Quote:
Originally Posted by Mark T. DeNucci, Sr.
Rich:
If you are taking all of the legal deductions that you are alllowed and you are still having a taxable profit on your Schedule C, then you have to be doing something wrong. I can not remember the last time that I had a taxable profit on my Schedule C.
MTD, Sr.
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I think you have to show a profit occasionally (the specifics are in the regs -- something like 2 years out of 5,...) or you risk it getting classified as a hobby.