Putucky Payout
 

Just want to hear from some other racers if they heard anything about the payout for last season. From what i understood and was told "you have to buy fuel and tires from the track if you dont you wont get your money at the end of the season". Thats fine i understand that and can deal with it. But next the racers were told on the frontstrech during the banquet after the last race at 1am that our checks were going to be mailed with our 1099's. Did that happen NOPE. Thinking that it was a freak accident i called my buddy Robbie Rice to see if he got anything and guess what his answer was. ?????? yep you guess it. He didnt get S*^T either. So next year instead of making the 45 min drive to putnamville every week i will make the hour and half drive to the burg. I feel as a racer i have been bent over one to many times by the management at Putucky. I love the track and the fans that come to see us race there but enough is enough. I have supported the track and tried to get more sprint cars to race there last year and made myself look like a ***** for no apparent reason. So if anybody knows anything about what is going on feel free to write back.

P.S. I have all of the reciepts from every gallon of fuel and Tires that i purchased.

Re: Putucky Payout
 

It is my inderstanding that AJ Martin has recieved NOTHING either.... But then again.... I should keep my thoughts to myself:headbang

Re: Putucky Payout
 

SOUNDS LIKE & LOOKS LIKE THE BOMBER BOYS TOOK IT IN THE REAR ALSO.WE ALSO HAVE ALL OF OUR RECEIPTS TO.
WHAT HAPPENED TO THE MONEY THAT WAS IN THE 50/50 POINT FUND.DA IS BUILDING A NEW 5 STORY HOME.BEND OVER & SAY AHHHH.THERE WILL BE ONE LESS BOMBER THERE THIS YEAR FOR SURE.WE HAVE NOT MISSED A RACE SINCE THIS DUMBA$$ TOOK OVER. :thumbsdown: :thumbsdown:

Re: Putucky Payout
 

i just spoke with DA himself...they are being mailed out this week

Re: Putucky Payout
 

I don't know anything about the payout you are talking about... but I've often wondered how much crap would racers put up with before they stopped supporting this track.:action-smiley-049: Maybe that time has come unless we see major changes.

It is a shame because I remember the days when the hillside was packed with fans... the racers packed the pits... and a track that was very racy.... Now, I just get pissed every time I think I about the place.

Re: Putucky Payout
 

I just dont understand why you would want to piss off the few remaining supporters of your track....I know myself, Billy, the Carmichaels, Krockenbergers, A.J. Martin, Kent Christian and a few others supported Putnamville in the sprint car division all year. Honestly I expected nothing less of him....the only good thing that all the fans can look forward too is that he has already lost THAT...it is only a matter of time before he gives up on Lincoln Park Speedway and Twin Cities for me I am looking forward to that day.

Robbie Rice

Re: Putucky Payout
 

I don't know , I would not race at that corn field anyway . rear bumpers plowing the turns because of poor preping . Cars looking like a monkey f---nn a football , they need to race tractors their and put a plow on the back . Come on over too paragon , the money is not great but it smooth and their are some fast cars their too , some may disagree , I would not put up with DA sh-t Hope too see ya their

Re: Putucky Payout
 

I look forward to seeing some of the Rutnamville regular drivers and cars at Paragon and the 'Burg on Saturdays. I certainly support your decision to say so long to that place. Some of you were very loyal to that place but its obvious that enough is enough! Good luck in 2008.

Re: Putucky Payout
 

Oh my,who is it that owns Rutnamville, now it is coming back to me, like a very very bad dream.I feel for the drivers/owners as some of them are friends of mine.ANOTHER reason NOT to go there!:thumbsdown::censor:

Re: Putucky Payout
 

Sorry to hear that the drivers and owners have taken the short end of the stick.:thumbsdown: That being said, I am not surprised that old DA would pull a stunt like this.:loser: When, and only when, drivers, owners and fans stay away and hit him where it hurts will things change. My only hope is that at some point in time he will get run out of the business of auto racing. He has about ruined every venue he has touched.

I promised last year after the fiasco at the Action Track that I would NEVER attend another show that he was involved with. I have kept my word and will continue to stay away as long as he has any type of involvement. It's time to show him that we all mean business.:moon:

Re: Putucky Payout
 

Well said we too supported Put. some last year ,but no more.

Re: Putucky Payout
 

Yea we didnt recieve a single penny in my 1099. Was hoping it was a mistake, but i wasnt gonna hold my breath.

