Richard E Johnson & Associates

09/11/2022

04/03/2021

Happy Easter!

11/26/2020

Obituary for Richard E. Johnson, Sr.

Johnson, Richard, Sr. Age 89

Beloved husband of 65 years to the late Bernice D. (nee Rea)
Loving son of the late Walter and Kitty Johnson.
Cherished father of Debbie (John Prim) Johnson, Richard E. Jr. (Elaine Osborne), Johnson, Bobbie (Chris) Cooper, Mary (Perry) Cianci, Walter H. (Katherine) Johnson, and Caroline (John) Cozzi.
Proud grandfather of Jessica, Andrea, Corinne, Ryan, the late Richard III, Corrinne, Beth, Ronnie, Rebecca, Rayanne, Kevin, Danielle, Michael, Kathryn, Margaret, Tara, Maria, Zachary, Sabrina, Amanda, Tiffany and Jonathan.
Adored great grandfather of 38.
Loving great great grandfather of 4.
Beloved cousin of the late Michael McDonnell.

Extremely proud owner Richard E. Johnson Associates.

Services and Interment Private

In lieu of flowers, contributions may be made to Wreaths Across America Project 10255 Donna Drive, Dittmer, MO 63023 or Honor Flight Chicago 9701 W. Higgins Road Suite 310 Rosemont, IL 60018-4703 [email protected]

08/23/2019

The very beginning of Richard E Johnson & Associates began shortly after the wedding of our founders Richard and Bernice in 1952. Happy anniversary

07/29/2019

Arrangements for my grandson, Richard Johnson III, will be
Blake & Lamb
103rd and Cicero
Thursday 5pm Visitation
and 8pm Prayer Service

06/14/2019

Blast from the past...

02/04/2019

In addition to the telephone IRS scams, seniors now need to be aware that there are telephone social security scams. The caller ID says social security and actually has the SS 800 number, but be aware IT US NOT SS. LIKE THE IRS, SSA does Not telephone to inform you of a problem or a question. If you receive a call DO not GIVE ANY PERSONAL INFORMATION. Contact the inspector general.

11/23/2018

We at, Richard E. Johnson & family want to wish all of you a very happy Thanksgiving:

11/23/2017

IRS.gov

Help For Hurricane Victims
News Essentials

What's Hot

News Releases

IRS - The Basics

IRS Guidance

Media Contacts

Facts & Figures

Around The Nation

e-News Subscriptions
The Newsroom Topics

Multimedia Center

Noticias en Español

Radio PSAs

Tax Scams/Consumer Alerts

The Tax Gap

Fact Sheets

IRS Tax Tips

Armed Forces

Latest News
IRS Resources

Compliance & Enforcement News

Contact Your Local IRS Office

Filing Your Taxes

Forms & Instructions

Frequently Asked Questions

Taxpayer Advocate Service



Issue Number: IRS Tax Tip 2017-80

Five Things to Remember about Hobby Income and Expenses

From scrapbooking to glass blowing, many Americans enjoy hobbies that are also a source of income. A taxpayer must report income on their tax return even if it is made from a hobby.

However, the rules for how to report the income and expenses depend on whether the activity is a hobby or a business. There are special rules and limits for deductions taxpayers can claim for hobbies. Here are five things to consider:

Determine if the activity is a business or a hobby. If someone has a business, they operate the business to make a profit. In contrast, people engage in a hobby for sport or recreation, not to make a profit. Taxpayers should consider nine factors when determining whether their activity is a business or a hobby, and base their determination on all the facts and circumstances of their activity. For more about ‘not-for-profit’ rules, see Publication 535, Business Expenses.
Allowable hobby deductions. Taxpayers can usually deduct ordinary and necessary hobby expenses within certain limits:
Ordinary expense is common and accepted for the activity.
Necessary expense is appropriate for the activity.
Limits on hobby expenses. Taxpayers can generally only deduct hobby expenses up to the amount of hobby income. If hobby expenses are more than its income, taxpayers have a loss from the activity. However, a hobby loss can’t be deducted from other income.
How to deduct hobby expenses. Taxpayers must itemize deductions on their tax return to deduct hobby expenses. Expenses may fall into three types of deductions, and special rules apply to each type. See Publication 535 for the rules about how to claim them on Schedule A, Itemized Deductions.
Use IRS Free File. Hobby rules can be complex, and IRS Free File can make filing a tax return easier.