727·330·3500    ·    Denise Mensa-Cohen, Enrolled Agent    ·    Office Located in Clearwater, Florida
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Tax Tips for Hobbies that Earn Income

Millions of people enjoy hobbies such as stamp or coin collecting, craft making, and horse breeding, but the IRS may also consider them a source of income. As such, if you engage in a hobby that provides a source of income, you must report that income on your tax...
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Reporting Gambling Income and Losses

If you gamble, these tax tips can help you at tax time next year: Here’s what you need to know about figuring gambling income and loss. 1. Gambling income. Income from gambling includes winnings from lotteries, raffles, horse races, and casinos. It also includes...

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