Motorsports Tax Services
Tax Planning and Preparation for your Motorsports Business
Our founder, Marlene Van Sickle, has been racing cars for years, so the motorsports industry has become one of our tax specialties. We can anticipate racing-specific expenses, how to treat them, and what tax advantages are available to you. Our clients include a race team and several companies that sell performance parts and accessories for the motorsports industry.
In addition to preparing your motorsports business tax return, we recommend our firm also prepare and file your personal 1040 return. This ensures you receive the most advantageous tax benefit for both your motorsports business and your personal return.
Motorsports Business Tax Package Features
Expense Analysis
Over 60% of the tax returns we review contain errors or missed opportunities. We will assess and analyze your motorsports company's annual business expenses to ensure you are receiving every legal opportunity to reduce your tax burden. We ask our clients to use QuickBooks Online.
Business Tax Filing
We will prepare the appropriate tax return for you: 1120, 1120S, 1065 and 1040 return with appropriate Schedule E for corporation owners, OR Schedule C on 1040 returns for non-corporation owners. We also will do extension filing, as needed, and prepare estimated tax payment vouchers.
Quarterly Check-in
We provide ongoing tax consulting as part of our annual engagement with your company. Each year, we will review your company's financials every quarter to optimize your tax planning. We will contact you with any concerns or to let you know that everything is on track for the year, giving you peace of mind.
Access to Experts
In addition to quarterly reviews, we also include year-round access to our tax team to help address surprises and changes that occasionally happen. Simply send us an email or schedule a quick phone call and we will discuss whatever tax concerns you have.
Customized your Package with Additional Services
Based on the needs of your motorsports company, we offer additional services that can be added to your business tax preparation package. These services include LLC setup, S-corp election analysis and filing, and Quickbooks Online setup. Any additional service will be priced upfront and can be included within a payment plan.
We are here to help you, so ask us about other tax-related services you may need. There’s a good chance we can complete your request or we know someone qualified who can.
"Using my time to forge the future of my company while the CPA firm that I trust plans my tax strategy…priceless."
Bo Rivers, founder and owner, Harris Hill Raceway