If an activity does not generate a profit in three out of five consecutive years, is it
Question:
If an activity does not generate a profit in three out of five consecutive years, is it automatically deemed to be a hobby? Why or why not?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 62% (8 reviews)
No it is not automatically deemed a hobby The other factors m...View the full answer
Answered By
Mario Alvarez
I teach Statistics and Probability for students of my university ( Univerisity Centroamerican Jose Simeon Canas) in my free time and when students ask for me, I prepare and teach students that are in courses of Statistics and Probability. Also I teach students of the University Francisco Gavidia and Universidad of El Salvador that need help in some topics about Statistics, Probability, Math, Calculus. I love teaching Statistics and Probability! Why me?
** I have experience in Statistics and Probability topics for middle school, high school and university.
** I always want to share my knowledge with my students and have a great relationship with them.
** I have experience working with students online.
** I am very patient with my students and highly committed with them
5.00+
1+ Reviews
10+ Question Solved
Related Book For
Federal Taxation 2018 Comprehensive
ISBN: 9780134532387
31st Edition
Authors: Thomas R. Pope, Timothy J. Rupert, Kenneth E. Anderson
Question Posted:
Students also viewed these Business questions
-
Why does it matter if an investment is, or is not, viewed as being a security?
-
If an economy does not start out at full employment, is it still true that a permanent change in fiscal policy has no current effect on output?
-
A backgammon player will be playing three consecutive matches with friends tonight. For each match, he will have the opportunity to place an even bet that he will win; the amount bet can be any...
-
Write out the first three terms in the expansion (x + y) 12 .
-
Find the trigonometric Fourier series coefficients for the waveform shown. Discuss.
-
A commercial refrigerator with refrigerant-134a as the working fluid is used to keep the refrigerated space at -35°C by rejecting waste heat to cooling water that enters the condenser at 18°C...
-
What are the total debits and total credits shown on the general journal report for adjusting entries? Total debits: Total credits:
-
The Dress4Less Company operates a chain of mens clothing stores that sells 10 different styles of inexpensive mens suits with identical unit costs and selling prices. A unit is defined as one suit....
-
Find the total amount in the compound interest account. $9000 is compounded semiannually at a rate of 7% for 18 years. $ GA (Round to the nearest cent.)
-
The medical community unanimously agrees on the health benefits of regular exercise, but are adults listening? During each of the past 15 years, a polling organization has surveyed Americans about...
-
Deductible business or investment expenses must be related to a profit-motivated activity. a. What are the factors used in determining whether an activity is profit-motivated? b. Why are these...
-
Because expenses incurred both in a business and for the production of investment income are deductible, why is it important to determine in which category a particular activity falls?
-
How can management and employees use statistical process control, statistical quality control, inspection, and quality circles to improve a firms products?
-
The prompt reporting of communicable diseases is necessary in order for states to protect citizens health by invoking the power to quarantine.
-
Timely reporting of drug interactions is necessary to help prevent harmful occurrences by those dispensing, prescribing, and taking the medication reported.
-
Match the following terms to their definitions: 1. Tells whether a company can pay all its current liabilities if they become due immediately 2. Measures a company's success in using assets to earn...
-
Senior abuse is less likely to be reported than child abuse, and proving senior abuse charges is often difficult. Types of senior abuse include abandonment, emotional or psychological abuse, physical...
-
In 2010, common stockholders received \($2\) per share in annual dividends. The market price per share for common stock was \($12.\) Compute the dividend yield for common stock.
-
Which type of substance is attracted by a magnetic field, a diamagnetic substance or a paramagnetic substance?
-
QUESTION 2 The CEO of Farisha Hijab Sdn Bhd insisted on further investigation to be carried out that he also required Mr Muaz to conduct the analysis of variance for the material and labour of the...
-
Several years ago, Bill acquired 100 shares of Bold Corporation stock directly from the corporation for $100,000 in cash. This year, he sold the stock to Sam for $35,000. What tax issues regarding...
-
Lucia, a single taxpayer, operates a florist business. She is considering either continuing the business as a sole proprietorship or reorganizing it as either a C corporation or an S corporation. Her...
-
In 2015, Dick, Evan, and Fran form Triton Corporation. Dick contributes land (a capital asset) having a $50,000 FMV in exchange for 50 shares of Triton stock. He purchased the land in 2013 for...
-
Net Present Value A project has estimated annual net cash flows of $10,000 for ten years and is estimated to cost $42,500. Assume a minimum acceptable rate of return of 20%. Use the Present Value of...
-
Shrey ASSIGNMENT 2) Each of the program budgets must be developed using the information below and using object classification numbers provided 1) This is a time-consuming assignment In your note...
-
Which of the following provisions of the CARES Act does California law conform to? a. Taxpayers were temporarily exempt from the early withdrawal penalty from 401(k) plans. b. There is a five-year...
Study smarter with the SolutionInn App