|
Posted by Ernie Klein on April 15, 2008, 12:10 am
Please log in for more thread options
> Is this thread what an IRS audit would be like?
Except the auditor won't have a smile on his face.
--
-Ernie-
--
<< ------------------------------------------------------- >>
<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
<< The Charter and the Guidelines for submitting posts >>
<< to this newsgroup as well as our anti-spamming policy >>
<< are at www.asktax.org. >>
<< Copyright (2007) - All rights reserved. >>
<< ------------------------------------------------------- >>
|
|
Posted by Paul Thomas, CPA on April 15, 2008, 7:43 am
Please log in for more thread options
>
>
>> Is this thread what an IRS audit would be like?
>
> Except the auditor won't have a smile on his face.
I've seen this nearly exact same scenario go south on someone.
Booking gets done over the phone and through e-mail these days. Same for
promoting.
The necessity of visiting a venue to evaluate the possibility that your band
might want to play there is dubious.
--
Paul A. Thomas, CPA
Athens, Georgia
--
<< ------------------------------------------------------- >>
<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
<< The Charter and the Guidelines for submitting posts >>
<< to this newsgroup as well as our anti-spamming policy >>
<< are at www.asktax.org. >>
<< Copyright (2007) - All rights reserved. >>
<< ------------------------------------------------------- >>
|
|
Posted by removeps-groups@yahoo.com on April 17, 2008, 3:30 pm
Please log in for more thread options wrote:
> I've seen this nearly exact same scenario go south on someone.
Did they have proper documentation? Were there entertinament/scouting
expenses large relative to the rest of their expenses? If they had
proper documentation (which shoud includes receipts and preferrably a
log of their analysis) and scouting expenses were not large relative
to all expenses (5% might be a reasonable ratio), then it seems fair
enough.
> Booking gets done over the phone and through e-mail these days. Same for
> promoting.
You still have to see the place in person to be sure. Sometimes you
could go to the place when there is no concert in place, probably for
free just to check out the size and so on. Documentation of this
would be good to have too.
> The necessity of visiting a venue to evaluate the possibility that your band
> might want to play there is dubious.
>
> --
> Paul A. Thomas, CPA
> Athens, Georgia
--
<< ------------------------------------------------------- >>
<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
<< The Charter and the Guidelines for submitting posts >>
<< to this newsgroup as well as our anti-spamming policy >>
<< are at www.asktax.org. >>
<< Copyright (2007) - All rights reserved. >>
<< ------------------------------------------------------- >>
|
|
Posted by Paul Thomas, CPA on April 17, 2008, 5:17 pm
Please log in for more thread options
> You still have to see the place in person to be sure. Sometimes you
> could go to the place when there is no concert in place, probably for
> free just to check out the size and so on. Documentation of this
> would be good to have too.
Clearly going there during the day, meeting with the management and staff,
sound and lighting people, etc is common enough practice in the music and
entertainment industry. Attending a show there is not.
Look, the folks at the venue will want you to have a huge show, and will do
whatever to make it so. They'll direct you to the radio, press, etc to get
your word out to the public that frequent their venue.
--
Paul A. Thomas, CPA
Athens, Georgia
--
<< ------------------------------------------------------- >>
<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
<< The Charter and the Guidelines for submitting posts >>
<< to this newsgroup as well as our anti-spamming policy >>
<< are at www.asktax.org. >>
<< Copyright (2007) - All rights reserved. >>
<< ------------------------------------------------------- >>
|
|
Posted by Seth on April 23, 2008, 9:34 am
Please log in for more thread options >
>> You still have to see the place in person to be sure. Sometimes you
>> could go to the place when there is no concert in place, probably for
>> free just to check out the size and so on. Documentation of this
>> would be good to have too.
>
>Clearly going there during the day, meeting with the management and staff,
>sound and lighting people, etc is common enough practice in the music and
>entertainment industry. Attending a show there is not.
I don't know the actual practices. I can see lots of times when it's
cheaper to attend a show (e.g. I want to see how fancy they can get
with the existing lighting system; they'll charge me a lot to have
their lighting engineer come in specially to show me, or I can buy a
ticket to a show where they say they'll be doing lots of lighting
effects.)
>Look, the folks at the venue will want you to have a huge show, and will do
>whatever to make it so. They'll direct you to the radio, press, etc to get
>your word out to the public that frequent their venue.
It's not clear they know the optimal ways to advertise (certainly they
have little incentive to save you money; they'd rather have you spend
another $1,000 to get $500 more tickets sold).
Seth
--
<< ------------------------------------------------------- >>
<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
<< The Charter and the Guidelines for submitting posts >>
<< to this newsgroup as well as our anti-spamming policy >>
<< are at www.asktax.org. >>
<< Copyright (2007) - All rights reserved. >>
<< ------------------------------------------------------- >>
|
| Similar Threads | Posted | | Entertainment and business meals | March 25, 2008, 6:54 pm |
| Re: Entertainment and business meals | March 25, 2008, 10:48 pm |
| Entertainment and Meals expense in Canada | February 25, 2007, 12:01 am |
| moving expenses / paying for mileage and meals of helpers | December 21, 2007, 11:19 pm |
| Four months a full time student? | January 12, 2007, 2:47 am |
| Dependent? Son age 24, military discharged, living at home, full-time student | April 2, 2007, 5:58 pm |
| Is this deductible | November 30, 2007, 1:51 pm |
| Assets Deductible? | February 12, 2007, 12:04 am |
| points deductible? | March 12, 2007, 4:54 am |
| Deductible IRA without Wages? | March 24, 2008, 1:28 pm |
|
|
Yahoo! 
Google 
Windows Live 
del.icio.us 
digg 
Netscape 
XML Sitemap