A work-around idea

Okay so 40 patrons have sent the Friends a generous donation for $200.00 each. Now since these folks were so generous the railroad has chosen to allow them to ride their work train which is being operated to help the Friends and C&TS do "Training" with these cars. So theoretically the train can run regardless, and beyond the "Thank You" card from the Friends you get to watch the "Training Run". If they just happen to stop a few places for pictures, so what? The concept just needs to be reworked, so that the generosity of the donations is not really valued in the form of the train ride.
Option two: Someone needs to form a corporation or some sort of business, with the intention of making some product out of the photos from the trip. If everyone joins this company, then they can be considered "Business Expenses". My entire trip is deductable since its part of my business. Some restraints are a maximum on food allowance, and we do mileage on the vehicles, but do not count gas and repairs, or insurance.
Now when you get right down to it, how much savings are folks really missing out by not taking this as a tax deduction. Lets say you are in a high tax bracket. You are spending what $175.00 for the ticket. If you are in a 25% bracket, you are looking at saving roughly $45.00 off your tax return. Its not really a big deal!!!

Greg



Edited 1 time(s). Last edit at 08/15/2015 06:33PM by Greg Scholl.