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Re: Chamber Day obmination





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Posted by Shirley Schmidt on June 10, 2009 at 14:45:37:

In Reply to: Chamber Day obmination posted by Denny Crane on June 10, 2009 at 08:46:09:

Denny,

You're a smart guy Denny. Perhaps the boat owners/operators could do one or more of the following:

1. Take a tax deduction on the operating expenses as a charitable donation.

2. Include the expenses for that day as a loss on their taxes...won't it minimize the hit they take on taxes on profits from the other trips?

3. Deduct the cost as an advertising expense necessary to drum up new business/maintain good will in the diving community.

4. Deduct both the operating expenses and the amount each diver paid (okay, we know the amount really went to the chamber committee) for the trip as a charitable contribution.

5. Do all of the above and hope they're not audited.

Which one would Denny Crane suggest?



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