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Author Topic: Writing off bowling on taxes  (Read 1308 times)

mbrown205

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Writing off bowling on taxes
« on: January 09, 2011, 04:05:43 AM »
I bowl in tournaments regularly and was wondering how to transform it from a "hobby" to a business so to speak. I've searched online and came up with nothing. Anyone have useful info? Thanks

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Juggernaut

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Re: Writing off bowling on taxes
« Reply #1 on: January 09, 2011, 12:10:46 PM »
 Not sure, but you probably have to be a PBA member to be able to write off the expenses.


Good transactions list in my profile

 

 
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Hoselrockets

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Re: Writing off bowling on taxes
« Reply #2 on: January 09, 2011, 01:14:58 PM »
You don't have to be a PBA member to write off exspenses against your winnings.  I keep a very detailed list of all my bowling exspenses.  Also keep all the receipts just incase of an audit.  I have an accountant that is very familiar with making this balance out.


THB
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Pinbuster

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Re: Writing off bowling on taxes
« Reply #3 on: January 09, 2011, 03:39:00 PM »
You can, but in general you have to show a profit ( 3 out of 5 years I believe) or they will think of it as a hobby.


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