Taking a Loss on Taxes
I just had a friend do my taxes (Turbo Tax)...and after claiming my income from officiating and deducting mileage, camp fees, association fees, etc...I came up with a loss of over $2,000. So my spreadsheet of revenue and expenses came in handy.
Like someone said...doesn't make much sense to officiate at a loss, but my 2 hour drives for Division II and III games really aren't about making money, but to get the experience to one day maybe do Division I or better. I know just camps alone, I lose about $1,200 in mileage, camp fees, food/drink, etc.
But it's all about the enjoyment of reffing, and one day if there is an opportunity for the big time checks, then financially it will make sense.
-KG
Good luck to those that are claiming or not claiming their officiating income.
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