non-profit diving?

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dlndavid

私は寿司およびアジア女性を食べるã
ScubaBoard Supporter
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Location
California Norte
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First I was going to post this:
Is there anyway to set ourselves up as non-profit organizations? We could gather underwater information on a volunteer basis? And then be able to write off our gear/travel expenses. Just a thought.

But then I did a little (very little) research on the web and found a non-profit organization that promotes the conservation of Sharks. So now the question would be:

If I were to join a non-profit organization like the one I found, and provide them with information on shark sightings (or lack thereof), could I write off some of my dive gear/travel expenses?
 
dlndavid:
First I was going to post this:
Is there anyway to set ourselves up as non-profit organizations? We could gather underwater information on a volunteer basis? And then be able to write off our gear/travel expenses. Just a thought.

But then I did a little (very little) research on the web and found a non-profit organization that promotes the conservation of Sharks. So now the question would be:

If I were to join a non-profit organization like the one I found, and provide them with information on shark sightings (or lack thereof), could I write off some of my dive gear/travel expenses?
I LUV the way you think!!!
Actually, I wonder if we could all pool our funds to purchase a dive shop and write our gear off that way too. :crafty: AND get it at cost. Might have to turn a 'profit' once in a while.........

Any accountants around here?
 
LOL Penny,
I always remember the owner of a LDS in Sarasota I met some time ago who when I said I would like to buy her dive shop she said, "Do you know how to make a million dollars in the dive shop busines???" No I said? "Start with Two MM...." Ba Ding!
 
Unfortunately, it's not that easy. If it is gray in the tax codes, my accountant will try it. If it's black and white, no way. As he told me, if you want to try it. Feel free, but you'd better be ready to pay the piper if you get caught.
 
Lead_carrier:
Unfortunately, it's not that easy. If it is gray in the tax codes, my accountant will try it. If it's black and white, no way. As he told me, if you want to try it. Feel free, but you'd better be ready to pay the piper if you get caught.

Once you're a professional your diving is tax deductible, you don't have to be "for huge profit" to realize the savings of writing off gear and travel. As long as I break even monetarily I figure I'm making out like a bandit. But then diving is only a second job for me.
 
http://www.irs.gov/publications/p526/ar02.html

I do some volunteer diving for a qualifying organization, and I deduct travel expenses related to those specific dives (i.e. parking and ferry tickets) organized by the group. If it were just a trip I set up on my own on a regular dive boat in the hopes of having a sighting, I would not run that risk. I definitely think gear would be pushing it, too.

P.S. re: your avatar, what are you up to with Asian women?
 

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