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Originally Posted by Whistles & Stripes
Mr. Denucci, as a CPA and someone who spent half of my professional career preparing taxes, I think I understand the mileage deduction as well as anyone, and the reasons you state for taking the deduction all seem to be legitimate.
While I understand the travel to the meetings is always going to be a cost you have to bear, I can't help but asked if you are given some kind of reimbursement for travelling to those tournies in Florida. It just doesn't seem to make good business sense to me.
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Well, I'm an accountant (but not a CPA) and only travel locally with about 35 reimbursable games/year. I claim all income, cash or otherwise because it's the right thing to do, not because of audit risk or that I love paying taxes. With the travel to and from the games, association meetings and scrimmages along with supply expenses, association dues and state registrations, I end up with about 75% of my revenues being expensed out. I don't see that as unreasonable, especially at .50/mile these days.
If I drive 100 miles for a $55 game, I'm only getting whacked for $5 by the IRS. I use about 3 1/3 gallons and at $3/gallon that's $10 for gas and I'm up $45 before other hidden auto expenses (I drive a high-mileage car so it's not too bad). I consider the .50/mile deduction pretty generous actually.