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		<title>A home business tax question</title>
		<link>http://www.startupnation.com/community/orca/topic/A-home-business-tax-question.htm</link>
		<description>A home business tax question</description>
		<lastBuildDate>Tue, 5 May 2009 1:14:36 GMT</lastBuildDate>
		
			<item>
				<title><![CDATA[
In any case, IF your activity ]]></title>
				<link>http://www.startupnation.com/community/orca/topic/A-home-business-tax-question.htm</link>
				<description><![CDATA[
In any case, IF your activity is not carried on for profit, allowable deductions cannot exceed the gross receipts for the activity.&#160; So you will not have a tax loss, but you will not owe income tax on any income.]]></description>
				<pubDate>Tue, 5 May 2009 1:14:36 GMT</pubDate>
				<guid>http://www.startupnation.com/community/orca/topic/A-home-business-tax-question.htm#749054</guid>
			</item>
			<item>
				<title><![CDATA[
  Actually, there is a 3 of 5 ]]></title>
				<link>http://www.startupnation.com/community/orca/topic/A-home-business-tax-question.htm</link>
				<description><![CDATA[
  Actually, there is a 3 of 5 rule, if the business makes a profit in 3 of the last 5 years, it IS a for-profit business, end of story.&#160; If a business does NOT make a profit in 3 of the last 5 years, then there is a list of items that could poi]]></description>
				<pubDate>Tue, 5 May 2009 1:14:36 GMT</pubDate>
				<guid>http://www.startupnation.com/community/orca/topic/A-home-business-tax-question.htm#749053</guid>
			</item>
			<item>
				<title><![CDATA[There is no "2 of 5" rule.&#160;]]></title>
				<link>http://www.startupnation.com/community/orca/topic/A-home-business-tax-question.htm</link>
				<description><![CDATA[There is no "2 of 5" rule.&#160; It is simply an examiner`s guideline.&#160; If you are truly in business to make money and your expenses are genuinely aimed at making money, then you are a business.&#160; If the deductions don`t support the business or ap[...]]]></description>
				<pubDate>Tue, 5 May 2009 1:14:36 GMT</pubDate>
				<guid>http://www.startupnation.com/community/orca/topic/A-home-business-tax-question.htm#749052</guid>
			</item>
			<item>
				<title><![CDATA[
  I`ll bite on the vague comme]]></title>
				<link>http://www.startupnation.com/community/orca/topic/A-home-business-tax-question.htm</link>
				<description><![CDATA[
  I`ll bite on the vague comment.&#160; Please elaborate.
  &#160;
  Mark
  &#160;
  &#160;
]]></description>
				<pubDate>Tue, 5 May 2009 1:14:36 GMT</pubDate>
				<guid>http://www.startupnation.com/community/orca/topic/A-home-business-tax-question.htm#749051</guid>
			</item>
			<item>
				<title><![CDATA[You need a new accountant if he/]]></title>
				<link>http://www.startupnation.com/community/orca/topic/A-home-business-tax-question.htm</link>
				<description><![CDATA[You need a new accountant if he/she is vague on something this basic.]]></description>
				<pubDate>Tue, 5 May 2009 1:14:36 GMT</pubDate>
				<guid>http://www.startupnation.com/community/orca/topic/A-home-business-tax-question.htm#749050</guid>
			</item>
			<item>
				<title><![CDATA[
  The rules are in several pub]]></title>
				<link>http://www.startupnation.com/community/orca/topic/A-home-business-tax-question.htm</link>
				<description><![CDATA[
  The rules are in several publications and what the IRS calls `articles` on their website.
  &#160;
  There is reg 183.1 through 183.4 if you need to get techincal.
]]></description>
				<pubDate>Tue, 5 May 2009 1:14:36 GMT</pubDate>
				<guid>http://www.startupnation.com/community/orca/topic/A-home-business-tax-question.htm#749049</guid>
			</item>
			<item>
				<title><![CDATA[
  Thanks, Ken
  &#160;
  Do ]]></title>
				<link>http://www.startupnation.com/community/orca/topic/A-home-business-tax-question.htm</link>
				<description><![CDATA[
  Thanks, Ken
  &#160;
  Do you by chance know of an IRS reg that cites this.&#160; I`d like to be able to use this to make my accountant feel more at ease.
  &#160;
  Mark
  &#160;
]]></description>
				<pubDate>Tue, 5 May 2009 1:14:36 GMT</pubDate>
				<guid>http://www.startupnation.com/community/orca/topic/A-home-business-tax-question.htm#749048</guid>
			</item>
			<item>
				<title><![CDATA[
  Actually, this guy is taking]]></title>
				<link>http://www.startupnation.com/community/orca/topic/A-home-business-tax-question.htm</link>
				<description><![CDATA[
  Actually, this guy is taking a conservative approach
  &#160;
  An activity is presumed for profit if it makes a profit in at least three of the last five tax years.&#160; The IRS guidelines do not state that NOT making a p]]></description>
				<pubDate>Tue, 5 May 2009 1:14:36 GMT</pubDate>
				<guid>http://www.startupnation.com/community/orca/topic/A-home-business-tax-question.htm#749047</guid>
			</item>
			<item>
				<title><![CDATA[
  Greetings everyone.&#160; I`]]></title>
				<link>http://www.startupnation.com/community/orca/topic/A-home-business-tax-question.htm</link>
				<description><![CDATA[
  Greetings everyone.&#160; I`m hoping someone can confirm or debunk what my tax guy is telling me.&#160; My wife has a home based embroidery business and we have been claiming it on our personal income taxes for the past&#160;four years.&#160; My t]]></description>
				<pubDate>Tue, 5 May 2009 1:14:36 GMT</pubDate>
				<guid>http://www.startupnation.com/community/orca/topic/A-home-business-tax-question.htm#749046</guid>
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