offload the heavy lifting, visit www.gopromotive.com.
Paar Melis and Associates – Accountants Specializing in Automotive Repair
Visit us Online: www.paarmelis.com
Email Hunt: podcast@paarmelis.com
Get a copy of my Book: Download Here
