NEWSLETTER

Are You a Business Owner or Hobbyist? Many of us would like to turn our hobby into a regular business. That's fine as long as the business turns a profit. And, it may be fine as well if the business produces a loss and you enjoy the activity; even better if the loss can offset income from your day job.   Required Minimum Distributions Waived for 2009 Taxpayers can be subjected to an onerous excise tax if they take less than the required minimum distribution (RMD) from their retirement plan each year.   Sales Tax Write-offs for Vehicles and Motor Homes A provision in the recent Stimulus Act provides that qualified motor vehicle taxes are deductible as either an itemized deduction or as a component of the standard deduction.