tlala2
Freshmen Member
Posts: 21
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Post by tlala2 on Feb 4, 2011 13:20:42 GMT -6
do you use in your program per year?
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Post by blackknight on Feb 4, 2011 14:51:47 GMT -6
I don't keep track. I would be a horrible businessman or accountant!
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Post by davishfc on Feb 4, 2011 16:17:47 GMT -6
I don't keep track. I would be a horrible businessman or accountant! I'm right there with you Coach. |
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Post by jlenwood on Feb 4, 2011 16:18:30 GMT -6
keep track fellas....it is a tax deduction.
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Post by jpdaley25 on Feb 4, 2011 16:26:44 GMT -6
It's not tax deductable if you have to pay your assistants out of your own pocket. I had to do that my first three years and I tried every way in the world to convince H&R Block the first year, Jackson Hewitt the second year, and a private CPA the third year to let me: They all said I couldn't.
I spend quite a bit.
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Post by jgordon1 on Feb 4, 2011 17:42:10 GMT -6
I am pretty sure after all is said and done..I make the same as an assistant
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Post by coachjd on Feb 4, 2011 18:00:06 GMT -6
I keep a receipt on everything I buy for football. Any meal I eat on a football trip, clinic weekend, off to visit other coaches etc... I keep the receipt. When I drive anywhere for football, clinics, 7 on 7's, meet with other coaches, I write down the mileage.
The first year we had our current tax prep person they thought I was crazy for all the stuff I did. I just tell her its part of the job.
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Post by davishfc on Feb 4, 2011 18:41:45 GMT -6
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Post by jlenwood on Feb 4, 2011 21:44:47 GMT -6
jp, if you paid our assistants out of our pocket....how much did you pay them? If it was over $600, you could probably send them a 1099 and it would be considered a sub-contractor expense. That way you don't have to pay income tax on that money. Something to check on. If you buy coaching videos, shoes, whistles..whatever, you an deduct that.
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Post by airtrafficcontrol on Feb 4, 2011 22:41:08 GMT -6
Trips to the USA for afca,spring training,to the Uk for clinics,buying a kicking tee here and a red jersey there...
About 10k a year these days.
Oh and I don't get a cent for coaching.
Love it,bu that just depressed me!
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Post by bleefb on Feb 5, 2011 9:04:32 GMT -6
I don't want to know, especially counting the last 30 years combined.
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Post by Yash on Feb 5, 2011 9:38:26 GMT -6
Can't take it with you to the grave so you might as well spend it on something you love doing.
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Post by airman on Feb 5, 2011 14:01:32 GMT -6
I am a private businessman and a coach. i am financially very good so I take the 1800 dollars I get as a varsity assistant and take the guys to a clinic or college visit. I am blessed to so I give back. for example I bought 25 footballs for the varsity last year.
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mce86
Junior Member
Posts: 281
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Post by mce86 on Feb 7, 2011 15:06:48 GMT -6
It's not tax deductable if you have to pay your assistants out of your own pocket. I had to do that my first three years and I tried every way in the world to convince H&R Block the first year, Jackson Hewitt the second year, and a private CPA the third year to let me: They all said I couldn't. I spend quite a bit. Buy equipment out of pocket, use re-imbursements to pay assistants...couldnt that solve your problem? Im just curious because I might have to do the same thing.. |
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Post by dhooper on Feb 8, 2011 12:04:12 GMT -6
Just the banquet I shelled out 850$. Camps, shirts and shorts for players who don't have money and food got to be 1500 plus a year.
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Deleted
Deleted Member
Posts: 0
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Post by Deleted on Feb 8, 2011 14:21:12 GMT -6
Just the banquet I shelled out 850$. Camps, shirts and shorts for players who don't have money and food got to be 1500 plus a year. Were you able to deduct any of this or was it just out of pocket? |
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Post by dhooper on Feb 9, 2011 11:58:01 GMT -6
Out of my pocket but I will ask my accountant if its possible.. It takes a true coaches wife to allow me to spend that kind of money I'm lucky in that department.
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Post by CoachCP on Feb 9, 2011 13:02:00 GMT -6
Out of my pocket but I will ask my accountant if its possible.. It takes a true coaches wife to allow me to spend that kind of money I'm lucky in that department. I love my fiance, and she is a money guru. When we first started dating, I told her about the time commitment, and she said okay,blah blah. During my first year as a paid varsity assistant/jv head coach, she came to realize I made less then minimum wage coaching for all the time I put in. She's good with that now (considering I'm not paid) but it took her a bit. I know I couldn't get away with dropping 10K on the kids until I triple my non-teacher's salary though. We're already planning a "football" expenditures folder for marriage, so we can get the tax deductions. She's on the ball with this stuff. |
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Post by coachcb on Feb 9, 2011 13:16:49 GMT -6
I'm extremely tight with my money and the program. I coach at a private school, the money is always there, I just have to find different ways to get my hands on it. If I can convince someone we absolutely need something, the school is loaded. If not, I will hear all about how poor we are.
