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Old 10-06-2003, 05:56 PM
BenignVanilla
 
Posts: n/a
Default Ponding tax deductable?

"Oingofan" wrote in message
om...
Turn your hobby into a business and write it off:

http://www.bcentral.com/articles/anthony/225.asp

Has anyone done this before with ponding (selling Koi, etc.)?


The key here is that you need to be starting a legitimate business. I have
seen many people burned because they thought they could write their lives
off their taxes. I am sure you could make some cash selling materials, and
write off your expenses, but don't expect to just turn your pond into a tax
deduction.

Disclaimer: I own my own business, and I aggressively encourage my
accountant to be conservative, in order to avoid causing a stir at the IRS.

BV.