CSEMARTIN Posted May 4, 2008 Share Posted May 4, 2008 Since I am self-employed, can I sponsor myself, call it "advertising" and claim my expenses as a tax deduction? Link to comment Share on other sites More sharing options...
chuckbradley Posted May 4, 2008 Share Posted May 4, 2008 You really need to ask a Tax Pro who is up to date on the rules but I would say yes. As long as you have an advertisement on your shirt and can justify that there is some chance of getting business from the advertisement. Link to comment Share on other sites More sharing options...
mdstihl Posted May 4, 2008 Share Posted May 4, 2008 And everyone knows, the IRS is very pro-gun. Link to comment Share on other sites More sharing options...
Duane Thomas Posted May 4, 2008 Share Posted May 4, 2008 Christopher, I am in awe of your ability to think outside the box. I'm not worthy! Link to comment Share on other sites More sharing options...
ima45dv8 Posted May 4, 2008 Share Posted May 4, 2008 A man I knew used to do that with his NHRA hobby. Link to comment Share on other sites More sharing options...
nashvillebill Posted May 4, 2008 Share Posted May 4, 2008 I wonder if you might have to make an argument to an auditor that your buisness would be of interest to the targeted (ha) audience. I restore musical instruments, but I don't think I can claim with a straight face that I believe there's enough potetial customers at a match to justify all expenses as advertising. But if it turns out we can, I'm gonna be able to claim a loss for years! Link to comment Share on other sites More sharing options...
chuckbradley Posted May 4, 2008 Share Posted May 4, 2008 I wonder if you might have to make an argument to an auditor that your buisness would be of interest to the targeted (ha) audience. I restore musical instruments, but I don't think I can claim with a straight face that I believe there's enough potetial customers at a match to justify all expenses as advertising. But if it turns out we can, I'm gonna be able to claim a loss for years! Again, talk to a tax professional. Its beens many years since I graduated from college. There are plenty of advertisements that cost more than one hopes to return from it. I dont think they can micro manage every business decision, disallowing the deductions for the bad ones. Now if you are licensed to practice law in one state and write off expenses to a match in a state you are not licensed they might have an argument against the deduction but if there was one shooter there from your state I believe that would qualify it as a legitimate deduction. Who knows there may be some new case law that deals with this situation and disallows it. One factor may be if the business actually makes a profit. The guideline they use is that it makes a profit in 3 out of 5 years. Or something like that. Its been 20 years since I took tax classes. Link to comment Share on other sites More sharing options...
CSEMARTIN Posted May 4, 2008 Author Share Posted May 4, 2008 (edited) nashvillebille, I could always notify the match director ahead of time and offer my services as a trained trauma surgeon for a nominal fee of maybe a dollar. I could argue that is more profit than I make from the medicaid population. I've already had a discussion with our legal people. My malpractice covers me anywhere in the US. I realize I can't practice medicine outside of the state I'm licensed in, but an emergency is a different situation. Most, if not all, states have good samaritan laws. As long as I'm not doing something outside my realm of expertise, I'm covered. I will be talking to my tax guy. He's a pretty clever little SOB. If it can be done legally, I'm going to do it. ETA: I see an amended 2007 return in the very near future. Edited May 4, 2008 by CSEMARTIN Link to comment Share on other sites More sharing options...
Duane Thomas Posted May 4, 2008 Share Posted May 4, 2008 Oh wait a minute, I'm a gunwriter. I already do write off all my gun/competition stuff. Link to comment Share on other sites More sharing options...
Punkin Chunker Posted May 4, 2008 Share Posted May 4, 2008 nashvillebille,I could always notify the match director ahead of time and offer my services as a trained trauma surgeon for a nominal fee of maybe a dollar. . . . I realize I can't practice medicine outside of the state I'm licensed in, but an emergency is a different situation. Most, if not all, states have good samaritan laws. As long as I'm not doing something outside my realm of expertise, I'm covered. . . . As with others, I'm no tax lawyer, but Wouldn't accepting pay for your services be practicing? Good Samaritan laws cover responding to an emergency situation, but I'd be skeptical if they cover being available for an emergency situation. Sort of like the difference between aiding an accident victim you find while you are driving down the road (okay), versus hiring on as a trauma care specialist (not okay, unless appropriately licensed). It sounds like a great idea. I was in Grafenwehr, Germany and met a couple of Tennessee school teachers who told me they wrote off all their foreign vacation costs as business expenses, because they took pictures and used them in lectures to their classes. Link to comment Share on other sites More sharing options...
Greg Bell Posted May 4, 2008 Share Posted May 4, 2008 (edited) Chris, I've seen a couple of instances back when we were still in Michigan that your services could have been useful. Once with Bart (I recall he wouldn't let you look at it, stubborn bugger) and another time at Kinney Rd. I don't think you were there that day. Both of those were shredded fingers. I've only been shooting since 01 and have seen a few decent injuries, I think you could justify it. Edited May 4, 2008 by Greg Bell Link to comment Share on other sites More sharing options...
kimel Posted May 4, 2008 Share Posted May 4, 2008 Be careful. Some states, WA for instance, specifically state that if you are being compensated that Good Sam laws don't cover you. I suspect even that dollar "retainer" puts you in that arena. Link to comment Share on other sites More sharing options...
CSEMARTIN Posted May 4, 2008 Author Share Posted May 4, 2008 Chris,I've seen a couple of instances back when we were still in Michigan that your services could have been useful. Hi Greg, I remember that one well. I wasn't at Kinney Rd. for the second accident. I have had Match Directors approach me before the match to ask if it would be ok to call me if anything happens during the match. I always say yes, and I've done it for free. The thing that bothers me the most about what happened with the mangled finger accident is that very few people, if any, learned from it. Every time I see someone cover the ejection port when they unload and show clear, it gives me a sick feeling. You guys brought up some interesting points. I'm going to talk with our attorney and tax people before I do anything. Link to comment Share on other sites More sharing options...
Ron Ankeny Posted May 5, 2008 Share Posted May 5, 2008 Seems to me like a trauma guy "advertising" at a USPSA match is kind of a stretch. Now a proctologist at an IDPA match would be a different story. Link to comment Share on other sites More sharing options...
kimel Posted May 5, 2008 Share Posted May 5, 2008 Ortho docs and USPSA go well together. Seems about 2/3 of the guys I shoot with are closing in on "new knee" time...myself included. Link to comment Share on other sites More sharing options...
nashvillebill Posted May 5, 2008 Share Posted May 5, 2008 OOOOOOOOOOOOOOOOOOOOOOOH, lookout! Link to comment Share on other sites More sharing options...
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