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Post by pfsc on Feb 16, 2015 17:23:57 GMT -5
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Post by cspot on Feb 16, 2015 17:29:19 GMT -5
If I can write off all the hunting purchases I make in a year, my refund would be huge.
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Post by Deleted on Feb 16, 2015 17:44:17 GMT -5
I primarily work in corporate taxation but if I recall IRC section 170 already exists covering donations of property to qualified tax exempt charities primarily limited to the lessor of the taxpayers basis or FMV which interpretation could be made to include associated processing etc. Mebbie H.R. 461 if passed will further clarify or expand existing regulations under section 170. Sounds likes very positive bill!!
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Post by hunting on May 25, 2018 14:07:17 GMT -5
Very interesting information
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Post by davet on May 25, 2018 18:10:11 GMT -5
With the passage of the new tax law, this is nothing more than political hoo-haw grandstanding. The majority of hunters will never be able to "beat" (adding up mortgage interest, property taxes, contributions) the standard deduction of $24,000.
Now....maybe if your going to Africa and killing a bunch of animals to be given to the local's over there....you know.....where such a hunt cost $15,000 plus........
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Post by Deleted on May 26, 2018 4:23:30 GMT -5
With the passage of the new tax law, this is nothing more than political hoo-haw grandstanding. The majority of hunters will never be able to "beat" (adding up mortgage interest, property taxes, contributions) the standard deduction of $24,000. Now....maybe if your going to Africa and killing a bunch of animals to be given to the local's over there....you know.....where such a hunt cost $15,000 plus........ That is the way it goes with an African hunting trip. You can't import any meat from animals you take, but it never goes to waste. Most animals get donated to the local villages. When I killed the Cape buffalo, about thirty or so people showed up for the butchering. It was the same for all of the animals I took. Even the stomach and intestines were taken and washed out to be stuffed and cooked. I never considered that such a thing could have been tax deductable. Didn't matter. I would have done it anyway.
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Post by davet on May 26, 2018 6:35:18 GMT -5
...I would have done it anyway. Don't get me wrong, I think if anyone want's to hunt in Africa, and can do so....should!! I know that the locals show up for the meat....and are very happy to do so. (This is the part of the story that rarely gets told)
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