Friday, February 6, 2009

Tax Tip #8 Suspicious Activities

Hobbies vs Business

The IRS considers the following activities
suspicious because they involve significant
personal pleasure:

Automobile Racing
Training and Showing Dogs
Raising Show Horses
Record Recording
Ministerial Duties
Writing
Travel Business
Stamp Collecting
Antique Collecting

I am not a tax attorney or CPA. Please
consult one for more information.
"Lower Your Taxes Big Time" by Sandy Botkin
is a great resource book.