Showing posts with label hobby. Show all posts
Showing posts with label hobby. Show all posts
Sunday, June 11, 2023

Gambling As A Trade Or Business

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  The question came up recently: How does one convince the IRS that they are a professional gambler? The answer: it is tough. But not im...
Sunday, January 15, 2023

A Good Hire Can Help Prove You Are Serious About A Business

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If you have gig, there is a presumption in the Code that it will be profitable. Mind you, it may not be profitable every year. Not even Fo...
Saturday, April 17, 2021

Racing As A Trade Or Business

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  I am reading a case that made me grimace. The following is a total NO-NO if you are unfortunate enough to be selected for audit: As part...
Sunday, November 10, 2019

Repaying The Health Care Subsidy

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Twice in a couple of weeks I have heard: “They should check on the Exchange.” The Exchange refers to the health insurance marketplace....
Wednesday, September 18, 2019

A Horse Activity And Owning A Horse

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Her story has been out there for a while. I  did a quick search and found that she appeared before the Tax Court in 2013. She was back...
Monday, March 25, 2019

Captain Eddie’s Firefly

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The case starts with: Edward G Kurdziel is the only man in America licensed to fly a Fairey Firefly. He is also the only man in America ...
Sunday, September 2, 2018

Oh Henry!

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It is a classic tax case. Let’s travel back to the 1950s. Let us introduce Robert Lee Henry, both an attorney and a CPA.   He ...