How to Get Paid For Playing Golf Without Going Pro

Golf is a game that can incite passions in those who love it. The biggest lament I keep hearing is that people can't play it as often as they like either because they don't have the time or their spouse insists on paying the mortgage. The solution is to find a way that playing golf can pay you no matter what your handicap.

Start a home based business and use golfing as a way to increase your business. The tax breaks alone could pay your green fees and the income you can develop can help you play whenever you want, wherever you want.

There are two tax codes in the US. One is for workers and one is for business owners. The government gives most of the tax breaks to the business owners because they provide most of the jobs, the economy and the wealth in the country. These breaks are so generous that Sandy Botkin, former IRS attorney, in his book, Lower Your Taxes - Big Time!, titled his first chapter, "Why You Would Be Brain Dead Not to Start a Home-Based Business (If You Don't Already Have One)". His second chapter is titled, "How to Deduct Your Fun".

The big difference between the codes is that workers pay taxes first and then expenses while businesses pay expenses first and then taxes. Thus, by legally shifting expenses you normally would incur, or would like to incur, to a business expense, you are paying with before tax dollars and lowering your tax liability at the same time.

The main points to remember is that you have to run the business with an expectation of profit and you must document your expenses. Without the expectation of profit, you risk having it classified as a hobby and you would lose your deductions. The only bar you have to get over is the expectation of profit, not actual profit. In fact, any losses occurred with a home based business can be used to offset other income.

In that second chapter, Sandy Botkin spells out that if you talk business in association with playing golf, half of the expenses are deductible. Creating a business purpose can be as simple as replying, "Business is unbelievable! But, I can never get enough referrals," when asked, "How's it going?"

Obviously, green fees are not the only expenses you can deduct with a home based business. You can hire your kids to do work instead of paying an allowance. If you use photos of your family, your youngest kids can be hired as models with their pay being a business expense. That money can be used to fund their college fund thus making college tuition an indirect business expense.

I am not a tax professional and you will need to talk with your tax professionals to make sure you have everything set up correctly. I'm just relaying what they have told me.

In addition to tax savings, many home based businesses offer residual income. This is income that keeps coming in after the initial work has been done. Some examples of residual income are book royalties for authors, oil wells and movie royalties for movie producers. One author I know is still receiving royalties from a book he wrote 28 years ago.

Another advantage of many home based businesses is called leverage. As you build your business, you can profit from the efforts of other people. If you work every minute in a day, you will have 24 hours worth of effort. If you have a team of 100 people, and each puts in 1 hour per day, you receive the benefit of 100 hours of effort.

Combine residual income with leverage and you have a winning combination for money freedom and the time to enjoy it.

By combining your love of golf with a sound home based business, you can have your golf game paying you no matter what your handicap.