Tax Season

[jdmara]

BTW, I was wondering when this topic would surface

-Josh

[bbcof83]

Thanks Josh, that was a very helpful post.

[Mark Padgett]

Originally Posted by jdmara

As someone stated perviously

Freudian slip?

[FBullock]

Originally Posted by bbcof83

OK, thanks for the input guys. So I only have to claim my net income, meaning my revenue minus my expenses? What is the mileage rate given by the IRS? Also, can anyone confirm it's ok to claim camp expenses (fees, hotels, mileage, etc)?

I'm not a CPA (but I did stay at a Holiday Inn Express) but my accountant deducts all those things. There are some special rules on meals and what you can deduct, if you stayed overnight, etc. I keep a log sheet in my planner and transfer it to an Excel spreadsheet and e-mail it to my account. He likes that because he can sort it, etc. and the number total them selves. It also helps that my account was the H on my Div III football crew for about 5 years.

He keeps me out of trouble

[mbyron]

Originally Posted by Mark T. DeNucci, Sr.

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.

Hmm, I might be thinking of local tax, which is freshest in my mind. Never mind that part...

[jdmara]

Originally Posted by Mark Padgett

Freudian slip?

Wow...That was...Good catch

-Josh

[EIA REF]

My tax guy suggested also deducting my cell phone as a business phone. I purchased a GPS devise last year as well for getting to games and put that in as a deduction for expenses.

Lots of officials in the area do not record any income from games for taxes. I would not be to worried about those of us that may do it incorrectly. We can always point the finger to those who don't do it at all.

I have listed my income and expenses for taxes 7 years now. It seems to work.

[Camron Rust]

Originally Posted by EIA REF

My tax guy suggested also deducting my cell phone as a business phone. I purchased a GPS devise last year as well for getting to games and put that in as a deduction for expenses.

Lots of officials in the area do not record any income from games for taxes. I would not be to worried about those of us that may do it incorrectly. We can always point the finger to those who don't do it at all.

I have listed my income and expenses for taxes 7 years now. It seems to work.

You can certainly do that, but the IRS will expect you to be writing a check with the other 9 fingers.

[tballump]

Isn't all this money reportable on federal taxes as part of your total income, and also on the social security schedule F (??)where you have to pay the full 15% social security and medicare part?? Also isn't this reportable on state taxes and local taxes including having to fill out quarterly income tax papers that go with this income since you are essentially an independent contractor for your services?

[Amesman]

I've had some seriously veteran officials who do mostly park district, kid travel games, etc. actually say they'll stop doing games for a certain entity for a while if they're approaching a $600 threshhold for the year (at least I think that was the figure he used).

Seemed to imply one only had to declare if he or she made more than $600 in a given year. Does this sound familiar?

[just another ref]

Originally Posted by Amesman

I've had some seriously veteran officials who do mostly park district, kid travel games, etc. actually say they'll stop doing games for a certain entity for a while if they're approaching a $600 threshhold for the year (at least I think that was the figure he used).

Seemed to imply one only had to declare if he or she made more than $600 in a given year. Does this sound familiar?

You get $600 from one place, they send you a 1099.

[Amesman]

So stay short of $600, no 1099, no declaration, no worries? Something tells me that's assuming too much but what do the men and women (who no doubt would like to preserve as much of their sweated out equity from this business as possible) have to say?

[Raymond]

Originally Posted by Amesman

So stay short of $600, no 1099, no declaration, no worries? Something tells me that's assuming too much but what do the men and women (who no doubt would like to preserve as much of their sweated out equity from this business as possible) have to say?

It's still reportable. I used to work for a Rec assigner who gave you a 1099 if you made $600 working for him. But he always reminded those of us who didn't get one that is was still our responsibility to claim the income.

[mbyron]

Originally Posted by Amesman

So stay short of $600, no 1099, no declaration, no worries? Something tells me that's assuming too much but what do the men and women (who no doubt would like to preserve as much of their sweated out equity from this business as possible) have to say?

Do they cheat on the field, too?

[jdmara]

Ran across an interesting "article" the other day while I was putting together an improved spreadsheet for my taxes (for next year).

http://nuaumpiresusa.org/libitems/NUA_Tax.pdf

I agree with most every deduction on there but the following two: "Meals between games of doubleheaders" and "Meals between work and evening game". Does anyone agree or disagree with these two deductions?

-Josh