: About Me

Having worked in the tax preparation field as a senior tax adviser for more than a decade I have a wealth of experience in researching and interpreting the federal income tax code. I write and lecture frequently on tax tips for writers, crafters & artisans, women and select other groups. I have selectively published poems on the web and am currently at work on my first Romantic Suspense novel. I am a member of the Romance Writers of America, Windy City Chapter in Chicago.

You can also visit me at the following places on the web:

http://womenmoneymadness.blogspot.com/
http://sleepingwiththeauthor.blogspot.com/
http://therapy-101.blogspot.com/
www.myspace.com/tvmstone

Please come by for a visit.

Business > Small & Home Business Home business and taxes

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IRS Three-out-of-five-year Profit Rule - Fact or Myth? For decades the word has spread that if a small business, primarily in the form of a Schedule C (Sole Proprietorship), doesn't show a profit in three out of five years then the IRS will automatically audit that business and subject it to all kinds of financial punishments. The question - is this true, or is this a myth? The answer - it's mostly a myth with an element of truth. The reason - it's often misinterpreted and taken out of context. In all the years I worked as a senior tax advisor, at least once every tax season I would be con...

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