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Old 01-21-2009, 11:13 AM   #4
stlgreg
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Join Date: 03-26-07
Location: St. Louis, MO
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Quote:
Originally Posted by Neal View Post
We write off comp expenses...but also claim winnings as income. Who knew you had to spend so much to make so little. Not exactly a sound business model.
if there is no catering involved, the IRS could declare after so many years of losing money that you have a hobby and you cannot deduct it.

If you are claiming catering and or actually making money with bbq in some fashion you can pretty much deduct all contests stuff including milage and meals

Disclaimer: I only know this because i have run a few home buisnesses and only one has made any money at all. I am not a tax professional.
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