Reply
 
LinkBack Thread Tools Search this Thread Display Modes
  #1   Report Post  
Old 10-06-2003, 06:32 PM
Oingofan
 
Posts: n/a
Default Ponding tax deductable?

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.)?
  #3   Report Post  
Old 10-06-2003, 06:56 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.


  #4   Report Post  
Old 10-06-2003, 07:08 PM
Bonnie Espenshade
 
Posts: n/a
Default Ponding tax deductable?

Oingofan wrote:
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.)?


Sure, but it's no longer fun - it's work.

--
Bonnie
NJ
http://home.earthlink.net/~maebe43/


  #5   Report Post  
Old 10-06-2003, 07:20 PM
K30a
 
Posts: n/a
Default Ponding tax deductable?

Wayne wrote Turn your hobby into a business and write it off:

I've made $$ into four figures writing pond articles....... but DH says it is
better to classify my income as hobby income for tax purposes.


k30a


Reply
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules

Smilies are On
[IMG] code is Off
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On


Similar Threads
Thread Thread Starter Forum Replies Last Post
OT Your tax bill - £100 million......for roads in Africa. Love Europe, Hate the EU United Kingdom 0 06-04-2009 08:25 PM
Travis County Tax Ripoff LibraMoon Texas 6 08-06-2007 06:41 AM
OT Council Tax David Hill United Kingdom 1 19-03-2004 04:56 AM
OT Council Tax David Hill United Kingdom 1 19-03-2004 04:24 AM


All times are GMT +1. The time now is 03:38 PM.

Powered by vBulletin® Copyright ©2000 - 2024, Jelsoft Enterprises Ltd.
Copyright ©2004-2024 GardenBanter.co.uk.
The comments are property of their posters.
 

About Us

"It's about Gardening"

 

Copyright © 2017