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In our previous article about tax tips for motorsports businesses, a basic sole proprietorship was described. It is a simple business form from a taxation standpoint. Once business activities, income, and expenses become significant, a sole proprietorship may not be the best. More indemnification and accounting flexibility may be needed. An accounting example would be […]
They say nothing in life is certain except for death and taxes. In most parts of the world, taxes are part of life and part of running a motorsports business. In the US, large expenses associated with running an engine building business are federal, state and local taxes. This article will focus on the United […]
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