What's your Midlife Crissis car

puts a smile to my face every time I turn it on

 

Well thats six hundred more than what I have.

Nice one. Sounds like a fun toy.

 

I need more money

 

The bummer about that is the costs can only be written off against winnings and sponsorships, so if you suck you get no benefit financially. If you get sponsors and make revenue, you’re beholden to sponsors to show up.

we did the latter for a while but sometimes when it’s 110 in Vegas and 130+ on the track, saying fuck it and going out on the boat sounds more tempting

 

When I was in High School I drove a beat up shit show 80s Subaru (id love to have it today). All I wanted was that Black Single cab Toyota Pickup.

The 23 PRO MT goes weeks without moving...

 

Apparently my mom wants me to have a 2024 911 Carrera

 

James Bond's first wheels in: "Dr. No.": 1962 Sunbeam Alpine Series II ...and the rest is history. Sweet car.



https://www.007james.com/articles/list_of_james_bond_cars.php

 

Don't tempt me.

 

Thanks!

 

Congrats on the retirement! Sure makes the wind in your hair a little more windy!! Found it in my little bitty town, guy that owned it was a salesman at the local chevy place, bought it new in 2012 and had it stored in the garage. Had 28k miles on it when I bought it!!

 

IRS hobby vs business loss rules? Or is that some type of limitation baked into a sponsorship contract?

 

Lots of people bend the rules with faking sponsorships from one company they own as advertising for another, but basically you cannot take losses from the race team against anything except the race team’s revenue.

So sponsorship money is revenue that can be offset by losses, but you cannot use the cost of running a team to offset, say, your plumbing business profits.

 

This was a pure nostalgia purchase for me. 126k but single owner and surprisingly bone stock.



Bunch of maintenance to be done, already did some, and fixing all the little odds and ends. Came from the south so there is very little rust anywhere which was a huge selling point for me.

 

Figured that was what you were implying. Hobby vs business, active vs passive, common ownership, etc.

Funding of recreational activities under the guise of it being a "business".

 

Awesome find!

Would love to find another 1996 - 1998 Cobra. A lot of people don't like the SN95 body style but something about that front bumper and the nostrils on the hood.