Search Help


Enter one of more keywords to search. Use quotes for “exact phrase.” Note that '*' and '?' wildcards are supported.

When your search results appear, you can refine your search further: Sort for only results in which all search terms appear AND/OR sort by chronological order.

Article Date:
October 2009


Word Count:
1058

 

 

Tax Law Obliterates Hobbies


Let’s imagine that Congress hired you to make the most unfair and unjust income tax known to a U.S. taxpayer. How much tax would you assess? How would it work? Think about that tax. Make it as unfair as you can imagine.

 

Now, let’s compare your most unfair tax with an income tax that actually exists in U.S. tax law.

 

Get Ready to Cry

 

For purposes of this example, let’s assume that you and your spouse report more than $175,000 of taxable income before considering the taxable income and deductible expenses of your hobby. Next, let’s say that your hobby has a gross income of $500,000 and expenses of ... Log in to view full article.

Already a subscriber?
Email Address
Password


You’ll be able to read the full article and get instant access to the last few issues of the Tax Reduction Letter
Not yet a subscriber?
with a money-back guarantee



Powered by Cranium Softworks - CMS, Subscription Mgmt & Web Development

 

SS