This is just smart. I've started businesses to finance my hobbies. It's a great tax shelter and smart way to finance fun projects. I would recommend anyone who wants to build project cars to start a business, make the car a business asset, race it, advertise your business and write it off come tax time.
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Originally Posted by M3 Adjuster
doesn't matter. which means that if you fail you can write it all off and start another business.
nowhere near the same as an owner risking his own pride and joy without a safety net.
Not to mention that you can obtain parts at cost.. easier path to sponsorship via purchasing power of the business etc.
once again. not saying that this is not cool.. and not saying to delete anything..
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