San Rafael, CA (PressExposure) September 17, 2009 -- (SAN RAFAEL, Calif. - Sept. 16, 2009 - Tax Reduction Letter) Charity-related golf events qualify players and spectators alike to claim as a tax write-off 100 percent of associated expenses to attend or participate, according to tax reduction expert Murray Bradford. Published in the August 2009 issue of Tax Reduction Letter, his article on the subject, "Business Tax Deductions for Golfers and Spectators," provides the criteria by which the expenses for any sports-related charity event qualify as 100 percent tax deductible. Other entertainment expenses are, typically, just 50 percent tax deductible, it notes. The latest six months' worth of Bradford's tax reduction articles are available to anyone with a 7-day free trial to the Bradford Tax Institute; an archive dating back much further is available to anyone who subscribes to the Bradford Tax Institute.
"Often, the key to making leisure tax deductible is to combine it with charity or business activities--maybe even both," said Bradford, whose expertise in tax reduction comes from 30 years in accounting, including a lengthy stay at Price Waterhouse. "This works especially well with sporting events and group entertainment events."
Publisher of the Tax Reduction Letter every month, tax reduction expert Murray Bradford, CPA, has years of experience in developing and implementing small business tax reduction strategies. A former accountant for Price Waterhouse, Bradford is founder of several tax reduction strategy businesses. Quoted in national publications such as The Wall Street Journal and featured on national programming such as Financial News Network and CNBC, Bradford has helped more than 500,000 self-employed taxpayers realize an average of $17,700 in new tax deductions. His popular courses provide actionable small business tax advice.
A "qualified charity event," according to Bradford, is one that not only organizes primarily for the purpose of benefiting 503(c)(3) charities, but also gives all its net proceeds to such charities and uses volunteers for substantially all the work performed in carrying out the event. Any golf event that meets these criteria qualifies, for instance, notes Bradford's article, which presents a "100 percent rule" for these scenarios and presents advice on the major considerations pertaining to such tax deductions. Additionally, events such as the PGA Tour's President's Cup and countless other sporting events are eligible for a 50 percent tax deduction if related in some way to business activity, a related issue that Bradford's article covers, as well.
"As usual, the key for taxpayers is to document their activities well," said Bradford. "With the proper paper trail and criteria met, an entertainment or sporting event can be fully tax-deductible. This is the kind of knowledge the everyday taxpayer probably lacks, a fact that makes the Bradford Tax Institute an incredibly valuable resource."
Taxpayers and tax professionals can view a Bradford Tax Institute video tutorial and learn how to gain access to nearly 400 Tax Reduction Letter articles at the site, with more on the way. Each presents tax reduction tips in plain English for tax laypeople and includes annotations for savvy accounting professionals. The last three issues are available through a 7-day free trial of the Bradford Tax Institute. Readers who decide to subscribe to the Tax Reduction Letter right now, however, receive immediate access to the entire archive.
"Tax Strategies for the Self-Employed (2009)" is also available. In this annual course, Bradford shares tax deduction tips designed to help one-owner and husband-and-wife businesses navigate the maze of rules they must follow to properly determine and report their income. Readers who order this tax reduction course immediately gain access to 171 tax lowering strategies that draw on Bradford's expertise from 30 years in accounting.