Quote:
Originally Posted by lawump
Yes, I report EVERY dollar I make every year. I keep a log listing every game I contract to work, whether I actually worked the game and how much I was paid. Likewise, I also keep track of my expenses (read: receipts).
|
I do the same. I report all my game fees (including those paid in cash). I keep records for mileage (mileage is a tricky deduction), out of pocket expenses, and receipts for uniforms, equipment, supplies, dues (including NASO and ABUA), clinic fees, and dry cleaning and alteration expenses. I depreciate the cost of equipment over several years (depending on the equipment) and deduct the rest (as much as I believe I legally can) as business expenses. If I'm ever audited, I believe good records will go a long way in showing the auditor that I made a good faith effort to completely report my income and expenses. To me, it's not worth screwing around with the IRS over the relatively little money I make umpiring.
As I tell my son, integrity is what you do when no one is looking.