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Post by coachbdud on Mar 6, 2011 14:14:58 GMT -6
I saw some guys talking about tax write offs on another forum, so I wanted to bring it up here.
What coaching/teaching purchases can and do you guys write off each year for taxes?
Guys told me clinics, and that makes sense
but some guys also said they keep receipts on all the "athletic" clothes they buy, and write them off as coaching expenses, and all business attire as teaching expenses. I buy a lot of clothes, so if this is true, I will start saving every receipt and write off all of my clothes/shoes cost as coaching/teaching expenses since that is my profession
Anyone do anything like this?
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Post by airraider on Mar 6, 2011 15:31:52 GMT -6
I saw some guys talking about tax write offs on another forum, so I wanted to bring it up here. What coaching/teaching purchases can and do you guys write off each year for taxes? Guys told me clinics, and that makes sense but some guys also said they keep receipts on all the "athletic" clothes they buy, and write them off as coaching expenses, and all business attire as teaching expenses. I buy a lot of clothes, so if this is true, I will start saving every receipt and write off all of my clothes/shoes cost as coaching/teaching expenses since that is my profession Anyone do anything like this? I think I read on here before that coaching can actually count as a second job, and just about anything can be written off... If you take a kid home from practice.. write off.. If you drive a 7 on 7 tournament.. write off..
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Post by phantom on Mar 6, 2011 16:09:42 GMT -6
I saw some guys talking about tax write offs on another forum, so I wanted to bring it up here. What coaching/teaching purchases can and do you guys write off each year for taxes? Guys told me clinics, and that makes sense but some guys also said they keep receipts on all the "athletic" clothes they buy, and write them off as coaching expenses, and all business attire as teaching expenses. I buy a lot of clothes, so if this is true, I will start saving every receipt and write off all of my clothes/shoes cost as coaching/teaching expenses since that is my profession Anyone do anything like this? I think I read on here before that coaching can actually count as a second job, and just about anything can be written off... If you take a kid home from practice.. write off.. If you drive a 7 on 7 tournament.. write off.. If you teach and coach in different schools (or aren't a teacher) don't forget travel expenses between your jobs.
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Post by coachbdud on Mar 6, 2011 17:33:36 GMT -6
I think I read on here before that coaching can actually count as a second job, and just about anything can be written off... If you take a kid home from practice.. write off.. If you drive a 7 on 7 tournament.. write off.. If you teach and coach in different schools (or aren't a teacher) don't forget travel expenses between your jobs. I sub a couple days a week right now, so I am not on campus anywhere full time or in any sort of set schedule, but I coach about 15 miles from where I live at, I can write that off?
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Post by major22 on Mar 6, 2011 17:46:52 GMT -6
you cannot write off driving to practice at your home field. I do however write off the mileage to scout, clinics, books, dvds and any subscriptions that are football related.
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Post by coachwoodall on Mar 6, 2011 18:05:31 GMT -6
Somebody on here is cpa and this came up last tax season. B basically you can write off anything you buy above and beyond t the call of duty.
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Post by jgordon1 on Mar 6, 2011 20:43:23 GMT -6
Driving to your second job is a write off..your coaching clothes you can not write off as you can wear them going out...I would be careful writing off clinics as unreimbursed job related expenses....you can, however write off up $250 of teaching expenses if you are a teacher...dropping a kid off is scetchy at best..also if you do decide to take these expenses they all must be documented on a daily basis..you just can't say I went to my second job 58 times and it was 11 miles each time at 50.5 cents a mile....don't really know if its worth it to draw that much attention....while your at it..your second home office...
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Post by jlenwood on Mar 7, 2011 7:53:02 GMT -6
If you are doing your own taxes, you are a fool in this day and age (IMO). My wife is an accountant and the tax codes are impossible for them to keep up with, so I know that there is no way a dope like me could keep up with them!
When she gets home tonight (about 10pm), I am going to get a list of deductable expenses from her and list them.
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Post by highball007 on Mar 7, 2011 8:27:51 GMT -6
You can write off up to 250 dollars of classroom related materials. Coaching is a second job for most of us. You really have to know your way around Turbo Tax or have someone do it for you, but all clinic material, 7 on 7, camps, meals, dvd's, anything you buy that the school did not reimburse you for is a tax write off.
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Post by jlenwood on Mar 7, 2011 21:12:22 GMT -6
You can itemize your deductions as long as they equal 2% of your gross income. Example,$40k income, you can begin deducting when you have $800 worth of deductions. That is why it is so important to keep precise records of all of your expenses. Some of what you can deduct: *Clinics and all related expenses (hotel, mileage, food) *You can't deduct mileage to your school or where you coach, that is assumed to be part of your pay. But you can deduct mileage on anything over and above normal driving (video exchange,scouting) *Magazines, books, dvds *You can't deduct clothing, as this is something you can wear anytime. You may be able to deduct cleats if you wear them for practice. *Any equipment out of your pocket Again, just a small list but check with an accountant.
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Post by pvogel on Mar 7, 2011 21:24:11 GMT -6
does my parking ticket in san jose or my speeding ticket on my way to Cal Poly last year count as a clinic cost? haha
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Post by John Knight on Mar 8, 2011 7:43:56 GMT -6
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