I know absolutely nothing about tax law. Whats the requirements for something to be a "hobby" ?Curious EMT";p="55159 said:Your Hobby is tax deductible. What is your Hobby?
I was able to claim just under 11,500$ for one of mine, and i have erery recipt.
I did my taxes through completetax.com, as i have for the last 3 years. I was "startled" by that question, so after a few phone calls, got in touch with my buddy's wife who works for H&R and she confirmed it. Check with your CPA!
A few years ago I was in a similar situation, but it was because I was single, and the standard deduction was greater than what I spent on uniforms/gear/etc.sgtmvm";p="55489 said:FWIW in 03 I saved every last receipt, down to dry cleaning and uniform boot polish, and when the time came to submit it to my CPA, she said almost all of it was fruitless...I am a MA resident if that matters...
I think some folks are confusing the meal deduction with the cafeteria plan.37-99";p="55547 said:http://money.cnn.com/2004/01/29/pf/taxes/deduction_myths/index.htm
The meal deduction is a myth. It started w/ 2 state troopers in the midwest who had to eat at a certain location at a certain time. They fought for the deduction and won. If you look hard enough you can find the story on the internet.
But for the rest of us it's not a deduction. If your accountant says it is let me know the tax code so I can use it too. I'll be shocked if I get a reply. :shock: