Mention was made that three out of five previous years had to be profitable.
When I was in business, horse breeding and mining and a third, IIRC, were
only two out of five. Of course the IRS codes change with the relative
humidity, so who knows now.

But, knowing deductions, and knowing them well can be berry berry profitable
to a taxpayer. You just have to know the ropes, tapdance inside the lines,
and keep damn good records.

And stay away from the gray areas that they seem to be sensitive about.

We came out smelling like a rose this year.

Steve, no sig. You guys know where to get a book if you want one.