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Reload this Page Hobby-friendly CPA?
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Old 08-17-2010, 10:58 PM   #1
Caroline
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Default Hobby-friendly CPA?
I posted this in a national forum but I thought I would try a local one too. I hope that's not against any rules...

I've asked a couple of providers about this and didn't get much information. I have no idea what I would say to a random CPA about what I do so I would love it if someone could help me out with some names of known hobby-friendly CPA's, if such a thing exists. I'm looking for someone to pay, no bartering involved whatsoever.

I would really appreciate any advice! The IRS makes me really nervous...

Caroline
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Old 08-17-2010, 11:01 PM   #2
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too bad I can't have my friend help you, that would reveal too much about my personal life. she knows alot about me but not about this.....

sixx
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Old 08-17-2010, 11:04 PM   #3
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Ah sorry. Thank you Sixx!
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Old 08-18-2010, 06:36 AM   #4
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I'm not a CPA, but I am an accountant.
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Old 08-18-2010, 08:44 AM   #5
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I know one and will ask him to contact you!
Tess
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Old 08-18-2010, 10:45 AM   #6
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Good for you! You don't want to go down the way Al Capone and Heidi Fleiss did, for tax evasion..

Now, if only I could find a way to convince my CPA that my hobby expenses are deductible.
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Old 08-18-2010, 11:09 AM   #7
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You can... explain that you hire dancers or companions as a form of business entertainment and marketing.
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Old 08-18-2010, 11:12 AM   #8
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Quote:
Originally Posted by AustinBusinessTraveler View Post
You can... explain that you hire dancers or companions as a form of business entertainment and marketing.
I guess I need to start getting receipts then in case I get audited?
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Old 08-18-2010, 11:13 AM   #9
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Caroline, I have a few clients .. one in particular that has given me excellent advice and direction. He is an expert in his field. Give me a ring and I will put you in touch. -M
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Old 08-18-2010, 12:30 PM   #10
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Caroline, obviously I'm not farmiliar with your finances. But I think you are crazy to report $ gained through the hobby. At 20 years old, it wouldn't be too difficult to stay off the grid.
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Old 08-18-2010, 12:53 PM   #11
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Buy a safe, get a safety deposit box, hide very little in your mattress.......DON'T deposit large sums or stash it in your apartment........
Sorry......just had to throw that in......don't know what kind of advise you are looking for but be very careful the info you divulge........
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Old 08-18-2010, 05:08 PM   #12
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Here's an article with some more information and some pros and cons.

http://www.slate.com/id/2229094
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Old 08-18-2010, 05:34 PM   #13
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after checking out your showcase. I may have to add to your taxable income!...
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Old 08-18-2010, 07:12 PM   #14
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Be up front, report every penny, and sleep soundly. It's one less thing to worry about.

Blender... if you can't figure out how to "get" receipts for a cash transaction, you aren't trying hard enough.
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Old 08-18-2010, 08:26 PM   #15
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Thanks everyone! Great advice and thanks to everyone for the pm's and emails. I think I have enough info to start. BH - thanks for the link. It was a very informative read

I'll be leaving tax evasion to those wiser and wealthier than me, DI. As ABT said, I will rest more easily knowing the government won't come a-knockin'.
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