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Topic: Huset's
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Page 4 of 4 of 76 replies
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July 19, 2020 at
10:27:18 PM
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Reply to:
Posted By: frenchy on July 19 2020 at 11:08:47 AM
I think the smaller fields were because of a few different factors. First off, I don't think the Rubins really had another source of income so the track had to be self sustaining. I don't think they had the means or the will to increase payouts. Second, the track can be tough on equipment, it's kind of narrow and has concrete walls all around it. It's not very forgiving if you make a mistake. Third, it's all rumors but I have heard that the Rubins pissed off a lot of drivers and owners over the years. Many quit coming to the track. Fourth, they lost the plot on track prep. It used to be that Husets would widen out and have two grooves and racing was awesome. Somewhere along the line they had to run the beer grader after the heat races every race. If they didn't it was just single file, follow the leader.
I don't say any of this to bad mouth the Rubins. I have met Steve a handful of times and he seems like a really nice guy. I think they did their best with the track and they had a really good run for a long time. It was time for a change and it's too bad Chuck got his hands on it. Now that Tod owns it I think it will return to it's glory days. Can't wait to get back out there.
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One of my former drivers, Dean Brown, always described racing at Husets as "It's like trying to race sprint cars on a bridge! No room for error!".
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July 20, 2020 at
04:14:45 PM
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200
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Car count Aug 2nd? Grand Re-Opening.
TIA.
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July 20, 2020 at
04:30:25 PM
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515
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45 to 50 410's and a full house standing room only buy your tickets early Glen Murra
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July 20, 2020 at
04:55:48 PM
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483
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I'll go with 44 410's. 17 street stocks.
And yes the Rubins drove a lot of racers away from the place.
The worst president of my lifetime:
Ronald Reagan
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July 22, 2020 at
04:27:12 PM
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07/22/2020
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Reply to:
Posted By: newbeevur on July 20 2020 at 04:55:48 PM
I'll go with 44 410's. 17 street stocks.
And yes the Rubins drove a lot of racers away from the place.
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Minnehaha county property sales were just published in the Brandon Journal
Selling price was 4.375 million dollars. I think Chuckles got his tax write off!
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July 22, 2020 at
09:37:30 PM
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Reply to:
Posted By: 4BKarting on July 22 2020 at 04:27:12 PM
Minnehaha county property sales were just published in the Brandon Journal
Selling price was 4.375 million dollars. I think Chuckles got his tax write off!
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And who really gives a.....
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July 22, 2020 at
11:06:36 PM
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Reply to:
Posted By: 4BKarting on July 22 2020 at 04:27:12 PM
Minnehaha county property sales were just published in the Brandon Journal
Selling price was 4.375 million dollars. I think Chuckles got his tax write off!
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I don't think you understand tax write-offs.
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July 22, 2020 at
11:27:10 PM
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This message was edited on
July 22, 2020 at
11:28:07 PM by revjimk
Reply to:
Posted By: Murphy on July 22 2020 at 11:06:36 PM
I don't think you understand tax write-offs.
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https://www.youtube.com/watch?v=XEL65gywwHQ
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July 23, 2020 at
09:55:07 AM
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Reply to:
I am not familiar with real estate depreciation , capital gains and recapture of depreciation, but I would think that if you buy a piece of property for 2.5mil, supposedly spend 10+million on improvements, then sell it for 4.4million, you will pay less in taxes.
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July 23, 2020 at
12:32:31 PM
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Reply to:
Posted By: 4BKarting on July 23 2020 at 09:55:07 AM
I am not familiar with real estate depreciation , capital gains and recapture of depreciation, but I would think that if you buy a piece of property for 2.5mil, supposedly spend 10+million on improvements, then sell it for 4.4million, you will pay less in taxes.
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Sorry. I didn't mean to sound snarky. Subconsiouly I think I was replying to the last 100 people who somehow thought chuck was going to make money by selling at a loss due to a "tax write-off".
There are a lot of variables involved, but an example would be something like this: *If* I bought a race track for $2.5 mil, added $10 mil in improvements, then sold it for $4.375 mil, I would have lost $8.125 million. I may be able to *save* the amount of taxes I would pay on $8.125 mil. $8.125 x 36%= $2.925 million *tax write-off*. IN order to get that $2.925 mil, all I have to do is lose $8.125 mil to srart with.
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July 23, 2020 at
12:45:44 PM
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Reply to:
Posted By: Murphy on July 23 2020 at 12:32:31 PM
Sorry. I didn't mean to sound snarky. Subconsiouly I think I was replying to the last 100 people who somehow thought chuck was going to make money by selling at a loss due to a "tax write-off".
