Thread: Tax write offs
View Single Post
  #21 (permalink)  
Old Wed Jan 30, 2008, 08:51am
bob jenkins bob jenkins is offline
Official Forum Member
 
Join Date: Aug 1999
Posts: 18,019
Quote:
Originally Posted by Whistles & Stripes
Always in the negative because of the mileage? Are you kidding me? I don't see how this is possible.
I agree, and I think (but I am not a tax expert, nor did I stay in a HolidayInn Express last night) that you need to occasionally (something along the order of 1 in three years) declare a profit or the IRS might / will decide that this is a hobby and not a business.
Reply With Quote