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Tax/ riding question

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If I get custom graphics that advertise my business. Can I write off the cost of riding as an advertising expense?

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If I get custom graphics that advertise my business. Can I write off the cost of riding as an advertising expense?

No idea, but if so, why not have the bike as a company vehicle and write off it's cost and depreciation too?

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Anything that is purchased by your business for advertising could arguably called an expense and comes out of your gross profit prior to calculating taxes (just like business cards, signage, vehicle decals, etc). It might be wise to have your invoices read 'custom signage' rather than 'dirtbike decals', might raise a few flags.

Is this what you're asking :cry:

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Ya... you could absolutely write off the decals.

The track fees, gas, and upkeep on the bike starts to get tricky, as to be a deduction it must be specifically targeted as promoting the business. I've heard of people who leave a business card with the waiter when they go out to eat and write off that meal. That's pushing it.

You'll probably get away with it until you're called in for an audit. The problem is, they can go back 3 years. If they find evidence of fraud, they can then go back FIVE years.

I think the only way you could pull it off and still be audit-proof would be if your business were related to MX like Zip-Ty. If you're selling Amway, Herbalife, or Avon, you've already got one red flag showing for an audit, and just slapping a logo on the tank won't fly.

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Based on the US Tax Court rulings that I've read, the only way you can do this is if your business is motorcycle related. For example, if you sold accessories for dirt bikes, you could justify your riding expenses as an opportunity to meet new customers and sell product. Even if this is the case, the court is very stringent on what expenses are allowed.

Realistically its not worth the hassle unless your going to races/meets almost every weekend. If you decide to pursue this further, consult a CPA first. Will save you major headaches later.

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Realistically its not worth the hassle unless your going to races/meets almost every weekend. If you decide to pursue this further, consult a CPA first. Will save you major headaches later.

Quite true... and even if you ARE riding non-competition track every weekend, admission is $20.00. $20*52 weekends is (interestingly enough) $1040.

The MOST that you could conceiveably recover from that would be $312, assuming you're in the 30% bracket.

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