Getbig Bodybuilding, Figure and Fitness Forums
Getbig Main Boards => Gossip & Opinions => Topic started by: dantelis on October 28, 2008, 12:57:21 PM
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Seems obvious seeing it in writing, but I never thought about the fact that pro bodybuilders are able to take a tax write-off on most of their competition expenses.
From: Give Me a (Tax) Break!
http://www.minyanville.com/articles/Paulson-taxes-funds-tax-AET-hedge/index/a/19727 (http://www.minyanville.com/articles/Paulson-taxes-funds-tax-AET-hedge/index/a/19727)
"For every James Simons -- founder of Renaissance Capital and the smartest billionaire in the world, according to Forbes -- there’s a Dexter Jackson. Dexter was 2008’s Mr. Olympia.
Do you know how much it costs to grease up a 215-pound physique for competition? Pro bodybuilders can write it off, as it’s a necessity for competition."
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Well hi there, I just spent 20k on illegal hormones, can I have a tax break? ::)
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A friend of mine had one of those ghey ass "pay sites" for the sole purpose of legally claiming it as a business, and writing off her competition/training expenses - gym, hair, makeup, suits, tanning.. whole nine yards. She said it worked out well in her favour financially.
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A friend of mine had one of those ghey ass "pay sites" for the sole purpose of legally claiming it as a business, and writing off her competition/training expenses - gym, hair, makeup, suits, tanning.. whole nine yards. She said it worked out well in her favour financially.
As long as she could demonstrate a profit motive (if necessary), then it's all good.