What Stays in Vegas: Deductible?
Just out of curiosity, is money spent supporting yourself while volunteering for a political campaign tax deductible? With the campaigns moving to Vegas I feel a surge of interest I didn't feel when the action was in Iowa and New Hampshire.
How about gambling losses incurred while campaigning? How about lap dances? Lap dances where educational policy is discussed?
How about gambling losses incurred while campaigning? How about lap dances? Lap dances where educational policy is discussed?
1:17 AM
Nice try, Michael. Are you perchance a masochist? I only ask because such a public question seems destined to earn you a place at someone's audit table in the near future. (Agents read blogs, too.) *LOL*
8:07 AM
Randy, I'm just saying that if I am willing to contribute to the process, to give of myself by, let's say, moving into the Bellagio and in between games and shows, handing out voter information leaflets, shouldn't I be able to write that off? You'd think the IRS would applaud such grassroots democracy.
4:59 PM
No political contributions of any kind are deductible. Only charitable contributions are. If you are going to spend time in Vegas working for a soup kitchen or something like that, then 'yes' your mileage and some per diem amount is legitimately deductible.
Gambling losses are indeed deductible from your income. [And gambling winnings are considered 'income.'] They need not be connected to anything, but you do need a special 1099 to claim them.
No charge, Big Guy.
6:06 PM
Soup kitchen, eh? Hmmmmm. Thanks, Ruth Anne. Thank you very much.
Soup, anyone?