Originally Posted by skiprob
If I were a more aggressive person, I would seriously consider the costs associated with off season exercise training and equipment in order to remain in 'Top Shape' (HAH!) so as to "demonstrate my committment and dedication to the ski teaching profession and to my own personal development." per the PSIA-E Alpine Level II standards.
Remember, the amount of employee business expenses that are deductible are limited based on several factors. It is always advisable to seek advice from your tax professional.
I am an accountant whose work involves maintaining and developing fiscal information systems that interface with a lot of other fiscal information systems.
That's the problem, if you correctly and legitimately claim all of the associated expenses you will very quickly exceed the income and after three seasons the IRS will inform you that despite your membership in an organization of "Professionals" you do not have a business, or a career, or a job, but instead you have a HOBBY! None of your appropriate realated expenses will be allowable deductions. However, they will insist you show the income. I claim just enough of my equiptment, dues, and clinic fees to show less than $100 "profit" each year on a separate schedule C. I also spend between 60 and 80 days on skiis every season, making new friends every two hours and thoroughly loving what used to be my "hobby".
PS as many of you know (if you don't see "Fired by email" in the lounge) I have been looking for a new ski school for this season. Associate Certified (class of 1987) with ten seasons full time ski teaching experience and the offers are running $8.50 to $12 per teaching hour with some potential for more on Requested Privates.