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Topic: How are drivers paid at the end of the night?
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Page 1 of 1 of 5 replies
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September 27, 2019 at
09:10:44 AM
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This message was edited on
September 27, 2019 at
10:57:22 AM by larsonfan
I have always wondered this:
- How are drivers/teams paid at the end of the night at the track? Is there a "pay window"?
- or.... are they mailed a check later?
- How does a driver/team claim their earnings come tax time?
- If driver X wins say $100k at a big race, are they taxed the usual 30-some percent by Uncle Sam, so they actually won approx $70k?
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September 27, 2019 at
10:45:15 AM
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Pay is done both ways depending on track or sanction.
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September 27, 2019 at
12:15:02 PM
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If the driver is not the team owner the payout goes to the car owner/race team, usually at the end of the night. At the end of the year the team will be provided a w-9 to go report on their taxes. The team pays the driver and usually the team would provide a w-9 to the driver at the end of the year.
If the driver is the car owner as well he collects all payment and then recieves the w-9
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September 27, 2019 at
01:04:45 PM
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The outlaws used to direct deposit for their fulltime teams. Not sure if they still do or not. Most tracks and series pay by check. Some have paid with cash. Some have paid by check that bounced. That's always a joy. Most will mail them if for some reason you don't pick it up at the end of the night. Reaons for that could be leaving early due to crash or not making the A main. Or even the second night of a two night show getting rained out. We've experienced about all of the above. As said above, the payout goes to the car owner. It's between him and the driver as to how it's split and paid. Most owners have more expenses than they do race winnings. If they're lucky enough to have big enough sponsors they might come out ahead and have to pay some tax. But I bet very few actually show a profit.
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September 27, 2019 at
04:14:57 PM
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Reply to:
Posted By: MoOpenwheel on September 27 2019 at 01:04:45 PM
The outlaws used to direct deposit for their fulltime teams. Not sure if they still do or not. Most tracks and series pay by check. Some have paid with cash. Some have paid by check that bounced. That's always a joy. Most will mail them if for some reason you don't pick it up at the end of the night. Reaons for that could be leaving early due to crash or not making the A main. Or even the second night of a two night show getting rained out. We've experienced about all of the above. As said above, the payout goes to the car owner. It's between him and the driver as to how it's split and paid. Most owners have more expenses than they do race winnings. If they're lucky enough to have big enough sponsors they might come out ahead and have to pay some tax. But I bet very few actually show a profit.
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Thanks to all.
So your race team is actually a "business" that either has made a profit or has lost money in terms of filing taxes?
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September 27, 2019 at
06:20:55 PM
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I remember 1 night after the races at The Big E I walked up just to see who was in the line to get payed. Well one of them got his money kinda stopped beside me while he was counting it & next thing I knew there was cash everywhere. I didn't even try to help for fear of getting one upside the head. The driver said "Guess I oughta not do that". I said guess not.
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