[BC] Negativity

[Glen Kippel]

On 4/24/07, Kevin C. Kidd, CSRE/AMD <kkidd at kkbc.com> wrote:
>
>
>
> My old accountant cautioned me time after time about
> calling my business a hobby.  Hobbies don't have
> deductions...
>
> Having a job that just happens to involve a hobby makes the
> new transceiver easier to explain to the XYL and the IRS.
>
> -----------------


Yes, LOL.  You can't deduct hobbies, but you should be able to show some
kind of profit (even $1.00) in one or two out of 5 years or the IRS will
declare it a hobby instead of a business.