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,
+ more bio informationIRS 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... More..
Teresa Stone
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