Posts tagged as:

hobby loss rules

Ask the taxgirl: Am I Blogging as a Business or a Hobbyist?

10 February 2010

Taxpayer asks:
I read your post about Mary Kay and I am still confused about hobbies. I own a bunch of blogs. I make money on some of them and I lose money on some of them. Does this make me a hobby?
Taxgirl says:
You’re right to be a little confused because this is not an [...]

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Ask the taxgirl: Hobby Expenses

15 April 2009

Taxpayer asks:
I run a hiking group online, and lead regular events with about $25 expense for each and an annual subscription to meetup and admin supplies.
Can this be a hobby tax deduction? I don’t make a profit, but sometimes get a contribution.

Taxgirl says:
It sure sounds like a hobby at this point. Any income that [...]

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Ask the taxgirl: Running As Fast As I Can

13 January 2009

Taxpayer asks:
I saw on twitter that you ran a race this year so maybe you can help me. I run a number of races throughout the year and I occasionally win some money. My friend told me that I have to include that money on my taxes. Can I deduct the cost [...]

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Rethink Pink: Mary Kay May be a Hobby, Not a Business

20 July 2008

At my BlogHer session on blogging and tax, I raised the issue of hobby loss rules. This is an incredibly important matter not only for bloggers but others who work in small or home businesses. Just ask Brenda Konchar.
Brenda Konchar, a Mary Kay Cosmetics representative, reported her Mary Kay activity as business income; [...]

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Ask the Taxgirl: What to do with a 1099

10 February 2008

Taxpayer asks:
I am a driver for a FedEx contractor, and I just recieved my 1099-misc form from my boss(the contractor) and I have no clue as to what to do from here. In the past, my jobs were paid by hourly wage and I received a W-2 for those. This is totally new to me, [...]

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