Write off training camp as business expense?

Underground
1

Can fighters do this? Do they?

2

Diaz brothers tried too but the accountant reminded them that they actually don't pay their taxes. 

3

With your extensive career, I thought you would have sorted out the accounting by now. Do they let you write them off in Japan?

I always wrote mine off. One year I had a problem with expenses and foreign taxes paid related to our fight and the lack of documentation and communication from the promoters.

4

I see what you did there.

5

Of course.

Fighters = LLC

They should be writing off everything. I think Carwin did a write up about this.

 

Shane!?

 

 

6

12SixElbow -

Of course.

Fighters = LLC

They should be writing off everything. I think Carwin did a write up about this.

 

Shane!?

 

 

Correct.

 

They definitely should be written off and LLC is good too so fight money, expenses, everything can be kept separate. It is also possible for International bouts that not claiming or maximizing the proper expenses you can be subject to even more taxes withheld.