Alaska must have some of the best porkers in existence sitting in our hallowed Congress. Look at this CHARITABLE IRS deduction. Of course, you have to be recognized by the Alaska Eskimo Whaling Commission to collect this little gem:Expenses of Whaling Captains
Beginning in 2005, you may be able to deduct as a charitable contribution the reasonable and necessary whaling expenses paid during the year in carrying out sanctioned whaling activities. The deduction is limited to $10,000 a year. To claim the deduction, you must be recognized by the Alaska Eskimo Whaling Commission as a whaling captain charged with the responsibility of maintaining and carrying out sanctioned whaling activities.
Sanctioned whaling activities are subsistence bowhead whale hunting activities conducted under the management plan of the Alaska Eskimo Whaling Commission.
Whaling expenses include expenses for:
- Acquiring and maintaining whaling boats, weapons, and gear used in sanctioned whaling activities,
- Supplying food for the crew and other provisions for carrying out these activities, and
- Storing and distributing the catch from these activities.
Ahoy there...just call me Cap’n.
If you’re interested in what you may not deduct for your whaling activities, just visit your friendly IRS online.
Man, I’d sure like to whale on the
Hat tip: Mr. Wally Ballou, who is at home doing his taxes. Jeez, and it’s not even April 14th yet.
2 comments:
Well every one of the listed expenses would be a legitimate business deduction. Applicable against earnings. The two "corkers" would be the subsistence requirement and the allowability for charitable contributions to exceed income. Income levels skewed by a presumption that much of the whales would be consumed and/or utilized and a cash value not imputed at that stage of processing.
This is probably a near equivalent of treaties allowing for Indian hunting/harvesting within their respective areas. Since the Eskimos hunting is not land based, but aquatic, and waling is much safer in vessels made for the purpose than in kayaks (an Indian might well hunt safely from horseback with a rifle to kill, a travios for the horse to drag back the kill, and a radio in case an injury or snakebite necessitates help).
I would check on the Whaling Commission to find out who can be (and under what conditions) "subsistence whalers".
The justification for this amazing piece of legislation is provided by its sponsor here. It's for "eskimo subsistence whaling", and the idea is that the whaler is supporting his community charitably by whaling.
Still sounds like one of the 1,000,000 or so activities the feds have no business legislating on, but do anyway.
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