Tue Apr 07, 2009, 01:02pm
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Administrator
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Join Date: Sep 1999
Location: Toledo, Ohio, U.S.A.
Posts: 8,073
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Quote:
Originally Posted by mbyron
That's not really the question. The question is: are you OK with losing your license and never officiating again after you're convicted of felony tax evasion?
I made $8K+ officiating last year, reported all of it, and reported net income of $487 (after expenses). In 2007 I had a $900 loss, which carried over, so I'm paying no tax on my 2008 income.
If I were, the tax on that couldn't be more than $200, no matter what my bracket. If I were college-aged, the tax would probably be $0-$100. Fewer than 4 game fees, big whoop.
The risk/benefit ratio for not paying is very bad, IMO.
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mbyron:
How did you carry over a loss on a Schedule C from one year to the next? That is a new one to me.
MTD, Sr.
__________________
Mark T. DeNucci, Sr.
Trumbull Co. (Warren, Ohio) Bkb. Off. Assn.
Wood Co. (Bowling Green, Ohio) Bkb. Off. Assn.
Ohio Assn. of Basketball Officials
International Assn. of Approved Bkb. Officials
Ohio High School Athletic Association
Toledo, Ohio
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