Re: Putucky Payout
 

You all should file 1099's and send him for the fuel and tires you purchased- that would insure that uncle sam gets his share of the taxes from him.

Re: Putucky Payout
 

Most racing people (drivers, teams and fans) tend to be the forgiving type. The type that are, to a fault, willing to give someone "one more chance". Over all, that's a good thing and it's one of the things that is makes the sport what it is. With that said, hopefully the situation with this clown has reached it's tipping point and he will have used his last chance.

Jerry

Re: Putucky Payout
 

Time for me to capitalize :P:P

Hey Super Stock and Bomber guys, come on down to Brownstown.

$700 to win weekly for Super Stocks and $500 to win weekly for Bombers

Re: Putucky Payout
 

B-Town needs to pick up a weekly Saturday night Sprint Show or there are going to be 60 cars at both L-Burg and Paragon every week

Re: Putucky Payout
 

JUST SPOKE WITH MR DA HIMSELF...HE SAID THEY ARE ON HIS DESK WAITING TO BE MAILED OUT:rolleyes:

Re: Putucky Payout
 

The soultion to the problem is... Quit going and racing there altogether. The problem is... poor track prep, and no respect for the racers and their opions.
Having said that, I dont think you can get ALL the sprint cars to quit going there. Being a racer, if all the good guys leave, it sounds like an easy $1,000 bucks. I think thats why half the people kept going back, Thats a problem. P-ville in its day was one of the best tracks. Paragon speedway is on the rise.

Re: Putucky Payout
 

Like Lloyd, I too called DA, like a grown up, not someone who gets on here and cries first. I was able to find out that part of the delay was the fact that several drivers gave incorrect Tax info on their sign in sheets. The names didn't match the SS # given. Mr. Puterbaugh was one of them, so you starting this thread is quit comical.
He informed me they were going out the door when I hung up to the post office.

Re: Putucky Payout
 

So apparently you discussed Puterbaugh's situation with Allison. How "grown up" of you. And of course Allison was, as is his reputation, completely honest with you.:doh:

Re: Putucky Payout
 

I am just curious here, but how would D.A. know that anyone's Social Security # didn't match their names???? How do you do that? And why? If someone fills out and signs a 1099, W-2, or whatever, stating the information on it is accurate.. Then why would he have to see if they match??? Again, before some D.A. lover jumps on me, I am just curious.

Re: Putucky Payout
 

i got on here and was :crying: yesterday but wanted to call him and see what was going on...the SS numbers were from last year and wanted to get them figured out

Re: Putucky Payout
 

:headbang:kookoo:O: I change my SS every year too.

Re: Putucky Payout
 

For tax purposes I presume...:rolling

Re: Putucky Payout
 

Well it's like this, I own a business too so I know all on my own. The IRS sends you notification when someones information does not match the SS # you send with it. This happens when people 1. have a car owner and want the money, but tax the owner. 2. Dodge the 1099 all together.

The Puterbaugh "information" was posted on this public forum so I asked DA what the deal was. I'm not the one on here pitching a fit, so yes I would say I am a grown up.

Re: Putucky Payout
 

DA said, in effect, "The checks are in the mail". Given his past, even if they are no one on here would believe it until it came, was deposited, and cleared the bank. You are as entitled to your opinion as anyone else but don't try to tell the people on this board about poor, misunderstood DA. He has left too much of a track record for that to fly.

Re: Putucky Payout
 

That's the biggest problem with this board, or any other for that matter. I tried to pass on information, that I was told, by the person in question, as did Lloyd, and I get attacked. Typical.

Re: Putucky Payout
 

Now that the checks are in the mail, will you please let us know when you receive them.:)

Re: Putucky Payout
 

racers1020; I apologize if my post came across as an attack on you. The reason I replied at all was because it seemed that you were questioning the integrity and maturity of Billy Puterbaugh solely based on believing that Dave Allison told you the truth. Many folks think that's a shaky foundation on which to build.

Re: Putucky Payout
 

Racer1020... in your original post you did not just pass along information... you used sarcasm as a way of showing disrepect to an individual posting a question about his payout.

A real "grown up" knows how to present an argument/disagreement without using sarcasm or showing disrepect.

I just love it when people want to point out some of the problems with this board when they themselves are part of problem.

