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re: Tax Experts - Need some advice for non-profit org
Posted on 3/17/25 at 8:35 am to lockthevaught
Posted on 3/17/25 at 8:35 am to lockthevaught
quote:
I directly contribute to the non profit org's mission of informing the public and saving lives.
I highly doubt storm chasing has saved a life because of the short span of time between you “maybe” spotting a fast moving tornado and somehow notifying a person a mile up the road in the nick of time is statistically minuscule. The NWS issues tornado watches and the news stations has radar. Those products save lives. Chasing storms is just a thrill seeking activity. Just pay your taxes.
This post was edited on 3/17/25 at 8:49 am
1
Posted on 3/17/25 at 11:42 pm to TDFreak
(no message)
This post was edited on 10/20/25 at 11:28 am
Posted on 3/18/25 at 2:35 am to lockthevaught
quote:
I pay my taxes but I should at least receive deductions for buying gas to support an official non-profit org. I spend thousands of dollars a year just on gas, first aid supplies, and equipment
A non profit is simply a business that does work not for a profit, as in there’s no ownership that makes the profit at the end of the year. You are essentially a volunteer that wants some of your expenses back, but the non profit business doesn’t have any money to pay you back. So again, you are doing it as a hobby as a volunteer.
Your goal shouldn’t be to decrease your personal taxes, it should be to increase the non profit income to be able to afford your gas.
Posted on 3/18/25 at 5:45 am to lockthevaught
Perhaps, but it may be a Schedule A deduction subject to the Standard Deduction.
Posted on 3/18/25 at 5:52 am to Tchefuncte Tiger
quote:
Perhaps, but it may be a Schedule A deduction subject to the Standard Deduction.
Unreimbursed business expenses went away several years ago.
Posted on 3/18/25 at 5:56 am to lockthevaught
quote:
I storm chase for a non-profit organization. Would I be able to use my gas receipts and other chasing expenses as a tax write-off?
Set up a single member LLC, get a bank account, and present yourself as you as a professional storm chaser. Ask the not for profit to give you a couple bucks for your time so you can show a profit motive. Deduct your miles driven, supplies, etc to generate a loss that you can use to offset your regular income.
Posted on 3/18/25 at 6:22 am to lockthevaught
My apologies. You’re doing great stuff and I’m here being ugly. I’m going to back away from the keyboard for an bit until my mind is straight.
Posted on 3/18/25 at 6:56 am to lockthevaught
quote:
I pay my taxes but I should at least receive deductions for buying gas to support an official non-profit org. I spend thousands of dollars a year just on gas, first aid supplies, and equipment
Are you already itemizing your deductions?
quote:
In 2025, the standard deduction is $15,000 for single filers and married persons filing separately, $22,500 for a head of household, and $30,000 for a married couple filing jointly and surviving spouses.
Whatever category you fall under, your deductions need to be more than that number.
Posted on 3/18/25 at 6:59 am to lockthevaught
There is a charitable mileage deduction that you can possibly take advantage of if you itemize. It's 14 cents per mile.
Posted on 3/18/25 at 7:24 am to Rex Feral
quote:This would probably work for a couple years but the IRS will deem it a hobby if the business isn’t able to turn a profit by year 3.
Set up a single member LLC, get a bank account, and present yourself as you as a professional storm chaser. Ask the not for profit to give you a couple bucks for your time so you can show a profit motive. Deduct your miles driven, supplies, etc to generate a loss that you can use to offset your regular income.
Posted on 3/18/25 at 7:28 am to lockthevaught
Make sure its a non profit vs a not for profit. 2 different entities.
Posted on 3/18/25 at 8:32 am to Rex Feral
quote:
Unreimbursed business expenses went away several years ago.
Yes, I know. They went away around 2016, but if he's claiming it as charitable (volunteer work) miles, etc., he may possibly be able to use them at .14 per mile. It's a stretch, though as I doubt storm chasing is legit volunteer/charitable work. However, If he's a 1099-NEC/MISC individual he may put this info on Schedule C.
Posted on 3/18/25 at 8:33 am to The Nino
quote:
This would probably work for a couple years but the IRS will deem it a hobby if the business isn’t able to turn a profit by year 3.
There's ways around that. It not being his main source of income would be an issue, but having a bank account, LLC, accounting system, and being able to prove a profit motive could prove it's not a hobby.
Posted on 3/18/25 at 8:36 am to baldona
quote:
A non profit is simply a business that does work not for a profit, as in there’s no ownership that makes the profit at the end of the year. You are essentially a volunteer that wants some of your expenses back, but the non profit business doesn’t have any money to pay you back. So again, you are doing it as a hobby as a volunteer.
Please shut the frick up, as you have no idea what you are talking about
Posted on 3/18/25 at 8:38 am to lockthevaught
Only if you drive a truck that has a whole bunch of balls on the top of it that no one really knows what those hundreds of balls do, and only in Oklahoma
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