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
|
Archive powered by MHonArc 2.6.24.