AudioBanter.com - View Single Post

"John Atkinson" wrote in message
m
(Nousaine) wrote in message
...
(John Atkinson) wrote:
It's a subjective judgment on the part of the IRS. Earn $1000 and
deduct $1000 and the IRS will judge it a hobby. Earn $100k and
deduct the same $1k and the IRS will have no problem with it being
a business. The dividing line lies somewhere in the middle. :-)

This is a bit of an oversimplification as well. $100k in gross
receipts is not 'earnings.'

My apologies for confusing you Tom. My statement was meant to be
humorous, hence the smiley.

Tom's still recovering from the OD of accounting he received in business
school. FWIW, I saw the same error.

John. well-written humor that is reality-based should be technically perfect
up until the humorous twist. I take it you either never read Freud or never
believed anything he said?

;-)