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Is Your Home Business (Writing or Otherwise) Considered a “True” Business?

by Mary Emma Allen on July 7th, 2008


Jean Murray, at Small Business Boomers, has a great post with information about what the IRS (Internal Revenue Service in the US) considers a true business. You might like to check out her, Boomers Retiring to “Fun” Businesses: Is birdwatching a business?

She mentions some of the criteria the IRS uses to determine whether you’re en titled to deduct your losses from the business you’re operating or starting up. Jean does mention that writing is one business that’s easier to justify some of your expenses under the “hobby loss” rules than others.

(Amazon image)

(c)2008 Mary Emma Allen

Tags: , birdwatching, business expenses, business losses, , , IRS, , , , , Small Business Boomers,

POSTED IN: Baby Boomers, Planning, Taxes

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