Tax write offs

[Mark T. DeNucci, Sr.]

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.

W&S:

I got free motel rooms. It isn't about making good business sense. Sports officiating is a profession masquerading as a avocation. Besides, one does not officiate in these national tournaments to make money per se. It is an honor to officiate in these tournaments. One meets officials from all over the country and has the opportunity to make life long friends.

But one other point I would like to make. I have done examinations of my expenses in past years. My exact pro-rated automobile expenses never come close to the mileage deduction. When comparing my after actual expense income compared to my mileage expense calculated income, yes I make a profit every year, but the because the mileage deduction is so much greater than my actual expenses it is crazy for me not to take the mileage decuction. The mileage deduction creates a paper loss that does not reflect my actual profit/loss for the year. IRS rules are such that I can take the deduction that gives me the largest deduction under the rules not the smallest deduction.

I think that it is a great country that allows me to have a taxable loss, while making an actual profit after my acutal expenses are deducted. If it is good enough for a large corporation it is good for a mench like me and my fellow officials.

MTD, Sr.

[kgeorge0263]

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.