This good tax man, is he from Wisconsin and only asks a buck ninty eight for his services?
Kevin Weaver/Jimmy John's
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Nice to see a big company willing to sponsor both NASCAR and a regional dirt racer. Auto racing in general needs more of this. Kevin consistently runs tracks that are in the back yard of the Jimmy John's HQ. Can't be a bad thing.Originally posted by dirty-white-boy View PostFirst off, I love Kevin Weaver. But why does Jimmy John's come back and give him money? I am not a Harvard grad but wouldn't it make more sense to give it to a Lucas driver that gets TV coverage and is a top national touring team?
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There is no free lunch. The advertisement costs money. It may drop you a tax bracket on your taxable income, or it may not, if your not close. The only way it costs nothing, is if every one that sees Kevin's car, buys a couple sandwiches every week.
Had this conversation with a friend, who is a partial sponsor. He has his corporate name on the car, but not the retail name. There was no way the market could give him a return on his ad investment. The fans don't know who and where to buy. The money he gives away, costs him and there is no chance of any coming back. Not chump change, this can run 10k a year. If he didn't give this money to that driver, he could put it in his pocket. He would only be paying 8% tax on it, when done and avoid paying personal income tax by claiming it was spent on corp cost. Entertainment or corp wheels. He said he gave the money to him, because he liked him, but if the racer promoted for him, he might be able to give more.
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Couldn't agree with you more.Originally posted by Uncle Rico View PostNice to see a big company willing to sponsor both NASCAR and a regional dirt racer. Auto racing in general needs more of this. Kevin consistently runs tracks that are in the back yard of the Jimmy John's HQ. Can't be a bad thing.
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Glad Kevin got this much needed help. Enjoy the ride folks. His career is winding down for sure. Amazing what he can do with a single car trailer and volunteer help. Sure would like to see him add 1 more big race to his resume.8/13/16
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Yes, it's a write off, but it still costs them. If it didn't cost them a thing then every company / business would have their name on a racecar. Not sure why some people think when a company has a "write off" it doesn't cost them?Originally posted by Cardirt0 View PostDont cost JJs a thing they wright it off as Adverting.
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