honda contingency

[TRK]

http://powersports.honda.com/documentum/racing_contingency_plan/payout_schedules/2010_road-race.pdf

Sucks we didn't make the list :cry: .

[cromer611]

sure do!

[rybo]

I saw this and am already in touch with them, I think it's an oversight as our request went out in September.

Scott

[mtrain]

I saw this and am already in touch with them, I think it's an oversight as our request went out in September.

Scott

Scott, do we know for certain that there will be $$ for the MRA, and will the payout be similar to the other organizations.

Mark.

[rybo]

Mark,

I'm sorry for missing this thread on the back end.

Honda will not be offering contingency to the MRA in 2011.
this comes as a result of no rider in the MRA claiming Honda contingency in the last 5 years. Honda, seeing that we are not an active Honda club has decided to move their resources elsewhere in 2011.

Scott

[mtrain]

Mark,

I'm sorry for missing this thread on the back end.

Honda will not be offering contingency to the MRA in 2011.
this comes as a result of no rider in the MRA claiming Honda contingency in the last 5 years. Honda, seeing that we are not an active Honda club has decided to move their resources elsewhere in 2011.

Scott
that's lame, it would of been nice to collect 500 snaps for winning a MOD VIN race.

Mark.

[rybo]

Mark,

Manufacturer contingency generally only pays on modern bikes in limited classes.

For example, last year's Honda Contingency program paid in:

ROR-O
ROR-U
MW Superbike
Open Superbike

For 4 rounds (1 Pueblo, 3 HPR)

On 2009 - 2010 MY
CBR600RR
CBR1000RR


My old Ducati and your old RC51 haven't been contingency eligible for quite some time. :-)

[Jon]

It's the same with other clubs that didn't have riders competing on their bikes last season but then again, they didn't pay a whole lot then either.

[Jon]

Rybo,
BTW your model of Ducati was never eligible for contingency. LOL
I as a Ducati rider/racer along with my accountant who BTW, just about died when I told him I was going to race something that cost that kind of $$ and deduct the cost over years just have the passion as red runs through our veins......as the $$ pours out our wallets

[jmaher]

.... and deduct the cost over years just have the passion as red runs through our veins......as the $$ pours out our wallets

I can deduct my racing???? :shock:

If that is the case I need to get to a BMW dealer!

Joe

[rybo]

.... and deduct the cost over years just have the passion as red runs through our veins......as the $$ pours out our wallets

I can deduct my racing???? :shock:

If that is the case I need to get to a BMW dealer!

Joe

Joe,

Sort of. In order to do it you'd have to show that you are making a reasonable attempt to make money while racing. This could come in the form of sponsorships, contingency money, advertising etc.

The other way to do it is to have some other business that you own "sponsor" your racing effort.

The best thing to do is to talk to your accountant and see if it's worth pursuing.

Scott

[rybo]

Rybo,
BTW your model of Ducati was never eligible for contingency. LOL
I as a Ducati rider/racer along with my accountant who BTW, just about died when I told him I was going to race something that cost that kind of $$ and deduct the cost over years just have the passion as red runs through our veins......as the $$ pours out our wallets

Jon,

I can't afford to race new bikes, Ducati or not, so I won't be getting Manufacturer contingecy in my lifetime. If I can manage to keep the tire bill at bay it's a good good day.

s

[JimWilson29]

.... and deduct the cost over years just have the passion as red runs through our veins......as the $$ pours out our wallets

I can deduct my racing???? :shock:

If that is the case I need to get to a BMW dealer!

Joe

Buy this book - http://www.speedwaymotors.com/Book-The-New-Racers-Tax-Guide,2800.html

[jmaher]

Actually, I write off my camera for working for scooternews (Nikon D3S coming my way soon!). I'm pretty sure the IRS would give me more than I sideway glance if I tried to go that far. The only way I could win money is if there were a mass food poisoning outbreak with lots of nasty side effects just before the races start with everyone but me getting it.

Joe

[JimWilson29]

Actually, I write off my camera for working for scooternews (Nikon D3S coming my way soon!). I'm pretty sure the IRS would give me more than I sideway glance if I tried to go that far. The only way I could win money is if there were a mass food poisoning outbreak with lots of nasty side effects just before the races start with everyone but me getting it.

Joe

You dont necessarily have to win money, you have to show the intent to earn money and have that documented in your business plan.

[mtrain]

It's the same with other clubs that didn't have riders competing on their bikes last season but then again, they didn't pay a whole lot then either.

You're right Looking back over the last several years, Honda has been paying out chump change. Suzuki was killing them on the race track, they new it, and knowing that, IMO never felt the need to put decent contingency money on the table.

Mtrain.

[cromer611]

aaand thenn...... there is kawi.....