December 18, 2008
Publisher's Note
Several years ago when I worked for an accounting firm we had a “tree planting day.” This firmwide service day helped a local organization that was created to help keep the city looking attractive. It was a cool, drizzly day, but we all had fun and we worked hard. At the end of the day we all sat soaked and muddy out of place at a nice restaurant we had reserved, not having thought about the possibility of rain and mud!

I think about that day every once in a while and am glad that we made the effort. Did your firm or company have a day like this in 2008? A similar service type of day? If so, let our readers know in the what you did and what it was like.

Rob Nance
AccountingWEB, Inc.

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Basic Accounting

I am employed and would like to improve my knowledge on the basic accounting. I am close to 60 and have forgotten some of the basics. Could you please help!!
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Sole proprietor taking a year off

A sole proprietor client has run his business part-time for a few years and never had much of an income from it. He has always had employment income too. During 2008 he has had no self employed income. He was spending time developing the business and working on marketing etc. for a big push. He plans to go full time 6 months after year end. Can he still claim his expenses on his 2008 tax return?
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