Is This Worth $100 ?

thistlebloom

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:lol: With a Day lily business I would justify it and use as business expense writeoff.

Mary

Shhhh..... gotta be careful what you say..
you-know-who might be taking notes....
upload_2018-4-30_17-35-5.png
 

bobm

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Still trying to make a profit!
Trying or actually making a profit ? According to US tax code, to qualify as a business and write off expenses of doing business, you have to actually make a profit after all expenses in 3 out of 5 previous years. Otherwise you will be classified as a hobby and not be able to deduct expenses. Just saying ... :idunno
 

catjac1975

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Trying or actually making a profit ? According to US tax code, to qualify as a business and write off expenses of doing business, you have to actually make a profit after all expenses in 3 out of 5 previous years. Otherwise you will be classified as a hobby and not be able to deduct expenses. Just saying ... :idunno
Yea. just a hobby.
 

catjac1975

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Trying or actually making a profit ? According to US tax code, to qualify as a business and write off expenses of doing business, you have to actually make a profit after all expenses in 3 out of 5 previous years. Otherwise you will be classified as a hobby and not be able to deduct expenses. Just saying ... :idunno
I remember you saying this in the past and am being very conservative.
 

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