Ski and deduct the cost of the trip!

[marcski]

http://custom.yahoo.com/taxes/artic...-af62-1d7e48c47870-most-tax-efficient-man-wsj

 

[Warp Daddy]

That's great !!

When i had my management consulting business on the side for 20 yrs, my partners and i often joked about doing a program in Aspen entitled " Skiing the Bumpy World of Corporate Change " back when rightsizing was in vogue and TQM and CQI and transformational Leadership . It was going to be half days of seminars with afternoons to ski and "relate" to our clients

Never did it Dammit -- mebbe we should have done it ??. with sessions leveled by ability Green Circle. Blue Sq and Black Diamond and get some instructors involved ,Damn could have been some of you guys

 

[marcski]

That's great !!

When i had my management consulting business on the side for 20 yrs, my partners and i often joked about doing a program in Aspen entitled " Skiing the Bumpy World of Corporate Change " back when rightsizing was in vogue and TQM and CQI and transformational Leadership . It was going to be half days of seminars with afternoons to ski and "relate" to our clients

Never did it Dammit -- mebbe we should have done it ??. with sessions leveled by ability Green Circle. Blue Sq and Black Diamond and get some instructors involved ,Damn could have been some of you guys

My bro, a Doc, has gone to at least one medical seminar held in Vail!

 

[dmc]

Lots of Ski Patrollers deduct the cost of their ski houses and stuff..

 

[Warp Daddy]

My bro, a Doc, has gone to at least one medical seminar held in Vail!

Oh Hell yeah------------- 4 of our docs at the Med center where i'm on the Board went to Vail in Feb too . It's a Good gig

 

[darent]

my good friend is a veterinary orthopedic surgeon, those guys have seminars in ski season every year , this year it was in snowmass. I went along a couple of years to warm his couch but I don't get the tax write off

 

[riverc0il]

That's great !!

No, it is terrible. We need to chuck the current deduction based tax system in favor of a more comprehensive and fair approach. Full disclosure: I own a home and take that deduction and took education deductions for my college loan when I had them. You'd be a fool not to take every deduction you legally are "entitled" to. That doesn't mean it is a good or fair system, though. Just means you gotta do the smartest thing for your personal bottom line. Doesn't make it any less terrible, just means we play the game as it has been given to us to play.

 

[Warp Daddy]

No, it is terrible. We need to chuck the current deduction based tax system in favor of a more comprehensive and fair approach.

I agree that it Sounds great in theory Steve , but IMO has little chance of ever seeing the light of day. Just too many competing interests that heretofore have been unable to compromise and bring about the change ,

Remember Steve Forbes's flat tax proposal and others like Perot proposed Marginal Tax rate structure and others VAT yet to date no common acceptance of any of these notions has come to pass

. It used to irk me as a private business that i had several regs and mandates without $$ and moreover the SS hit for self -employed is a PIA and lets not even go to Health insurance costs . Just sayin

 

[drjeff]

Just remember if you take too many deductions, with respect to income levels and what percent of your income those deductions total, you could very well find out about the biggest oxymoron in all of the tax code, the Alternative Minimum Tax (AMT) which sure isn't a minimum amount for you if you "qualify"

That being said about ski trip deductions, there's a company based in Park City that runs generic "modern technology in the professional office" seminars each week during ski season - it's something like meetings from 7-9AM and then from 5 to 7PM for 3 days and bam! Your ski trip can be deductable!

 

[tjf67]

If you volunteer @ a mountain you can deduct the cost of your gear. Only in the percentage that it is used work/play. AMT will get u though.