Auto Racing Tax Deductions

Posted on by

For many people, nothing surpasses the feeling of bombing down the racetrack at breakneck speed, passing a rival while the wind sweeps through your hair, engine grease sticks under your fingernails and a whiff of unburnt fossil fuel lingers about your nostrils. The only thing remotely comparable to winning the race might be claiming tax deductions for your efforts. Well, if your car has the right set-up, then the government may let you do just that.

Business vs. Hobby Activity
One approach to substantiating tax deductions for auto racing expenses involves characterizing the undertaking as a business rather than hobby activity under Treasury Regulation Section 1.183-2. For an example of how to do so, look to the case of Morrissey v. Commissioner, which concerned a banker who operated a competitive drag racing outfit. The taxpayer proved that he entered into racing with the actual and honest intent to earn a profit, and therefore, the court allowed him to claim deductions for racing-related expenses. Critical factors in this determination included that Morrissey had obtained sponsorship from a local casino, actively worked to make his car more competitive, enjoyed previous success in drag racing, prepared detailed business plans and maintained a separate bank account for racing transactions. (Morrissey v. Commissioner, T.C. Memo 2005-86)

view full post »

Famous Filipino Food Recipes At Lutong Bahay For Anyone To Learn

Posted on by

Of course, famous Filipino food or pagkaing Pinoy recipes are served in Filipino gatherings. The lutong bahay website now makes these Filipino food recipes available online so that Filipinos and non-Filipinos alike can also learn how to prepare them. Anyone can access and download the dishes easily and quickly from any point of the globe where there is a working internet connection. The lutong bahay website should not be interchanged with lutong pinoy website, though.

The full range of Pilipino cuisine is broadly and almost completely presented at the lutong bahay website, where various types of Filipino lutong bahay foods are categorized as Pinoy breakfast recipes, viands or lutong ulam recipes, snacks or merienda recipes and party dishes. The free recipes are made even more tempting with pictures from the Philippines.

view full post »

Recreational Activities At Monticello Reservoir

Posted on by

Monticello Reservoir, also known as Lake Monticello by local residents, is a quiet lake in the central midlands region of South Carolina. It is an easy 30 minute drive north of Columbia. The main part of the lake covers nearly 7,000 acres with 51 miles of shoreline. The smaller 300-acre Monticello Recreation Lake is located just north of the main lake, separated by a dike where Highway 99 crosses over. Monticello Reservoir provides opportunities for year round recreational activities.

The lake is owned and managed by the South Carolina Electric & Gas Company. It was built in the late 1970s for the V.C. Summer Nuclear Generating Station, which provides electric power for the region. Although the dam impounds Frees Creek, the reservoir also receives water from the Broad River through nearby Parr Reservoir. The electric company owns a buffer of land around the shoreline of the entire lake to maintain its natural beauty and prevent overdevelopment.

view full post »

Emergence Of Sport Tech In Technical Textile Industry

Posted on by

Today sports in India have achieved a peak in terms of popularity and as a career option. Olympics, Commonwealth Games, Asian Games, SAF Games, Wimbledon and many other world sports tournaments see Indians as one of the most leading sports participants in the world. From Tendulkar, Paes, Bhupathi, Anand, Geet Sethi, Karthikeyan to Sania Mirza lead the present sports generation of India. Cricket, Hockey, Football, Snooker, weightlifting, Kabaddi, Kho Kho and Archery are the sports of India that have been deep seated into an Indian psyche, whether of a sports person or a sports lover. Not only physical strength, power and satisfaction but also a strong alternative of recreation; sports in India have covered a long way towards the road of success and have made themselves a hallmark in the world of sports.

Sports footwear includes appropriate shoes for different sports. Keeping in view the movement of feet and the type of surface on which a sport is played, the shoes uppers and soles are designed to meet the varying performance requirements.

view full post »

Dorel Industries Inc. Company Profile And Swot Analysis

Posted on by

The profile contains a company overview, business description, financial ratios, SWOT analysis, key facts, key employees, as well as information on products and services. http://www.companyprofilesandconferences.com/report/Dorel-Industries-Inc-Company-Profile-and-SWOT-Analysis.html

Summary
This SWOT analysis and company profile is a crucial resource for industry executives and anyone looking to gain a better understanding of the company’s business. ‘Dorel Industries Inc.: Company Profile and SWOT Analysis’ report utilizes a wide range of primary and secondary sources, which are analyzed and presented in a consistent and easily accessible format. WMI strictly follows a standardized research methodology to ensure high levels of data quality and these characteristics guarantee a unique report.

view full post »