Unfortunately, I failed to mention that last week was also Teacher Appreciation Week. My sister-in-law Nicole, who is a special education teacher, reminded me of my slip-up after receiving the Mother's Day/Nurses Day reminder email. I'd like to take a moment to show personal appreciation for all teachers who have the power and patience to educate our children each day, and also for strong women like Nicole for keeping me in check when I forget to express this gratitude.
Over the years, there have been many amazing teachers who have influenced me. Without them, I doubt I would be in the position I am today. The impact of a teacher is profound and always ongoing. I benefit from their guidance even now as I continue to work alongside many amazing educators at my own practice. To those educators, I hope you understand how immensely grateful I am for the support you provide to our children, myself, and this company.
On the topic of gratitude, I know I have mentioned my appreciation for your outpouring of love and support following my fathers passing, but I would like to take the chance to remind you again how much it truly means to me. Your collective show of compassion has been a key to my healing process and has made a world of difference. It brings me so much joy knowing I have such a strong support system, and I hope to reciprocate this strength and support to you all wherever I am able.
Big Sur, California
“The most difficult thing is the decision to act, the rest is merely tenacity.”
– Amelia Earhart
Starting a New Hobby? These Tips Can Help You Understand the Tax Situation
Whether you're picking up painting or cooking up new concoctions in your kitchen, starting a new hobby is always fun and a great way to learn something new. Did you know that there are also some tax considerations when starting a new hobby? Especially if you are considering turning your newfound passion into a business.
Taxpayers are expected to report any income earned from hobbies, even if it's not a licensed business. To compare, businesses are done to make a profit, while hobbies are done for recreation, not to make a profit. Here are nine factors that can help you determine whether a hobby could also be considered a business, according to the IRS:
You may also be able to deduct some of the expenses associated with your hobby. Within certain limits, taxpayers can usually deduct ordinary and necessary hobby expenses. An ordinary expense is one that is common and accepted for the activity. A necessary expense is one that is appropriate for the activity.
* This information is not intended to be a substitute for specific individualized tax advice. We suggest that you discuss your specific tax issues with a qualified tax professional.
Tip adapted from IRS.gov8
3 Stretches for Your Lower Back
We spend so much time sitting in our cars and at our desks that it's no wonder that our lower backs can get tight and even sore. These three lower back stretches will help improve flexibility, recovery, and may even help if you have lower back pain.
Tip adapted from Very Well Fit9
I'm tall when I'm young and short when I'm old. What am I?
Last week’s riddle: Forward I am heavy, but backward I am not. What am I? Answer: The word “ton” backward is the word “not.”
Footnotes and Sources
1. IRS.gov, January 19, 2021
2. Verywellfit.com, September 22, 2020
Please consult your financial professional for additional information.
This content is developed from sources believed to be providing accurate information. The information in this material is not intended as tax or legal advice. Please consult legal or tax professionals for specific information regarding your individual situation. This material was developed and produced by FMG Suite to provide information on a topic that may be of interest. FMG is not affiliated with the named representative, financial professional, Registered Investment Advisor, Broker-Dealer, nor state- or SEC-registered investment advisory firm. The opinions expressed and material provided are for general information, and they should not be considered a solicitation for the purchase or sale of any security.
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