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Speed Phenom is selling his GT500 CFTP...

460Fred

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I'm pretty sure these YT'ers that buy cars get to write them off as an expense against the income they're earning on their tax returns.

The car is just the tool they use to earn income from YT videos. Any expense that's incurred in earning that same income can be written off. That's how it generally works in the tax system and I'd be surprised if it isn't the same here.
Do you guys really understand how a business is able to write something off? First off you need to be a profitable business, at least you need to be profitable within a couple years.
In the case with SF, Iā€™ll guarantee heā€™s not making enough from utube currently to show any profit. Heā€˜ll need to soon if he wants to keep going. Maybe he rolls all this into his other business/businesses, I donā€™t know.
Writing something off does not mean itā€™s free to the business owner, it just means you donā€™t pay as much tax because your income is lower.
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Mustang_Lou

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Writing something off does not mean itā€™s free to the business owner, it just means you donā€™t pay as much tax because your income is lower.
Exactly, never said it was free ... and I think you underestimate what income is being generated. I'm seeing this type of thing with motorcycle YT'ers now as well.
 

460Fred

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shogun32

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Do shorter vids (10min needed to earn) and more frequently.
Granted if your only source of content is track days on a single car or two, you don't have the earning power of SavageGeese or Throttle House.

I found it revealing that he thinks the Ford "track specs" were actually correct and proper. Hey how about a video series about running 2 deg vs 2.7deg vs 3.2 deg and effects on tire wear. And an in-line flow meter on the gas line to plot in real time with his videos to see how he's burning and maybe just use part-throttle on the straights. What's the point of going fast in a straight line anyway? Skill is to be found in maximizing entry, mid and exiting speed.

Straights are for stretching your hamstring, scratching your ass, and taking a sip from the RedBull.
 

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fatony618

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People like him wouldnā€™t be on the radar if everyone didnā€™t care so much.

Who gives a flying about this guy and his opinion?

Hes no better than the half naked women and other tools doing whatever that can to stay relevant and rack up that like count.
Great comment. You tubers exist for shock value, clicks and likes and here we are dedicating a thread and 5 pages of comments towards him. We are all to blame and he got what he is after. Lol.

He is def a rich kid who has family income outside of youtube. He will prob get a 600LT or 720S next and this is the best way to get a ton of views and generate a buzz to sell the GT500.
 

V00D00

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I have 0 doubts he doesnt care about the cost of tracking, he cares about lack of interesting content; and the car itself vs a 350 for enjoyment is no longer justified. Good riddance
 

FreddyG

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People like him wouldnā€™t be on the radar if everyone didnā€™t care so much.

Who gives a flying about this guy and his opinion?

Hes no better than the half naked women and other tools doing whatever that can to stay relevant and rack up that like count.
I agree 1000%!

He's selling a car that Youtuber's probably bought through clicks and will move onto the next interesting vehicle that is more popular now. I'm not saying that the GT500 isn't popular, but it's all about clicks and views for him and when the clicks stop, then the car goes. He moves on to something that is more relevant.

That's how they make their money (nothing wrong with that either). Heck, there is a 6 year old kid that does toy reviews that made $17 million last year! It's a CRAZY world!
 

460Fred

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I agree 1000%!
Heck, there is a 6 year old kid that does toy reviews that made $17 million last year! It's a CRAZY world!
That kid is a paid actor. You wouldnā€™t believe who was the brains behind him.
 

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Inthehighdesert

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Iā€™m pretty sure thereā€™s a fair amount of us on this forum that are very familiar with how a business and right offs work. If heā€™s having an issue with expensing a couple grand for tires and fuel successfully, heā€™s doing something seriously wrong. Even with the limited funds provided by youtube with his subscribers.
Do you guys really understand how a business is able to write something off? First off you need to be a profitable business, at least you need to be profitable within a couple years.
In the case with SF, Iā€™ll guarantee heā€™s not making enough from utube currently to show any profit. Heā€˜ll need to soon if he wants to keep going. Maybe he rolls all this into his other business/businesses, I donā€™t know.
Writing something off does not mean itā€™s free to the business owner, it just means you donā€™t pay as much tax because your income is lower.
 

WildHorse

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shelby guys are weirdos
Exactly.

Him: Wanna drive to the limits in a 4000 lb car
Also him : gonna sell this POS cause the tires only lasted 3 laps.

Welcome to the world of tracking in a heavy car JR.
 

lonegunman

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Betting money says, Biden won and his trust fund is drying up a bit and he is going back to a Prius or maybe a Civic hybrid.

Maybe he can put the money towards girls, actual in person girls.
 

2morrow

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Speed phenom screams virgin to me.
This is the funniest thing I've heard/read today! I literally lol'ed!
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