So I was driving back from the store and cut through the retirement neighborhood next to mine and I thought to myself, "Why dont you make some fliers pass em around the 2 neighborhoods and mow lawns to supplement the racing?" I mean sure, every guy with a mower, a trailer & a straw hat down here in Florida has their own landscaping business, and I currently mow 2 of my neighbor's lawns. Why not give that a shot? I remember reading that maybe Draik and other race kids do this for a bit of race money, why not you? So the question is this for the race dad. Do you have any separate business insurance set up for that? And do you report those earnings on taxes? I don't want to make a living out of this (I currently enjoy what I do), just figure if I can mow 5-10 lawns a week in my bit of downtime (so, friday evening, saturday or sunday with 1 of those days for riding) it could pay for the riding and maybe some parts here and there.
You'd be silly not to insure it. You may even be able to work something out with your current auto insurance for an umbrella. As far as taxes, that's up to you. I know a local kid who calls his Tuition. "Paying for school with hard work" is his slogan. He's busier than hell.
There is a specific clause in my auto insurance that forbids me from using my vehicle(s) for "commercial purposes". Judging from the local landscapers around here... insurance coverage does not seem really important by the condition of their truck/trailer/equipment. And from reviewing insurance requirements for bids at work... I get migraines from reading all the stupid little coverages various jobs want. One I looked at this week wanted $5,000,000 in umbrella coverage vs the standard $1,000,000. The job total cost was $15,000. Cost of the coverage for a year was $1,250, for 1 stupid job.
Really? Hmm. I have a $1,000,000 umbrella through my personal insurance on a commercial vehicle for work. It runs in addition to my commercial liability from another insurer, and covers job site accidents, as long as the vehicle is on site.
