[Sydneyfonzi]

golf becomes a business expense and potential tax write-off

is this legal and if so, how does it work?

[F1grandprix]

Not much on equipment or golf in the past year. However, my cigar recipts are a jaw dropper, so much so that I've stopped looking at them. Good thing there is no Mrs. in my life

[en-druzhba]

is this legal and if so, how does it work?

Eh, well, it was a joke I always fantasize with the idea of being able to write it off as a business expense, but I have no idea if it's legal, nor have I done research into it! It provides a semi-viable alibi for the misus.. until now atleast... thanks THP

[Alkassyinhisk]

I once did the calculation. I didn't like the answer so I don't do the calculation anymore.

But rogue, I don't consider your golf spending to be even close to out of control. $90 per round times 50 for me and 25 for my wife. Add in travel costs and equipment purchases and we normally spend close to $10K per year golf related.

[bitymnmictada]

is this legal and if so, how does it work?

Trust me, it won't work. There are a zillion cases on hobby losses. Basically, folks trying to write off everything from race horses to boats. If you don't manage to turn a profit in two out of every five years, then you have to be able to document that it is pretty much a full time business.

Bottom line: you'd lose.

[laperuzdfhami]

I should clairfy, the "bill" DOES include rounds of golf. I play LEAST 27 holes a week, and two visits to the range.

Green fees should be kept seperate....A real man would spend 3 grand on clubs alone.

[Avaindimik]

Green fees should be kept seperate....A real man would spend 3 grand on clubs alone.

No real man here then.LOL

[en-druzhba]

Trust me, it won't work. There are a zillion cases on hobby losses. Basically, folks trying to write off everything from race horses to boats. If you don't manage to turn a profit in two out of every five years, then you have to be able to document that it is pretty much a full time business.

Bottom line: you'd lose.

If you are able to turn a profit does it change things?

Like, lets say you are paid to write course reviews but you have to pay for the courses that you're reviewing.. Do the rounds then become a business expense? Along those same lines, the equipment you purchase to carry out the review, IE: golf clubs, balls, shoes, gloves, camera, etc.. you need these things to "run" your business, so do they then become business expenses able to be deducted from taxes?

[bitymnmictada]

If you are able to turn a profit does it change things?

Like, lets say you are paid to write course reviews but you have to pay for the courses that you're reviewing.. Do the rounds then become a business expense? Along those same lines, the equipment you purchase to carry out the review, IE: golf clubs, balls, shoes, gloves, camera, etc.. you need these things to "run" your business, so do they then become business expenses able to be deducted from taxes?

If you can turn a profit two out of five years, you are presumably in business--the feds have to prove you're not.

If it is a business, greens fees are deductible, though if you host someone else, there are limits on entertainment deductions. Balls, tees, and stuff you run through is deductible (if purchased for your business). Equipment, because it lasts more than a year, is a capital expenditure but can be depreciated. However, small businesses can also deduct significant capital expenses each year.

If you really care: http://www.irs.gov/irs/article/0,,id=186056,00.html