I thought after 3 years it was a hobby :-)

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Post #101,753

by boxley

5/13/03 9:12:17 PM

I thought after 3 years it was a hobby :-)

will work for cash and other incentives [link|http://home.tampabay.rr.com/boxley/resume/Resume.html|skill set]

questions, help? [link|mailto:pappas@catholic.org|email pappas at catholic.org]

Carpe Dieu

Post #101,775

by Andrew Grygus

5/14/03 12:38:02 AM

As long as you show a clear intent . .

. . to make money, and consistently strive to do so, you can lose money forever without IRS shutting you off. If, however, you claim your race horse as a business, and don't race him much, the IRS is going to declare him a hobby in three years.

In Microsoft's case, they're making money on the business of Microsoft Inc., which XBox is part of, so no IRS problem.

[link|http://www.aaxnet.com|AAx]

Post #101,798

by folkert

5/14/03 8:41:20 AM

Aww....

Shoot, I thought maybe the IRS would force M$ to make it a hobby... shucks.

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Post #101,809

by drewk

5/14/03 9:39:03 AM

What if you *deliberately lose* money?

What if you formulate a business plan to intentionally lose money in order to gain a market position. Isn't this advertising, not operating loss?

===

Implicitly condoning stupidity since 2001.

Post #101,855

by boxley

5/14/03 2:08:40 PM

either way it is an expense and deductable

Post #101,911

by orion

5/14/03 6:38:17 PM

Read "Catch-22" reference Milo Minderbender

He sold eggs to the US Army at a price cheaper than he bought them. He actually claimed that it made him money. Old Milo must be in charge of the Microsoft Entertainment division.

"If you're going to cheat, cheat fair. If there's anything I hate it's a crooked crook!" -Moe Howard

Microsoft Entertainment divison stumbles, awwww. - (folkert) - (17) - May 13, 2003, 05:57:30 PM EDT

A good way to write off the taxes on the loss - (orion) - (7) - May 13, 2003, 07:42:00 PM EDT

Almost below cost? - (Andrew Grygus) - (6) - May 14, 2003, 12:19:39 AM EDT

I heard that a little differently. - (static) - (5) - May 14, 2003, 07:46:21 AM EDT

Note on your .sig - (jake123) - (1) - May 14, 2003, 09:38:51 AM EDT

Yep. - (static) - May 15, 2003, 07:53:18 AM EDT

Gord comments on PS2 profits - (SpiceWare) - (2) - May 14, 2003, 11:38:18 AM EDT

See, I was right . . - (Andrew Grygus) - May 14, 2003, 05:12:20 PM EDT

That would be it. - (static) - May 15, 2003, 07:50:53 AM EDT

I thought after 3 years it was a hobby :-) -NT - (boxley) - (5) - May 13, 2003, 09:12:17 PM EDT

As long as you show a clear intent . . - (Andrew Grygus) - (4) - May 14, 2003, 12:38:02 AM EDT

Aww.... - (folkert) - (3) - May 14, 2003, 08:41:20 AM EDT

What if you *deliberately lose* money? - (drewk) - (2) - May 14, 2003, 09:39:03 AM EDT

either way it is an expense and deductable -NT - (boxley) - May 14, 2003, 02:08:40 PM EDT

Read "Catch-22" reference Milo Minderbender - (orion) - May 14, 2003, 06:38:17 PM EDT

XBox price slashed $20USD - (orion) - (1) - May 16, 2003, 11:51:27 AM EDT

You mean: Losing more than the did before per X-Box! -NT - (folkert) - May 16, 2003, 11:54:25 AM EDT

Microsoft also muffed it with Electronic Arts. - (a6l6e6x) - May 18, 2003, 11:19:21 PM EDT

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