Yikes! All The Facts And Circustances?
Perhaps you’re saying it’s simple. It can’t be that hard to say whether Doug can go to Vietnam to get pictures of motorcyles for use in a picture book and deduct the costs? If you can’t answer, Walt, you don't know squat.
Okay, that’s fair; I’ll give you an answer.
Yes, he can.
How’s that? Is that what you wanted to hear?
But the answer could also be “no.”
Or “maybe.”
You see, it depends. It’s as simple as that, and as difficult. Federal income taxes are complicated.
If you think otherwise, you are naïve. Don’t be.
The answers involving federal taxation pertaining to “expression activities,” whether your expression is made as a journalist, a painter, a book designer, woodworker, fiction writer, poet, or any other way you may express or intend to express yourself are based upon the premise that all of the facts and circumstances and applicable law have to be considered.
I hear you groaning. Suck it up.
You can't skim the surface. Such would leave you in the lurch if your tax benefits are challenged by the IRS. If you don't consider all the details, it will leave you scratching your head wondering what to do if a revenue agent or auditor alleges that you owe thousands of dollars more in taxes, interest, and perhaps even penalties. Of course, you can dabble in an expression activity, sticking a toe in to see if the water is frigid or not. But if you really want to know you have to take the plunge. So be prepared.
Most people read a mystery for the intrigue, to find out who did it and to figure things out as they go. It certainly doesn’t hurt if the mystery is masterfully written, with an elegance of expression, and is entertaining. In any case, readers don’t want the answers to a mystery all up front or there’s little reason to keep reading.
People enjoy art for similar reasons. The art they afford for themselves is acquired to enjoy its subtleties over the long haul.
If finding out whether your expression activity can be less taxing isn’t mystery enough for you, doesn’t have adequate subtlety, and the knack of the telling isn’t captivating enough for you, please don’t stick with me. You’ll possibly be disappointed if you read on under those circumstances.
Also, if you’re experienced in the business of expression, already making scads of money and are well established and skilled, maybe what I have to say isn’t for you either. (However, maybe you’ll enjoy comparing what you’ve done with what I suggest and pick up some pointers, too.) In any event, if you decide not to read on, maybe you know somebody on the cusp of great things that could benefit from this information.
Okay, that’s fair; I’ll give you an answer.
Yes, he can.
How’s that? Is that what you wanted to hear?
But the answer could also be “no.”
Or “maybe.”
You see, it depends. It’s as simple as that, and as difficult. Federal income taxes are complicated.
If you think otherwise, you are naïve. Don’t be.
The answers involving federal taxation pertaining to “expression activities,” whether your expression is made as a journalist, a painter, a book designer, woodworker, fiction writer, poet, or any other way you may express or intend to express yourself are based upon the premise that all of the facts and circumstances and applicable law have to be considered.
I hear you groaning. Suck it up.
You can't skim the surface. Such would leave you in the lurch if your tax benefits are challenged by the IRS. If you don't consider all the details, it will leave you scratching your head wondering what to do if a revenue agent or auditor alleges that you owe thousands of dollars more in taxes, interest, and perhaps even penalties. Of course, you can dabble in an expression activity, sticking a toe in to see if the water is frigid or not. But if you really want to know you have to take the plunge. So be prepared.
Most people read a mystery for the intrigue, to find out who did it and to figure things out as they go. It certainly doesn’t hurt if the mystery is masterfully written, with an elegance of expression, and is entertaining. In any case, readers don’t want the answers to a mystery all up front or there’s little reason to keep reading.
People enjoy art for similar reasons. The art they afford for themselves is acquired to enjoy its subtleties over the long haul.
If finding out whether your expression activity can be less taxing isn’t mystery enough for you, doesn’t have adequate subtlety, and the knack of the telling isn’t captivating enough for you, please don’t stick with me. You’ll possibly be disappointed if you read on under those circumstances.
Also, if you’re experienced in the business of expression, already making scads of money and are well established and skilled, maybe what I have to say isn’t for you either. (However, maybe you’ll enjoy comparing what you’ve done with what I suggest and pick up some pointers, too.) In any event, if you decide not to read on, maybe you know somebody on the cusp of great things that could benefit from this information.
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