MARY KAY: Business or Hobby? What the IRS Thinks…

You may think of your Mary Kay, Pampered Chef or Avon business as a, well, business… but does the IRS?
Tax Resolutionaries reports on an important tax ruling that could affect you and your business.  Or hobby:
Ladies, this is one that you need to take great heed from. Before you invest in all those Pampered Chef, cosmetic sales and even “pleasure toy” shows, you might want to talk with Brenda Konchar, a Mary Kay Cosmetics representative who took her case before the Tax Court in Ralph D. Konchar, et ux. V. Commissioner, Tax Court Summary Opinion 2004-59.
Brenda Konchar reported net losses …read more