[Woodcarver] Re:Carving as a profession

[Mike Bloomquist]

Just MTCW but, You don't have to be "full time" to get tax breaks.  If you are operating a hobby "with intent to make a profit" there are many tax benefits open to you, including the mileage on your vehicle to certain events.  For the details (and legality) though, hire a good tax consultant for at least one year.  You can do your taxes yourself for several years after that provided your situation or the tax laws don't change significantly.  My tax consultant has been Turbo-Tax software for the past few years, but I'm VERY conservative on how Yvonne I take advantage of  this.  Still, it helps.

Again, I'm NOT a tax professional, so all the usual disclaimers apply ;-).

Keep on Carvin'
-Mike Bloomquist->

Wooden Dreams Woodcarving
http://www.borg.com/~bloomqum



----- Original Message ----- 
  From: Watson Family 
  To: [Woodcarver] 
  Sent: Monday, May 03, 2004 12:10 AM
  Subject: Re: [Woodcarver] Re:Carving as a profession


    And much of it seems to get spent in tools and materials. 
   
  Tom the good part is tools and material are tax deductions

  Peter 

  Woodcarvings and Wildlife Sculptures
  http://www.watsonwoodcarver.com 


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