| All of that is well and good, but it doesn't change the bottom line - even for seniors. A 'cost-benefit' analysis of some sort should still be done to figure out whether or not this could be done profitably. It should be kept in mind, too, that if someone truly is just doing this as a hobby, and if they don't make a profit (I think within at least 3 years, but check with your CPA), then none of the expenses are tax deductible. |
