Greg Scholl Wrote:
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> 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.
Don't forget that the IRS rules are based upon years of experience.
At one time, radio preachers would say something like, "send me a gift
and I'll send you a gift". The IRS now requires a contemporaneous receipt
stating the amount of the gift and the value of anything given in response.
You need to give a nontrivial amount before deductions make any sense.
This trip won't be enough by itself. The IRS computers watch for changes
in your behavior, and very likely you will be asked to explain
(i.e., provide the required reciept)
> 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.
And, as I assume you know, you'd have to do all the usual paperwork.
I'm guessing the paperwork would eat up most of the limited benefit
you'd get from this ploy.
