Most of the time, unless you are a "comma check" official, you can offset all income with expenses. I tried to include the income one year with my regular income and then take the expenses as deductions and would have had to pay over $800 in taxes. and that was on less than 10k in officiating income. Not a pretty picture.
But if the officials are not reporting income (ie getting cash or other), then they do run the risk of being audited and busted hard.
|