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Subject: [M]: Re: Re: Re: Re: Re: mapug-digest V1 #5459
From: James Marsden
Reply To: mapug@shore.net
Date: Thu Feb 19 00:55:53 2004
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This is a multi-part message in MIME format.
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Doc,
the general rule of thumb is that if you spend more on the hobby than =
you derive from it, then it is not a business and the income is not =
taxable. But if you do make a profit then it should be declared. This =
may explain why the talented imagers' equipment is constantly being =
upgraded. They 'have' to spend money. It must be tough!
Randy Marsden
----- Original Message -----=20
From: R. A. Greiner=20
Sent: Wednesday, February 18, 2004 8:59 PM
Subject: [M]: Re: Re: Re: Re: mapug-digest V1 #5459
There are a lot of the better private party astrophotographers who =
sell prints. I do not know about the tax implications of such =
activity. Perhaps there is a tax expert on mapug who could answer that =
question.
Doc G
----- Original Message -----=20
Sent: Wednesday, February 18, 2004 10:42 PM
Subject: [M]: Re: Re: Re: mapug-digest V1 #5459
I would bet that very few who sell images make any significant =
money, especially if they place any value on their time. What the print =
sales are all about is positioning for tax write-offs of equipment and =
supplies which is legitimate if you "have a reasonable expectation of =
making a profit" as opposed to engaging in a "hobby loss". A =
cardiologist netting a seven figure income from his medical practice =
really doesn't have to sell astro prints to get by :-)
Andy
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<HTML><HEAD>
<META http-equiv=3DContent-Type content=3D"text/html; =
charset=3Diso-8859-1">
<META content=3D"MSHTML 6.00.2800.1276" name=3DGENERATOR>
<STYLE></STYLE>
</HEAD>
<BODY style=3D"FONT-SIZE: 10pt; FONT-FAMILY: Arial; BACKGROUND-COLOR: =
#ffffff"=20
bgColor=3D#ffffff>
<DIV>Doc,</DIV>
<DIV> </DIV>
<DIV>the general rule of thumb is that if you spend more on the hobby =
than you=20
derive from it, then it is not a business and the income is not =
taxable. =20
But if you do make a profit then it should be declared. This may =
explain=20
why the talented imagers' equipment is constantly being =
upgraded. They=20
'have' to spend money. It must be tough!</DIV>
<DIV> </DIV>
<DIV>Randy Marsden</DIV>
<BLOCKQUOTE dir=3Dltr=20
style=3D"PADDING-RIGHT: 0px; PADDING-LEFT: 5px; MARGIN-LEFT: 5px; =
BORDER-LEFT: #000000 2px solid; MARGIN-RIGHT: 0px">
<DIV style=3D"FONT: 10pt arial">----- Original Message ----- </DIV>
<DIV=20
style=3D"BACKGROUND: #e4e4e4; FONT: 10pt arial; font-color: =
black"><B>From:</B>=20
Greiner</A> </DIV>
<DIV style=3D"FONT: 10pt arial"><B>Sent:</B> Wednesday, February 18, =
2004 8:59=20
PM</DIV>
<DIV style=3D"FONT: 10pt arial"><B>Subject:</B> [M]: Re: Re: Re: Re:=20
mapug-digest V1 #5459</DIV>
<DIV><BR></DIV>
<DIV><FONT face=3D"Times New Roman" size=3D3></FONT> </DIV>
<DIV><FONT face=3D"Times New Roman" size=3D3>There are a lot of the =
better private=20
party astrophotographers who sell prints. I do not know =
about the=20
tax implications of such activity. Perhaps there is a tax expert =
on=20
mapug who could answer that question.</FONT></DIV>
<DIV><FONT face=3D"Times New Roman" size=3D3></FONT> </DIV>
<DIV><FONT face=3D"Times New Roman" size=3D3>Doc G</FONT></DIV>
<DIV> </DIV>
<DIV>----- Original Message ----- </DIV>
<BLOCKQUOTE dir=3Dltr=20
style=3D"PADDING-RIGHT: 0px; PADDING-LEFT: 5px; MARGIN-LEFT: 5px; =
BORDER-LEFT: #000000 2px solid; MARGIN-RIGHT: 0px">
<DIV=20
style=3D"BACKGROUND: #e4e4e4; FONT: 10pt arial; font-color: =
black"><B>From:</B>=20
=
</DIV>
<DIV style=3D"FONT: 10pt arial"><B>To:</B> <A =
<DIV style=3D"FONT: 10pt arial"><B>Sent:</B> Wednesday, February 18, =
2004=20
10:42 PM</DIV>
<DIV style=3D"FONT: 10pt arial"><B>Subject:</B> [M]: Re: Re: Re: =
mapug-digest=20
V1 #5459</DIV>
<DIV><BR></DIV>
<DIV><FONT face=3D"Times New Roman" size=3D3>I would bet that very =
few who sell=20
images make any significant money, especially if they place any =
value on=20
their time. What the print sales are all about is positioning for =
tax=20
write-offs of equipment and supplies which is legitimate if you =
"have a=20
reasonable expectation of making a profit" as opposed to engaging in =
a=20
"hobby loss". A cardiologist netting a seven figure income from =
his=20
medical practice really doesn't have to sell astro prints to =
get by=20
:-)</FONT></DIV>
<DIV><FONT face=3D"Times New Roman" size=3D3></FONT> </DIV>
<DIV><FONT face=3D"Times New Roman" size=3D3>Andy</FONT></DIV>
<DIV><FONT face=3D"Times New Roman"=20
size=3D3></FONT> </DIV></BLOCKQUOTE></BLOCKQUOTE></BODY></HTML>
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