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Starting your own MX team

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Why is it when I go to a track, there are so many parents with rigs that state their team name? Is this an ego thing? Or is it some kind of tax break to form your own team (write off all of those entry fees, gate fees, bikes, parts, etc.)? Any help would be great- thanks!

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Part of it is ego. part of it is to just get the kids to feel more like a part motocross. Part of it is to seperate one family from another, makes them stand out from every other family. They arnt actually forming a team, theres no money involved in amature racing, theres nothing wrong making a "team" name.

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Its ego. They are trying to look like big-time motocross racers even though they arent.

It makes it all the more fun beating them when you are the guy with an old bike, wearing faded riding gear and rolling up to the track with an old, rusted-out pickup truck.

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I would say ego......But if they own their own business they could have the whole season's expenses written off if they set up a sponsorship. That could include bikes and everything else including that big fancy rig.

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hmmm im going to spray paint a team name on the side of my beater camper and see how that goes

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If you own a business and have a sponsored "team" you can write most costs off.My friend ownes a suspension shop that sponsors us and he writes off alot of our racing and riding trips as test days.I agree most family teams do it for ego, but whats wrong with a family wanting to make things more fun for their kids?

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Yup, write offs. I write off everything moto related. Race not that often, professional practicer but I love the write offs. And no it is not fair, I know.

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how does this stuff work? my dad owns a business that sponsors me im curious how the write offs work

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how does this stuff work? my dad owns a business that sponsors me im curious how the write offs work

Ask an accountant

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If your dad has a business, he should have a acountant that does his taxes and that person should know what to do. Your team name will then be your dads business name racing team, when he files his business taxes he will claim sponsorship on his tax returns for his business. His accountant should know know to do all that, just keep all reciepts that are for racing the team.:thumbsup:

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My team just do have a team name for the heck of it. We are really serious in to racing, we just like to go out and have a good time.

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ya i get all of that but write offs dont actually give you all your money back do they?

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I have a parts business " Petitt Racing". I raced several Arenacross races this year and used my business account for entry, gas, hotels, food etc. I was able to write everthing off as advertising for my business, because I listed my business as a sponsor and had decals on my bike. Every bit of it was legal.

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I have a parts business " Petitt Racing". I raced several Arenacross races this year and used my business account for entry, gas, hotels, food etc. I was able to write everthing off as advertising for my business, because I listed my business as a sponsor and had decals on my bike. Every bit of it was legal.

Is it worth the hassle? like how much do you get back? My parents own a business and we have been thinking about doing the same thing. Cause like someone said..every little bit helps. :thumbsup:

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Is it worth the hassle? like how much do you get back? My parents own a business and we have been thinking about doing the same thing. Cause like someone said..every little bit helps. :thumbsup:

I raced 8 races( Arenacross). So figure gas from Florida to Oklahoma to Conn. and everything in between. Then figure entry 40.00 x8; hotels+ usually 2 nites per race, which was 1600.00, pluss food. I wrote off close to 5000.00 last year, but it depends on how much you race I guess. It was well worth it for me.

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Why is it when I go to a track, there are so many parents with rigs that state their team name? Is this an ego thing? Or is it some kind of tax break to form your own team (write off all of those entry fees, gate fees, bikes, parts, etc.)? Any help would be great- thanks!

A few mates and i go riding a lot.We're not part of any official team organistion,but we are "Team Coastal".No sponsors or money or even any real racing.A couple of us do have race licences,but only to buy race fuel.No tax breaks.Name on our trailer is all show for ego.......[Doubles as marker for drunken staggers back to home site.]

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Ask an accountant

I don't think "Plumber's Crack Racing" would be taken seriously by anyone! :thumbsup:

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