Tax Deductions?

[midgetcycler]

I was chitchatting with a woman I just met the other night at a bike mechanic class and she said she sent all of her tax paperwork to an accountant every year. She rides in many charity cycling events. He told her that everything she spent in preparation for the event was deductible -- even the cost of her bike -- because they were all necessary for participation in the event. Have any of you heard this or is this guy full of it?? That would be awesome to be able to deduct everything, but not at the cost of being red-flagged! :eek:

[Trek420]

someone chime in and correct me if I'm wrong, I'm not a tax accountant or any kind of accountant .... if you crew and or volunteer that can be deducted, things like mileage to and from. I led training rides last year, deducted my mileage to and from. Not the bike, not equipment, socks and such.

Your registration may be decuctable to the extent by law.