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My First Paycheck

2353 Views 10 Replies 8 Participants Last post by  novajoe1973
Got my first ever paycheck today from racing ! A whopping $161.25 :rolleyes: Not much , but pretty good for getting paid doing something you love to do. Paid for the race fee , lunch , gas and a little extra for next time.

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Thats awesome man! I'm usually out $60 or so between the TNT fee and gas getting there and back, haha! Getting a check is really cool!
That was a great feeling to get in the money. Showed me I can do it if I can stay focused on the light. Car is really consistant , now its up to me. Missed the win by .147 which was all in a bad reaction.
That's cool but beware of the tax man. I wonder who came up with the name team 211 that's funny.
They already got my social number. As soon as you make it into the final four you need to fill ou the tax form.:mad: No getting around it. Don't know about the name. Didn't even notice it till you mentioned it.
Title 26 of the USC - Income Tax! Booo!

Section 61 of the IRC - gross income is all income from whatever source derived. Unfortunately that includes drag racing. :(
Congrats Joe. That paid for you're front drive line hoop. RICK
Congrats to you. The check means you'll be getting a 1099 I guess.
Congrats. like u said having fun and getting paid
I think you have to win a certain amount in a year before the track sends you a 1099. Last year I only won one race and got something around $180 and never got the 1099.
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