Hobby loss | AccountingWEB

Hobby loss


How Not to Get Too 'Creative' with Hobby-Related Tax Deductions

Writers and artists get certain deductions—but often their 1040's are the most creative things they produce.

How the IRS Tells a Hobby from a Business

Do you like to mold pottery, run chartered fishing trips, bake and decorate cupcakes, or restore antique cars? These are all hobbies that you can turn into businesses—if the IRS says you can.

Linebacker Romanowski Loses $13 Million Tax Deduction

As a former defensive player, Bill Romanowski should've seen this latest round of trouble coming, but he didn't. Having been a linebacker for several teams over his career, he's seen his share of controversy.
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