Tax write offs

[Rizzo21]

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.

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.