HOBBY HORSE

摘要

You can save money by turning an avocation into a business Personal injury lawyer susan E. Loggans has earned millions in contingency fees and has also turned a profit building, decorating and flipping her homes. (Her Fort Lauderdale estate is on the market for $15 million.) Yet when Loggans, an accomplished horsewoman, decided to breed, show and sell horses, she lost money-$1.6 million over six years, which she wrote off against other income. The Internal Revenue Service demanded $620,000 in back taxes and penalties, plus interest.