There are a lot of variables involved, but an example would be something like this: *If* I bought a race track for $2.5 mil, added $10 mil in improvements, then sold it for $4.375 mil, I would have lost $8.125 million. I may be able to *save* the amount of taxes I would pay on $8.125 mil. $8.125 x 36%= $2.925 million *tax write-off*. IN order to get that $2.925 mil, all I have to do is lose $8.125 mil to srart with.
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I was trying to be funny!
Did you watch the video?
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July 23, 2020 at
01:02:03 PM
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Reply to:
Posted By: Murphy on July 23 2020 at 12:32:31 PM
Sorry. I didn't mean to sound snarky. Subconsiouly I think I was replying to the last 100 people who somehow thought chuck was going to make money by selling at a loss due to a "tax write-off".
There are a lot of variables involved, but an example would be something like this: *If* I bought a race track for $2.5 mil, added $10 mil in improvements, then sold it for $4.375 mil, I would have lost $8.125 million. I may be able to *save* the amount of taxes I would pay on $8.125 mil. $8.125 x 36%= $2.925 million *tax write-off*. IN order to get that $2.925 mil, all I have to do is lose $8.125 mil to srart with.
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I still think husets and Badlands pawn were some sort of money laundering front. Did he really spend 10 million on the track and 30 million on the pawn shop? Perhaps, but I don't think there was that much work done to either facility. So you spend $10 million on the track for work that was worth $5 million. The recepient of the money now has an additional 5 million in clean money that could be used for God knows what. It was weird how construction went on the track, the had like 6 different electricians on the job. The company that installed the bleachers came in to buy stuff from me daily during the install, it was all paid for with a credit card from dollar loan center. Pretty much all of the contractors had free suites at the pawn shop and race track. Then apparently Deuce Stayley or whoever from Kiss was an investor. The whole thing was fishy AF in my opinion.
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July 23, 2020 at
01:58:47 PM
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Reply to:
Posted By: frenchy on July 23 2020 at 01:02:03 PM
I still think husets and Badlands pawn were some sort of money laundering front. Did he really spend 10 million on the track and 30 million on the pawn shop? Perhaps, but I don't think there was that much work done to either facility. So you spend $10 million on the track for work that was worth $5 million. The recepient of the money now has an additional 5 million in clean money that could be used for God knows what. It was weird how construction went on the track, the had like 6 different electricians on the job. The company that installed the bleachers came in to buy stuff from me daily during the install, it was all paid for with a credit card from dollar loan center. Pretty much all of the contractors had free suites at the pawn shop and race track. Then apparently Deuce Stayley or whoever from Kiss was an investor. The whole thing was fishy AF in my opinion.
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I wouldn't put it out of the realm of possibility
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July 23, 2020 at
06:18:25 PM
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Reply to:
Posted By: revjimk on July 23 2020 at 12:45:44 PM
I was trying to be funny!
Did you watch the video?
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Yes I watched the video and it made me laugh. I never watched Seinfeld, but for some reason I was expecting the video to be a CPA explaining tax write-offs or something. Not even close, but right on target.
ps. I get the Rev. Jim reference.
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July 23, 2020 at
08:44:44 PM
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02/27/2008
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702
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Reply to:
Posted By: frenchy on July 23 2020 at 01:02:03 PM
I still think husets and Badlands pawn were some sort of money laundering front. Did he really spend 10 million on the track and 30 million on the pawn shop? Perhaps, but I don't think there was that much work done to either facility. So you spend $10 million on the track for work that was worth $5 million. The recepient of the money now has an additional 5 million in clean money that could be used for God knows what. It was weird how construction went on the track, the had like 6 different electricians on the job. The company that installed the bleachers came in to buy stuff from me daily during the install, it was all paid for with a credit card from dollar loan center. Pretty much all of the contractors had free suites at the pawn shop and race track. Then apparently Deuce Stayley or whoever from Kiss was an investor. The whole thing was fishy AF in my opinion.
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I thought the same thing about the entire deal.
It looked and smelled like a money laundering scheme and I was always hoping that it would catch up with Chuck with the Feds liquidating his assets at auction.
Thankfully that dark chapter of Huset's history is close to being over. Can't wait to see 410's racing there with a promoter that actually cares about sprint car racing.
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July 23, 2020 at
08:47:56 PM
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why are we still talking about chucky cheese? let's let that history die and look towards a very bright future. who do you all think is showing up for the reopening of husets? personally i could see close to 50 410s and about 20 late model street stocks
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July 23, 2020 at
09:01:51 PM
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This message was edited on
July 23, 2020 at
09:20:58 PM by newbeevur
Someone asked about the cost of the track, there were several comments on the subject then someone puts info from the Brandon paper on here and some dork asks who cares. Gotta love people.
Super happy to be going back to that track in a little over a week.
The worst president of my lifetime:
Ronald Reagan
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