Welcome guest, is this your first visit? Click the "Create Account" button now to join.

To disable ads, please log-in.

Shop at TeamEstrogen.com for women's cycling apparel.

Results 1 to 2 of 2

Thread: Tax Deductions?

  1. #1
    Join Date
    Aug 2006
    Location
    Katy TX
    Posts
    66

    Tax Deductions?

    To disable ads, please log-in.

    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!

  2. #2
    Join Date
    Jun 2002
    Location
    Mrs. KnottedYet
    Posts
    8,982
    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.
    Custom Road bike ~ Mondonico Futura Legero
    Found on the road ~ Motobecane Mixte
    N+1 new bike ~ Salsa Vaya
    Commuter ~ Soma Buena Vista Mixte

    http://madeinusareviews.blogspot.com/

 

 

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •