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Dewey, Cheatem & Howe ...
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Originally Posted by Raymond
I, of course, itemize the assigning fees in my expenses, but not everyone pays attention to such details when filing taxes.
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Quote:
Originally Posted by Camron Rust
The IRS wants to know the gross income and then wants to see your expenses as a reduction from that total. The association fees taken out of the game fees is an expense, not a reduction of gross income. It comes out the same in the end, but the IRS wants the details.
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Every year my accountant uses information that I provide him to complete Form 1040 Schedule C : Profit or Loss From Business. He asks that I provide him with total officiating income, total officiating expenses including dues, fees, uniform, shoes, and equipment, and my total round trip officiating mileage. Not sure what he does with the information provided, he's the accounting expert.
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"For God so loved the world, that he gave his only begotten Son, that whosoever believeth in him should not perish, but have everlasting life." (John 3:16)
“I was in prison and you came to visit me.” (Matthew 25:36)
Last edited by BillyMac; Mon Aug 03, 2020 at 04:12pm.
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