crypto wrote:Hey if I incurred a large amount of damage to, say, a vehicle, while engaging in Official ZS Business, can I deduct the cost of the repair parts?
I'm actually interested in the answer to this, not even joking
Also, is there any right and legal way to offer a Tax write-off for work done to a privately owned vehicle to make it into a "mascot" vehicle for use in promoting ZS and using it for different charity purposes or educational seminars? For example, Body Shop X paints the vehicle to match ZS color scheme and applies ZS Logos (after permission from HQ of course) to said vehicle and in exchange of money they get a receipt for the charitable donation of service so the vehicle can spread the word of ZS and enable us to reach more people to further our mission statement. Yay or Nay?
My personal, non-professional opinion here- ( consult your tax professional before deciding anything)...
Crypto - General maintenance on the vehicle isn't deductible. If the damage occurred specifically because of your ZS activity, and not just because the vehicle was in a state of disrepair, you might be able to make the case. I'm not sure how that would fair in an audit.
Ryder - The painting and vehicle modification doesn't mean the vehicle is limited to use in conjunction with your charitable activity (like, say, an ARC uniform would be). It may even increase the value of the vehicle thanks to the sheer awesomeness of the ZS logo. I would not try it on a return I was preparing.
In both of these cases, ZSI would not be issuing a receipt since we are not directly involved in the vehicle repairs or modification. The record keeping, valuation, and justification to the IRS would be your responsibilty. Consult with a tax professional before deducting anything.