PSA

Started by CigarMan, Jun 28, 2023, 07:07 AM

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CigarMan

As a CPA let me assure you that it is NOT legal to deduct prostitutes' and strippers.  I know that the news about Hunter Biden got your hopes up and I wanted to help you avoid ugly audits.
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dogwalker

i'm not a CPA but if this is about deducting hobbies, then my understanding is those hobbies have to be incoming generating which our type of hobbying does not.

jimmiet

Quote from: dogwalker on Jun 28, 2023, 09:43 AMi'm not a CPA but if this is about deducting hobbies, then my understanding is those hobbies have to be incoming generating which our type of hobbying does not.

Amen to that!
I am still jimmiet

eldritch

So no happy ending for my taxes.  :o  ;D

dogwalker

unless you accept the potential consequences of a failed audit. The  IRS definition of a hobby is way different than ours.

Romanticlover

Can we deduct it as a loss?

...asking for a friend

Are we having fun yet?

bladegunner

im not looking for a lady, im just looking for a friend...

dogwalker

no because I'd guess it would have to be a business / revenue loss (again with the disclaimer I am not a CPA)