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Is an off road racing vehicle that prominantly displays the name of the owner purchased by a construction business tax deductible by the construction business as an advertising expense?
Wiki User
∙ 16y ago
In general, the answer is no. You can deduct the cost of painting the sign on the vehicle, but that would be it. An exception would be if the racing itself was done as a trade or business. That would mean the facts and circumstances of the racing would have to meet a preponderance of the 9 factors used by the IRS to determine if an activity is for profit. For weekend racers, that level is rarely attained
Wiki User
∙ 16y ago
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