tax write off for the MTB sport?

Discussion in 'Mountain Bikes' started by Steve, Feb 12, 2004.

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  1. Steve

    Steve Guest

    Any ideas for a somewhat legit method of writing off equipment costs and not riding professionally?
    I've been buying and selling my MTB parts via Ebay. Possibly a online "used bike parts" dealer
    ..would that qualify ?

    [email protected]
     
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  2. In article <[email protected]>,
    steve <[email protected]> wrote:

    > Any ideas for a somewhat legit method of writing off equipment costs and not riding
    > professionally? I've been buying and selling my MTB parts via Ebay. Possibly a online "used bike
    > parts" dealer ..would that qualify ?
    >
    > [email protected]

    Sponsor yourself. You could be "Team Steve" and incorporate as a business. Your major source of
    income would be sponsor fees from "Steve International", and everything else would be an
    expense. Go nuts!

    Otherwise, yeah, probably the best deal would be to create some vaguely material business out of
    bike part trading.
    --
    Ryan Cousineau, [email protected] http://www.sfu.ca/~rcousine President, Fabrizio Mazzoleni Fan Club
     
  3. Zilla

    Zilla Guest

    Ryan Cousineau wrote:
    > In article <[email protected]>,
    > steve <[email protected]> wrote:
    >
    >> Any ideas for a somewhat legit method of writing off equipment costs and not riding
    >> professionally? I've been buying and selling my MTB parts via Ebay. Possibly a online "used bike
    >> parts" dealer ..would that qualify ?
    >>
    >> [email protected]
    >
    > Sponsor yourself. You could be "Team Steve" and incorporate as a business. Your major source of
    > income would be sponsor fees from "Steve International", and everything else would be an expense.
    > Go nuts!
    >
    > Otherwise, yeah, probably the best deal would be to create some vaguely material business out of
    > bike part trading.

    Just keep all your receipts!

    --
    - Zilla Cary, NC (Remove XSPAM)
     
  4. Tom Purvis

    Tom Purvis Guest

    steve <[email protected]> wrote:
    > Any ideas for a somewhat legit method of writing off equipment costs and not riding
    > professionally?

    Sure. Whatever equipment you give away to charity, that can be written off. Just can't keep it.

    > I've been buying and selling my MTB parts via Ebay. Possibly a online "used bike parts" dealer
    > ..would that qualify ?

    Man, that's hilarious. Are you Jerry Seinfeld or something?
    --
    Tom "try donating $1 million to the Bush campaign" Purvis
    Salida, CO - http://www.arkansasvalley.net/tpurvis/
     
  5. Penny S

    Penny S Guest

    steve retorted :
    > Any ideas for a somewhat legit method of writing off equipment costs and not riding
    > professionally? I've been buying and selling my MTB parts via Ebay. Possibly a online "used bike
    > parts" dealer ..would that qualify ?
    >
    > [email protected]

    wouldn't you be better off talking to an accountant or a business consultant? Things that do come to
    mind are bike guide author, bike patroller ( volunteers can take certain write offs) product
    designer, sales rep....The key word is LEGITIMATE. Or hit the library for some small business books

    you'd really take this kind of advice off the internet?

    ps
     
  6. Mike Cox

    Mike Cox Guest

    "Penny S" <[email protected]> wrote in message
    >
    > you'd really take this kind of advice off the internet?
    >

    </lurk> I have always understood that the Internet, especially newsgroups were a great source of
    unbiased, restrained opinion and fact.

    Mike <lurk
     
  7. Hardwarelust

    Hardwarelust Guest

    "Penny S" <[email protected]> wrote in message
    news:[email protected]...
    > steve retorted :
    > > Any ideas for a somewhat legit method of writing off equipment costs and not riding
    > > professionally? I've been buying and selling my MTB parts via Ebay. Possibly a online "used bike
    > > parts" dealer ..would that qualify ?
    > >
    > > [email protected]
    >
    >
    > wouldn't you be better off talking to an accountant or a business consultant? Things that do come
    > to mind are bike guide author, bike patroller ( volunteers can take certain write offs) product
    > designer,
    sales
    > rep....The key word is LEGITIMATE. Or hit the library for some small business books
    >
    > you'd really take this kind of advice off the internet?
    >

    And from people like us? :)
     
  8. Mattb

    Mattb Guest

    Penny S wrote:
    > steve retorted :
    >> Any ideas for a somewhat legit method of writing off equipment costs and not riding
    >> professionally? I've been buying and selling my MTB parts via Ebay. Possibly a online "used bike
    >> parts" dealer ..would that qualify ?
    >>
    >> [email protected]
    >
    >
    > wouldn't you be better off talking to an accountant or a business consultant? Things that do
    > come to mind are bike guide author, bike patroller ( volunteers can take certain write offs)
    > product designer, sales rep....The key word is LEGITIMATE. Or hit the library for some small
    > business books
    >
    > you'd really take this kind of advice off the internet?
    >
    > ps

    On that note I say yeah, write it all off. Let us know how it goes for you. Might make a good
    story anyway.

    Matt
     
  9. Michael Dart

    Michael Dart Guest

    In news:[email protected],
    Mike Cox <NoSpamT[email protected]> typed:
    > "Penny S" <[email protected]> wrote in message
    >>
    >> you'd really take this kind of advice off the internet?
    >>
    >
    > </lurk> I have always understood that the Internet, especially newsgroups were a great source of
    > unbiased, restrained opinion and fact.
    >
    > Mike <lurk>

    *snick* *snort* *BwahahahahahAHAHAHAAHAHA!!!!!* ...WHEW! Oh man that was funny.

    Mike
     
  10. Mpd Blue

    Mpd Blue Guest

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