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Old 04-08-2010, 11:18 AM   #1
CutTheLoop
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Default Wow...

Some of you may already do this...

Read this article, and replace the term Trap Shooter with Tournament Archer.


http://www.pursuetheoutdoors.com/art...trap-shooting/


"intent to make a profit"

Quote:
* You will need a computer to enter your tax information, so go out and buy one and you can write that off this year. You do not need to depreciate it…just write off the $3,000 you spend now. But you should be aware that the computer must be used for business. If the kids have games installed on it the deduction will not survive an audit. You may only be able to then write off 1/3 or �; of it.
* You need Quicken or Quickbooks accounting programs so you write that off too.
* Need a new competition-grade shotgun? Go buy it and write it off!
* Do you need a new shooting vest, ear phone protectors, shooting shoes, shirt, hat, pants? Write it off.
* What else do you feel you need that is customary and required of most trapshooters? Deduct it.
* Club dues, shells, components, practice fees, fuel and meals are all deductible.
* Need to attend a competition shoot out of town? Write-off the trip’s expenses.
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Last edited by CutTheLoop; 04-08-2010 at 11:29 AM.
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Old 04-08-2010, 12:02 PM   #2
Okbowman
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That's interesting. I'm sure there are some savvy archers that do indeed write off their expenses. Couldn't name one but I'd bet there are some.
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Old 04-08-2010, 05:47 PM   #3
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Sounds like a damn good way to get audited by the IRS.
What did Roosevelt say..."nothing to fear but fear itself...and the IRS."
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Old 04-08-2010, 07:58 PM   #4
foamkiller
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In 2008 I won enough money in ASA that I had to report it. When I gave my expense report to my accountant he did not want to take every thing as a deduction. He said I would run the risk of an audit if I claimed more than gas, airfare, motel and entry fees.
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Old 04-08-2010, 08:02 PM   #5
CutTheLoop
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So long as you're on the up & up and have nothing to hide... why fear an audit?
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Old 04-09-2010, 04:44 AM   #6
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Quote:
Originally Posted by CutTheLoop View Post
So long as you're on the up & up and have nothing to hide... why fear an audit?
The IRS doesn't work that way. You're guilty until proven innocent in an audit.
Just a little friendly advice...
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