Re: Putucky Payout
 

Well Bill I guess you are right, I did say it was comical, but the fact still remains, it was partly his fault for the delay, that is what I was getting across. I know you run this board, and don't like DA,and you are protecting your regulars, but what I said about it was fact, and being comical is not disrespect as far I know. If that's the case, more than half of the posts are disrespectful in some way or another.

Re: Putucky Payout
 

Well since i did get my 1099 with everyone else i guess i didnt have the wrong info. Unless he was using a something from when i drove for paul hazen in 2005. And i am pretty sure that i have filled out new info. I was talking about my check. And what i was askin is if anyone else got paid. Considering Walls was the one that asked me at the HARF banquet if i had gotten paid yet. So before you start point a finger at someone remember there are three that are point back at you. And for me to believe they are in the mail i am not going to start counting my chickens.

Re: Putucky Payout
 

I own my sprint car. So there is no confusion there. I got every 1099 from gas city, eastbay fl, little 500.

Re: Putucky Payout
 

So if I am reading this right, D.A. would have sent in the year 2007 1099 information to the I.R.S. before he sent out any point fund $???? Not only that, but they (the I.R.S.) would have already responded by telling him that "several" SS #'s did not match??.. All before the month of February? Is the point fund $ suppossed to go on 2007 or 2008 income?

Re: Putucky Payout
 

I am confused. I hope someone can help me.....wouldnt the point money be for the 2007 season...and if so it should be added to the 1099 I just received....????.........because the winnings I took in match my 1099....so I find it hard to believe that DA would not put that as a write off....but there is a chance I am wrong. I am the owner, driver and mechanic so I KNOW MY TAX INFORMATION WAS CORRECT.....To clear up a few other things...since I spent my time and money at LPS last year and witnessed first hand how things went down...and after being told my check would be WITH my 1099 I feel I reserve the right (as a man not hiding behind a screen name) to cry, whine, swear, and speak my mind about the facts I witnessed and was told. I have never said I would never race at LPS again. I just wish like many others that it was ran and the racers and fans were respected like they are everywhere else in the state.(Gas City-Bloomington-Lawrenceburg-Paragon-Kokomo) Thats not asking to much....

Robbie Rice

Re: Putucky Payout
 

I can only hope that he looses all the respect of everyone and they all decide to dump him and go else where until he is gone forever. I myself would love to see a great sprint program come open at both tracks again. I sure miss North Vernon racing. My fingers are crossed/ how about you all!

Re: Putucky Payout
 

Its actually a 1099MISC form and it was due Jan. 31. Any that are reported to the IRS for being postmarked after Jan 31 are subject to fines and penalties. "They" being the IRS dont like this, subject is not an important word here.

Re: Putucky Payout
 

The way I understand what you said, the 1099 you have already received includes the weekly purses collected and NOT what is owed to you from the points payout.





From the US Tax Code
http://fourmilab.ch/ustax/www/t26-A-1-E-II-B-451.html

Sec. 451. General rule for taxable year of inclusion
TITLE 26, Subtitle A, CHAPTER 1, Subchapter E, PART II, Subpart B, Sec. 451.
STATUTE
(a) General rule
The amount of any item of gross income shall be included in the gross income for the taxable year in which received by the taxpayer, unless, under the method of accounting used in computing taxable income, such amount is to be properly accounted for as of a different period.

This is the Cash Method of accounting for revenue and it is one of the 4 methods allowed. See Section (c) http://fourmilab.ch/uscode/26usc/www...-II-A-446.html.

Most individuals use this cash method of accounting. Basically its taxpayers simply report items of income in the year in which they are received, not earned.

Example: Person X mails you a check December 26th 2007 for services performed but you do not receive the check until January 2008. The income is recognized in 2008 under the cash method.

-So if you do receive point fund money in 2008, even if it was earned in 2007, it will be included in 2008 income.


***Now if your race team is accounted for as a business things may be different as there are many more variables and different accounting methods are more likely to be used. I'm not a CPA, or atleast not yet. Plus I hate studying taxes. LOL

Re: Putucky Payout
 

That is a very good point as far as tax law goes but.....

I believe the drivers gripe revolves around getting stiffed, up to this point, of their year end money and not the tax implications.

I know for a fact that one car owner/driver is still waiting on their points check from a couple seasons ago at LPS....maybe its still on his desk

Re: Putucky Payout
 

Wow...Now I am confused....LOL.....all I know is the weekly purses I won added up to my 1099. So who knows...I will wait and see if I get anything in the mail within the next week....Thanks

Robbie Rice