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tax write off

 
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blackcloud




Joined: Jul 04, 2005
Posts: 139
Location: las vegas, NV / gapan, nueva ecija

Status: Offline
PostPosted: Wed Jul 20, 2005 4:14 pm  Post subject: tax write off Reply with quote

how many of you actually write off bowling expenses on your taxes? i don´t know how the tax laws work there but over here, you can start writing off after your expenses exceed 2% of your annual salary. however, if you are to do this every year you have to show a profit in at least 1 of the first three years.
expenses that can be written off can include equipment purchases (balls, bags, shoes, etc.) lineage expenses, tournament entry fees, mileage from your home to tournament site, hotel , fuel, food expenses. if you are to do this, keep detailed records, reciepts of what you spend on bowling and bowling related items as well as money earned from tournaments and side events. you will need to ask tax accountant over there if this will work for you or not. and find out if the current tax laws there will allow you to do this.
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blackcloud




Joined: Jul 04, 2005
Posts: 139
Location: las vegas, NV / gapan, nueva ecija

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PostPosted: Thu Jul 28, 2005 9:08 am  Post subject: tax write off Reply with quote

how many of you actually write your bowling expenses off on your taxes?
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Angelo




Joined: Aug 07, 2003
Posts: 303
Location: Quezon City

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PostPosted: Thu Jul 28, 2005 1:49 pm  Post subject: tax write off Reply with quote

not here in phils, maybe as a professional player, maybe in boxing or billiards...


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blackcloud




Joined: Jul 04, 2005
Posts: 139
Location: las vegas, NV / gapan, nueva ecija

Status: Offline
PostPosted: Fri Jul 29, 2005 1:09 pm  Post subject: tax write off Reply with quote

you guys out there compete for money
and you haven´t even tried? have you even tried looking at your tax laws to see if it´s allowed or even ask? amateurs who compete for money here in the states do it all the time.
if you treat your competition like a business it will work.
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