In order to have your “hobby” considered a business, you must be pursuing the activity with the intent of making a profit. If this is not the case, the activity will be subject to…
More ➤There are two types of IRAs that individuals can create themselves, with extremely different characteristics. One is a regular IRA, for which the contributions are deductible. A regular IRA will put you ahead if…
More ➤It’s my turn again. The dreaded blog is due. What to write always seems to drive the “dreaded” part of a “blog is due.” So, I fired up Google News and started reading away. There…
More ➤Recently, in Windsor v. U.S., the Supreme Court made history by striking down a key provision in the Defense of Marriage Act (DOMA). Although DOMA wasn’t typically viewed as a tax law, it carried…
More ➤At the request of Senators Carl Levin (D-Michigan) and Tom Coburn (R-Oklahoma), the Government Accounting Office (GAO) recently conducted a study of the actual tax rates paid by companies that had $10 million or more…
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