Thread: IRS likes YOU
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Old Tue Jun 24, 2008, 10:49am
ozzy6900 ozzy6900 is offline
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Join Date: Jan 2002
Location: CT
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Quote:
Originally Posted by Emperor Ump
Check with your tax professional. My CPA has me claim my baseball income as "hobby income" with a much lower tax rate than self employment. But when claiming "hobby income" you cannot take deductions. In my situation it works out better. YMMV
Yeah, tell that Bozo, when they charge "hobby gas prices" I'll accept "hobby income"!
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