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Post by dhooper on Feb 10, 2011 8:45:06 GMT -6
chibears3454, If you made close to minimum wage you did good. ha ha All in all its amazing that us coaches don't make much money and pray that we get to work extra weeks for free how many jobs out there that this is the case.
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Post by TMGPG on Feb 10, 2011 10:57:17 GMT -6
I would say that I am any where between $800 and $1500 per year. Maybe more but I guess I haven't been counting the mileage and so forth. May a lot more. But money well spent.
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Post by CoachCP on Feb 10, 2011 11:42:51 GMT -6
chibears3454, If you made close to minimum wage you did good. ha ha All in all its amazing that us coaches don't make much money and pray that we get to work extra weeks for free how many jobs out there that this is the case. Trust me, I didn't make anywhere near minimum wage. And when I say minimum wage, I mean... 5.50 an hour... not the 10 dollar stuff we see now. I think she calculated it at about 3.50 an hour or something like that at that point. She said ... "Why do you go to those coaches meetings, you get like 3 bucks an hour!" Simple, because I love it (well not those coaches meetings... those were indeed awful compared to the ones I go to now). |
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lyons
Sophomore Member
Posts: 164
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Post by lyons on Feb 10, 2011 12:58:48 GMT -6
Anywhere from $500 and up. we buy kids food, shirts, etc. the same everyone else does.
I have a great staff that is willing to help when they can. Like someone else said, just part of the job. But is guys like you, that is willing to sacrafice to make sure our kids are provided for and cared for.
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Post by John Knight on Feb 11, 2011 7:13:44 GMT -6
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Post by dhooper on Feb 11, 2011 9:14:27 GMT -6
johnknight
Great point. I don't have to worry about that here because of title 9 we get no money and I mean no money. I was also told by my bosses that next season I'm not allowed to spend my own money on the team because of title 9. I'm really worried. My checking account will have more in it but my players needs won't be met. The system thats is to help the kids doesn't.
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Post by ftbll7801 on Feb 12, 2011 2:20:26 GMT -6
I have studied title 9, and I do not think that this is a violation. I mean there is not an unfair advantage..their coaches are just as welcome to spend their own money on them as well. Might be that they just dont want to be questioned on reimbursement?!
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Post by John Knight on Feb 12, 2011 5:26:53 GMT -6
Our head coach as well as all head coaches at Waverly got a letter from the Supt say that no volunteer assistants could be paid, even out of the head coach's pocket. I mean what kind of crap is that? They were told that they would be fired for insubordination if it was discovered they had ignored this directive.
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Post by 19delta on Feb 13, 2011 16:48:38 GMT -6
I don't think about it. Thing is...football is "what I do"... I used to be kind of embarrassed when I would go to a job interview and when I was asked, "What are your hobbies?" I always felt bad about not really having any...usually made up some BS about fishing or something else. I finally came to realize that my hobby IS football...talking about it with others....examining different offenses and defenses...finding more efficient ways to communicate information to kids...trying to design the most efficient and practical practices...being as efficient as possible in gameplanning...etc...etc. So...once I made my peace with that realization, I realized I didn't care how much money I spent on my "hobby"...  |
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newhc
Sophomore Member
Posts: 209
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Post by newhc on Feb 13, 2011 18:35:50 GMT -6
I am with you guys. I would say easily between $700 to $1200. Some years more, and some years less. I really don't keep an caccount of it, but I am glad someone mentioned the taxes. When filing the taxes, where would you itemize it, under job expenses?
I guess alot of the time, I just look at as filling a need. If a kid needs a ride to visit a college, and the parents ask, I have no problem with taking him.
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Post by onebackcoach on Feb 13, 2011 19:05:58 GMT -6
I posted this on another topic but if everyone is talking about saving money. Check this out! Our basketball coach told us about this site. www.thefileshack.com Yep, it is a totally free storage site. Appears to be for large files like what we need as coaches - it is totally the real deal. From the games I sent up to the web, it was much much faster than Hudl and is free. The real neat thing about this is you can have the entire conference use one site. Also, you can either allow all files or some files by attaching a password. Three schools in our conference played around with it this past week and it worked well. They claim, even if the Internet hiccups when it comes back on, the files continue. Saving $500.00 here and there adds up. Well anyways, I though I would pass this along. When good things come about, it should be shared. ©2005, CoachHuey.com, All Rights Reserved. Read more: coachhuey.com/index.cgi?board=general&action=display&thread=44735#ixzz1DtI6tsp5 |
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