Quote:
Originally Posted by Irace007
Do you pay TAXES on your WINNINGS ?? If so then it's a BUSINESS
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Yeah,yeah,yeah, I tried to play that game in N.J. for a long time. Over X amount of dollars you pay taxes on your winnings whether you're a business or not. They also don't like you trying to claim your expenses to offset your winnings.
There are very few Sportsman Racers who can get away with claiming their racing as a business. I DO believe that it is a Sport though.