Originally Posted by parrothead
However, if you have a bbq related business, and competing and using this thing along the lines of competing, and is all a part of your business, then deductions and depriciation are in order. Of course you need to claim any prize money also.
Then the trailer rig is also part of the busness. Doesnt need the whole mobile home facilities of bath and kitchen.
I'm sure Chad and others can comment on the business aspect and tax advantages of incorporating.
I see alot of teams that compete and sell their sauce and such are all LLC's. (limited liability companies)
So KC, check on these aspects as you look to finalize your purchase.
"...Best Buy sucks. They suck it long, and they suck it hard." - JazzyBadger
Bandera, M-BGE, WSM, Gold Kettle, Kenmore Gasser, 36Qt Turkey Fryer, ECB, Dutch Oven