are any biz owners able to write the hobby off?  if so what the hell do you tell your accountant?

Well... "I see a train-wreck coming..."

Why leave any paper trails? When the IRS does a full audit (I've had three, came out clean each time), they go through everything.  

somehow I just don't see myself doing that.

OTOH If I treated a client to a trip where the hobby is legal, I could see myself listing the cost of "his" hookers that I paid for as part of the T&E deduction.

I still like that category...and it's truthful in most cases  LOL

And I didn't find one anywhere in the Internal Revenue Code either  

Cut and pasted that pic of him yesterday . Also heard she told him she looks sexy in boots.

Einstein

One of the questions that the tax software asked me was if I have any "hobbying expenses" that I want to claim as a deduction.   LOL!

The relevance of whether it being legal in the jurisdiction of where it occurred is simply a matter of it being rather foolish to provide an airtight paper trail and admission of guilt to having committed a crime to a federal agency who may or may not decide to pass it on down the road to someone who might decide to pursue it. Unlikely as it is, it just seems rather foolish to file a document that I need to swear is the truth that confesses to having committed a crime.

I have a couple of scenarios where I could easily make the case that it was not only a "normal" part of doing business, every bit as normal as taking a client out to dinner, but necessary as well. Keep in mind, I don't own a body shop, I own an oil company. Some things are quite "normal" in my business that are nowhere near normal in others.  I can think of several Dallas oil promoters that routinely run up several thousand dollar strip club bills in order to drum up business. To call them "oil companies" would really be a stretch, but they technically are in the oil business, even though IMO they are just high end con men.

Its really not any different with some of the asinine expenses that many entities run through anyhow.  Remember that the IRS is only looking for underreported income and overreported expenses.  To honestly think that some revenue officer is going to be so enthralled with hooker costs which, as you claim are ordinary and necessary...they would quickly move onto something that they can turn into tax revenue.

And I'm sure that a few ran hooker and drug expenses through them.

Set up a religious organization.  No filing of tax forms.  Other than on your initial incorporation.

and under oath to boot.

and no, us oil business whores are head and shoulders above the whores of Wall St, except of course for those that are both oil and Wall st whores. I played in those waters for a few years, long enough to know I prefer not to.

PSEguy147

Not on murder, drug dealing, pimping, or extortion....but tax evasion.  

And Stallone nailed him as well  LOL

Ah Blade, wherefore art though?

as the author of "Searchlight Nevada" found out when he deducted the cost of seeing prostitutes in various legal Nevada brothels on his tax return. The taxpayer said he was doing "research" for his novel about prostitutes and, therefore, this was an "ordinary and necessary expense incurred in a trade or business."

Many restaurants and bars will give you a fake receipt if you tip them well saying you spent x amount at their place when you spent it somewhere else.

Yep. I have receipts from the charity/church I give to in the exact amount each time I give. Then, at the end of the year they send me my total tax deductible amount to give to my CPA ha ha ha.

for farming expenses.

After all, she did raise about a thousand peckers in the last year.

Could be that the priests use the money to buy P4P...or a new organ (pun intended).

Which creates a loss.  The loss is subject to limitations given that writing the "Great American Novel" needs to produce a profit 2 out of 5 years to not be considered a hobby.

Just keep in mind the hooker would need to supply you with all her personal info so that the 1099 isn't with some phony ID.  Submitting fake 1099's will get expensive for the entity filing them...and provide nothing as far as documentation.

Why not pick up losing tickets at the racetrack as well  LOL  (Yea...I know some do that as well).

Joyce Meyer gives a breakdown of money spent. Quite frankly, it's on them to do what they promise to do. I did my part by giving it

When I was a bartender I did this all the time, and yes, it was always paid in cash. The guy would spend 100 and tell me to make it 200 and tip me, so I just did it. Now, I assume this was not an every day or every month thing, or like you said...will certainly be noticed.  

I was thinking in terms of the john taking the hooker for dinner...and fucking.  I guess if we're talking BP caliber a couple of bills might get that done.  But if he's paying for a 4 hour...it's likely to be 1,500 for the hooker along with dinner.  So to put that on a restaurant tab...OK.  But to document in an audit you'd really need to show it was paid by CC...cash is bullshit in that case.

that your participation is a health/medical expense.  If that pushes your annual total high enough, you could tx deduct it....
but we would have too decide what disease we are treating.

deduction for the tax years in question. This was a start up for the author but the tax court still found he qualifed as a trade or business- they court just disallowed the deduction for the amounts he paid to prostitutes for alleged "interviews."

I'm sure the same diseases can be used for "hooker treatments" as a health expense.

RENT  LOL

Damn now I want to open up my own bar.

medical expenses, in fact, I'd love to see them covered by health plans.

The medical and psychological benefits are well known.

But, it would make too much sense, so dream on.