Athlete Sponsorship

[bWilly]

What is the name of your state (only U.S. law)? Washington
I airbrush bodybuilders and figure/fitness athletes. I sponsor the fees for some of the athletes, usually 1 - 2 per show. How if at all can I write off these 'freebies'?
Also, I usually do all of the work myself, occasionally I grab somebody from the local venue to assist me and I pay them cash. In the past I have not been able to use these payments as write offs. I spoke with a business owner in New York and they mentioned they can write off up to $600.00 per job as 'Incidental Labor' is there anything like that for Washington?

Thank you for your time and effortWhat is the name of your state (only U.S. law)?

 

[LdiJ]

What is the name of your state (only U.S. law)? Washington
I airbrush bodybuilders and figure/fitness athletes. I sponsor the fees for some of the athletes, usually 1 - 2 per show. How if at all can I write off these 'freebies'?
Also, I usually do all of the work myself, occasionally I grab somebody from the local venue to assist me and I pay them cash. In the past I have not been able to use these payments as write offs. I spoke with a business owner in New York and they mentioned they can write off up to $600.00 per job as 'Incidental Labor' is there anything like that for Washington?

Thank you for your time and effortWhat is the name of your state (only U.S. law)?

Its not 600.00 per job. Incidental/casual labor is acceptable in very small doses, as long as you document the expense well, and document well to whom you paid the money. If you have any one person that you pay more than 600.00 to in a year's time, you MUST issue a 1099 Misc.

As far as the "freebies" are concerned, the actual cost (not your labor but the actual cost) of doing them can be considered an advertising expense.

 

[bWilly]

Thank you for your reply.
On the 'Document well' statment, what would that intail? SSN, copy of DL, signed document of some sort?

 

[LdiJ]

Thank you for your reply.
On the 'Document well' statment, what would that intail? SSN, copy of DL, signed document of some sort?

At a minimum, name address and social security number.

 

[bWilly]

Thank you!