[meteorite-list] WI Meteorite Hunting Statistics

Darryl Pitt darryl at dof3.com
Sun May 9 20:37:46 EDT 2010 

Apologies in advance, but some of the information in the emails below  
is misleading.

If you are a professional meteorite hunter and running your meteorite  
business as a business, the cost of food on a hunting trip is in fact  
a legitimate line item expense---as can be entertainment---within the  
bounds of either tax code or the triggers that prompt an audit.

The purchase of meteorites is not a taxable expense but the  
acquisition of inventory, which is dealt with completely differently  
than line item expenses.

Companies for whom we work don't want to reimburse expenses whenever  
possible because they (a) don't want to pay and/or (b) undergo any  
scrutiny for reporting aggregate figures which are out-of-balance.   
It's different when you're running your own biz.  I highly recommend  
consultation with an accountant.

All the best, and for those immersed in the same, hoping you had a  
lovely Mother's Day!   dp





On May 9, 2010, at 3:42 PM, Bob Loeffler wrote:

> I disagree. Entertainment and food should NOT be counted as field  
> expenses.
> As Ryan mentioned, you have to eat food no matter whether you are out
> collecting meteorites or staying at home watching TV.  I would  
> understand a
> *percentage* of food costs should be allowed because the cost of  
> food in
> some areas will be higher than normal, but I don't know what a "good"
> percentage would be.
>
> As for entertainment, that should not be allowed because that could  
> skew
> your numbers drastically.  For example, if Geoff, Steve #1 Arnold,  
> Ruben,
> etc go to a nudie bar and drink shots of alcohol, the total bill  
> could run
> into the hundreds or thousands of $$$ (hahaha) and that shouldn't be
> included since they could do all of that in Tucson.  That's an extreme
> example, but I know that there is always at least one "get together"  
> on
> these types of field trips.  Only expenses that are in addition to  
> what you
> would normally have from your daily lives should be included.
>
> You (Eric) are the one who is compiling this list, so you make the  
> rules,
> but I (and many others) won't believe the results if you include  
> stuff like
> that.  When I go on a trip for my company, they want all receipts  
> and an
> expense report and then they go through each item one by one to see  
> what
> they will reimburse me for and what they won't.  Most entertainment  
> expenses
> are NOT reimbursed because the Federal government has rules and  
> regulations
> that companies have to abide by.
>
> Regards,
>
> Bob
>
>
>
> -----Original Message-----
> From: meteorite-list-bounces at meteoritecentral.com
> [mailto:meteorite-list-bounces at meteoritecentral.com] On Behalf Of  
> Meteorites
> USA
> Sent: Sunday, May 09, 2010 12:16 PM
> To: fallingfusion at wi.rr.com
> Cc: meteorite-list at meteoritecentral.com
> Subject: Re: [meteorite-list] WI Meteorite Hunting Statistics
>
> Food is still an expense. As is entertainment while on a business
> trip... All expenses should be included while on the road, as they are
> still "expenses". Many hunters don't have time to go to the grocery
> store, so to save time they eat out, which adds to the total. Any  
> money
> spent on the recovery of meteorites in the field are expenses.
>
> Regards,
> Eric
>
>
>
> On 5/9/2010 11:00 AM, fallingfusion at wi.rr.com wrote:
>> Hi Eric...
>>
>> Just wondering why food should be included for expenses. Don't  
>> people eat
> when they're not on a hunting expedition? Sure, eating out may be more
> expensive, but this isn't exactly fine dining were talking about  
> here. -
> Standard fare.
>>
>> Ryan
>>
>>
>> Sent on the SprintR Now Network from my BlackBerryR
>>
>> -----Original Message-----
>> From: Meteorites USA<eric at meteoritesusa.com>
>> Date: Sun, 09 May 2010 10:30:10
>> To: Meteorite-list<meteorite-list at meteoritecentral.com>
>> Subject: [meteorite-list] WI Meteorite Hunting Statistics
>>
>> Hi listees and fellow meteorite hunters in the field. I'm back from  
>> the
>> field and I'm compiling (unscientifically) some statistical data that
>> I've not yet seen anyone attempt to calculate in any way but a  
>> cursory
>> manner thus far. If you've hunted the WI meteorite fall, and have  
>> data
>> you'd like to share, please send me an email with your hunting
>> information/statistics.
>>
>> Primarily what I'm looking for is totals, hours hunted, days hunted,
>> meteorites found, and costs associated with this hunt. I'd like to do
>> this while WI is fresh in everyone's minds and I think that will  
>> provide
>> the most reliable information, and also give some an idea of the  
>> costs
>> in time and money that go into recovering meteorites from the field.
>>
>> Please send in the following format to make it easier to add all  
>> totals.
>> If you can think of any other data that should be included in this  
>> list,
>> please feel free to respond on-list so others can add their input.
>>
>> I will be including all my totals as well in this data.
>>
>> Total Days In The Field:
>> Total Hours Hunted Per Day:
>> Total Miles Walked Per Day:
>> Total Costs: (including airfare, hotel, rental car, food, fuel,  
>> cost of
>> meteorites purchased, miscellaneous expenses; i.e. "pay to hunt"
>> expenses) This need not be itemized, and can be a total cost for your
>> hunt...
>> Total Number of Meteorites Found:
>> Total Weight Found:
>>
>> This survey is completely anonymous, and your identity will be kept
>> confidential, all you need send is totals/numbers.
>>
>> In addition, those of you who'd like to share coordinates that would
>> also be appreciated, again, your anonymity will be kept unless you  
>> state
>> specifically that you wouldn't mind releasing your identity  
>> publicly in
>> association with your data.
>>
>> All this information will be published on my site and on-list to  
>> share
>> with everyone in a completely transparent and "open" manner.
>>
>> Thank you all in advance for your cooperation.
>>
>> Regards,
>> Eric Wichman
>> Meteorites USA
>> ______________________________________________
>> Visit the Archives at
> http://www.meteoritecentral.com/mailing-list-archives.html
>> Meteorite-list mailing list
>> Meteorite-list at meteoritecentral.com
>> http://six.pairlist.net/mailman/listinfo/meteorite-list
>>
> ______________________________________________
> Visit the Archives at
> http://www.meteoritecentral.com/mailing-list-archives.html
> Meteorite-list mailing list
> Meteorite-list at meteoritecentral.com
> http://six.pairlist.net/mailman/listinfo/meteorite-list
>
> No virus found in this incoming message.
> Checked by AVG - www.avg.com
> Version: 9.0.819 / Virus Database: 271.1.1/2840 - Release Date:  
> 05/09/10
> 00:26:00
>
> ______________________________________________
> Visit the Archives at http://www.meteoritecentral.com/mailing-list-archives.html
> Meteorite-list mailing list
> Meteorite-list at meteoritecentral.com
> http://six.pairlist.net/mailman/listinfo/meteorite-list

More information about the Meteorite-list mailing list