Tag: Daycare

Ask Jason, 3/9/12

Q: If I list 1099-K income hobby can I list equal expensives as I also buy for my hobby and spend more than I sell? A: The answer is not as simple as it sounds. First, you can deduct “cost of goods sold” (COGS) directly from hobby income — if you have legitimate COGS and […]

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Extreme Couponers; Charitable Deduction Issues; Summer Camp; Cell Phones as Listed Property — Ask Jason

DISCLAIMER: The answers to questions in this segment are intended to be general in nature and do NOT constitute tax advice. Please contact a tax advisor to discuss your unique situation. All of these questions have come from web visitors recently: Q: Do “extreme couponers” pay tax? A: Depends on what you mean by “tax.” […]

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