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View Full Version : Does anyone deduct BBQ expenses on their taxes?


bo_gator
04-04-2013, 09:10 AM
Does anyone here deduct their BBQ expenses on their taxes, using Schedule C :?:

Of course you would have to be a competition cooker in order to do this.

Bonewagon
04-04-2013, 09:51 AM
Or catering I imagine. No tax deductions for me as it's strictly a hobby.

BBQ PD
04-04-2013, 10:06 AM
Unless your team is an actual business, and you're making a living at it, I can't see where you would be able to file using the schedule C. Otherwise it's just a hobby, and not deductible.

WareZdaBeef
04-04-2013, 10:12 AM
If its just a hobby and your BBQ expenses are that high that you have thought of deducting it from your taxes, I think you need to consider a cheaper hobby.:razz:

ButtBurner
04-04-2013, 10:14 AM
I think you could, expecially if you have winnings

I know people who fish in tournaments that do.

I would be very careful about this and consult a tax expert.

but i think its possible

I would ask in the comp forum

Jorge
04-04-2013, 10:16 AM
Expenses can't be greater than winnings, and consult a tax pro.

SmokinJohn
04-04-2013, 10:55 AM
You don't have to be a comp cooker to do this.

You could sell BBQ's meat online to people from a website. You would need to show that you actively work the business, and you would have to be able to produce records/receipts.

You could be a BBQ blogger/product reviewer, which would require you to purchase items for use on the blog.

Again, consult a tax person before doing this, but it can be done.

Just my two cents.

Jason TQ
04-04-2013, 11:00 AM
There was another thread on the subject too for more info.

http://www.bbq-brethren.com/forum/showthread.php?t=155892

smokinit
04-04-2013, 11:15 AM
I file a K1

flyingbassman5
04-04-2013, 11:27 AM
If its just a hobby and your BBQ expenses are that high that you have thought of deducting it from your taxes, I think you need to consider a cheaper hobby.:razz:

:boxing:

Clearly you're not into Amateur Radio. Its easy to drop two or three thousand on a transceiver, antenna, and other shack gear. All in the name of merely a "hobby".

Lol just giving you some chit though :thumb:

73 de KD0PBO

Lake Dogs
04-04-2013, 12:27 PM
If its just a hobby and your BBQ expenses are that high that you have thought of deducting it from your taxes, I think you need to consider a cheaper hobby.:razz:


New to this, are 'ya? :icon_blush:


Back WHEN I competed I'd do 4 comps per year; 3 MBN and 1 KCBS comp, total $$$ outlay by ME personally was almost to the penny $5400 to compete, some years I'd win back a few hundred, a couple years I made my money back plus a few dollars...

To the original poster, and I WAS a tax pro, it's a hobby expense, and the money is deductible up to, but no more, than your total winnings. Use it so that you dont pay taxes on your winnings.

Cack
04-04-2013, 12:31 PM
You don't have to be a comp cooker to do this.

You could sell BBQ's meat online to people from a website. You would need to show that you actively work the business, and you would have to be able to produce records/receipts.

You could be a BBQ blogger/product reviewer, which would require you to purchase items for use on the blog.

Again, consult a tax person before doing this, but it can be done.

Just my two cents.

I do a blog ... hhhmmmm :idea:

bo_gator
04-04-2013, 12:45 PM
New to this, are 'ya? :icon_blush:


Back WHEN I competed I'd do 4 comps per year; 3 MBN and 1 KCBS comp, total $$$ outlay by ME personally was almost to the penny $5400 to compete, some years I'd win back a few hundred, a couple years I made my money back plus a few dollars...

To the original poster, and I WAS a tax pro, it's a hobby expense, and the money is deductible up to, but no more, than your total winnings. Use it so that you dont pay taxes on your winnings.

The last I checked the IRS gave you 3 years to produce a profit, or it is a hobby. As a profession all reasonable and necessary expenses would be deductible, but as a hobby only the amount up to total earnings would be.

JS-TX
04-04-2013, 12:48 PM
I do a blog ... hhhmmmm :idea:

But how is a blog a business? Would running google ads or other ads be considered a business? If so... hmmm..

SmokinJohn
04-04-2013, 03:18 PM
But how is a blog a business? Would running google ads or other ads be considered a business? If so... hmmm..

Let's say, for sake of argument, that I want to sell UDS or Big Baby Smokers. How do I get the word out?

I could start a blog, the purpose might be showing the reader how to build one, and / or giving them the option to pay me to build one for them.

In order to keep the reader there, I'm going to have to build a smoker. I'm going to need parts. I'm going to need tools. I'm going to have to pay hosting fees and domain fees. These are expenses.

I'm going to need to test and tune my smoker before I sell to the public. More expenses. Meat, Charcoal, Thermopens, ATCs.

Other than building UDSes and Double Barrel Smokers, I have no need for an angle grinder, 1" hole saw, jig saw, or barrel cutters.

The tasty products I prepare using my "revolutionary" design are the proof that my products works.

Make sense?

WareZdaBeef
04-04-2013, 03:23 PM
I was just saying that if its hurting your wallet soo much that you resort to trying to get a tax break, then maybe you should find a cheaper hobby. I have plenty of expensive hobbys, but i dont try to cheap out on the gov to support my hobby's.

Cayman1
04-04-2013, 04:49 PM
If the IRS didn't require me to pay taxes on the winnings, I might not deduct expenses, but they do.

RangerJ
04-04-2013, 04:55 PM
I was just saying that if its hurting your wallet soo much that you resort to trying to get a tax break, then maybe you should find a cheaper hobby. I have plenty of expensive hobbys, but i dont try to cheap out on the gov to support my hobby's.

Lets see, gas is taxed, income is taxed, groceries are taxed, tobacco is taxed, beer it taxed... Looking at the amount I pay annually, I'm far from "cheaping out on the gov".

But I will certainly use the tax code to my advantage, hobby or not.