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Taxable Income from your Pet? [Video]

Taxable Income from your Pet?

Does your pet generate taxable income?

Whether your dog appears in movies, you breed and sell tarantulas, or your cat is an influencer that brings in YouTube revenue, you need to watch out for the IRS.

The IRS might try to classify this activity as a hobby per Section 183, in which case all the income would be taxable and none of the expenses would be deductible.

Thus, you need to show that this is a business, not a hobby.

If it’s a business, then you deduct expenses of that business on Schedule C.

If you can show that you’ve earned a profit in 3 of the past 5 years (2 of the last 7 years for activities involving horses), the IRS will presume it’s a business and not a hobby.

You can also show that it’s a business by keeping accurate records and trying to earn a profit, rather than engaging in the activity simply for recreation.


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Resources for Accountants

IFRS CPE Courses [Video]

Check out our IFRS CPE at - https://www.cpethink.com/ifrs-cpe-for-cpasToday, we're going to go over the IFRS CPE courses for CPAs course list on CPE think.com. IFRS, which stands for International Financial Reporting Standards refers to a set f International Accounting Standards in a global economy that US companies sometimes need to be aware of and how they compare to GAAP. We have 16 courses that deal with IFRS issues. We have comparison courses, business combination of several that we have a series here of seven courses that a lot of people have a lot of positive feedback on. We've got a comparison course here real short one, US GAAP versus IFRS new guidelines, new lease accounting standards and how that applies or how IFRS fits into that. And then US GAAP and IFRS revenue recognition and business combinations. Any questions? Click the chat bubble down in the lower right. Let us know. To Contact Us please go to https://www.cpethink.com/contact-us or just open a chat on any page on our site.

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Inspiring Short Stories | The House with the Golden Windows | Motivational & Inspirational Video [Video]

The House with the Golden Windows. Inspiring short stories. Motivational & inspirational video. Best short inspirational videos. Inspirational quotes about life and love.The motivational stories and famous anecdotes presented in this video are excerpts from our book: Top 100 motivational stories: the best inspirational short stories and anecdotes of all time. Get the book here: https://www.bizmove.com/inspiration/m9b.htm

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5 Best Sports Betting Apps ★ 2022 | Online Sports Betting Tips [Video]

Discover the best 5 sports betting sites and apps. Here’re our picks for the 5 best sports betting sites, apps and sportbooks: 1. Bovada (bonus: $750): https://record.revenuenetwork.com/_4FiJyM5mQu397H-d5Ks7MGNd7ZgqdRLk/1/ 2. BetUS (Bonus: up to $2500): https://record.revmasters.com/_GDJId2cL3emhvo5nC3tZQ2Nd7ZgqdRLk/1/ 3. XBet (Bonus: up to $500): https://record.webpartners.co/_pI3eS84syUppj9fKdCJ9umNd7ZgqdRLk/1/ 4. BUSR (Bonus: up to $1000): https://record.webpartners.co/_pI3eS84syUrYGgllr3Vm5GNd7ZgqdRLk/1/ 5. MyBookie (Bonus: double first deposit): https://record.webpartners.co/_pI3eS84syUo-tw2NZ2I77WNd7ZgqdRLk/1/One of the most critical factors in sports betting success is finding the right sportsbook to bet at. Problem is, there are so many of them. It’s easy to lose time scanning the net for sports betting sites, time which could be better spent winning a few bucks on tonight’s game. Now, to help you quickly find the betting site best suited to your needs, we have tried and evaluated dozens of sites to come up with a list of 5 top sports betting sites. The above are our picks for the 5 best sports betting sites, apps, and sportsbooks. Note that we may earn a small commission from some of the links at no additional cost to you to help support this channel.

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Inspiring Short Stories | The Angry Father [Video]

The Angry Father. Inspiring short stories. Motivational & inspirational video. Best short inspirational videos. Inspirational quotes about life and love. The motivational stories and famous anecdotes presented in this video are excerpts from our book: Top 100 motivational stories: the best inspirational short stories and anecdotes of all time. Get the book here: https://www.bizmove.com/inspiration/m9b.htm