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msar-riders - Re: [MSAR] tax deductions

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Subject: Mounted search and rescue

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  • From: "Thor Burfine" <thor@kelbysoft.net>
  • To: "'Mounted search and rescue'" <msar-riders@lists.ibiblio.org>
  • Subject: Re: [MSAR] tax deductions
  • Date: Thu, 27 Jan 2011 14:30:48 -0600

I deduct my expenses.

 

Let me elaborate.

 

Any and all hard costs – receipts for a search.

Max deduction of mileage for the truck – log book

50% deduction of mileage for the 36ft stock trailer

30% deduction of mileage for the 2 horse trailer

20% deduction of mileage for the ATV trailer

I take a $25 per day deduction for each ATV I use plus fuel costs for the ATV’s

I take a $75 per day deduction for the boat plus fuel costs

I take my total cost of feed for the year divide by 365 times number of days searching

                That amount is my feed deduction

I take $3 per day deduction on my tack

I deduct my search clothes (uniform)

I deduct cleaning my uniform (laundry mat machine costs) for each day on a search

My cell phone is a nightmare as I own my own company and it pays the bill so the company deducts

                All the calls made while on a search

                                Total cost of the phone for the year divided by

total number of minutes used for the year gives me cost per minute

Multiply the cost per minute times the number of minutes used during the search

                (usually about $16 for me so I don’t do it)

I replace my first-aid kits annually even if they have not been opened so they get deducted

Deep water recovery gear (265 foot depth) – Not had to use it but deduct the cost of keeping it ready to go.

Any cost of repairs to equipment while on a search (Flat tires and such)

Also any Vet/farrier bills directly related to a search

 

As for vet and farrier bills

Take your total vet bills divide by 365 and multiply by the number of days searching and training

That will give you the amount that can be proportioned to SAR

 

All of this survived the last IRS Audit I went through.

The key is to document everything in a log book.

I was told by the auditor that there is no need for a receipt if any given expense is less than $50

As long as you have it written down in a log book with the date of the expense, what it was for and the amount.

 

My log book has 4 columns

Date      What     Amount               Case Number

 

 

 

From: msar-riders-bounces@lists.ibiblio.org [mailto:msar-riders-bounces@lists.ibiblio.org] On Behalf Of Cindi Rothrock
Sent: Thursday, January 27, 2011 1:51 PM
To: msar-riders@lists.ibiblio.org
Subject: [MSAR] tax deductions

 

  Is there a form for deducting expenses for your search & rescue horse? What do most of you deduct........feed, farrier, vet, equipment, training expense?

  Any information is appreciated! Tks

 




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