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	<title>Minnesota Tax Lawyer, Attorney - Regan Tax Law &#187; Profit Motive</title>
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		<title>Professional Gamblers</title>
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		<pubDate>Tue, 22 Nov 2011 19:29:31 +0000</pubDate>
		<dc:creator>Tom Regan</dc:creator>
				<category><![CDATA[Profit Motive]]></category>
		<category><![CDATA[Professional Gamblers]]></category>

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		<description><![CDATA[In the State of Minnesota, many gamblers are interested in taking the extra steps to be treated as professional gamblers. In contrast to the treatment the gambler receives from the IRS, a non- professional gambler in Minnesota is subject to the Alternative Minimum Tax and, as a result, is not allowed his or her gambling [...]]]></description>
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		<title>Profit Motive: Activities Not Engaged In For Profit and &#8220;Hobby Losses&#8221;</title>
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		<pubDate>Fri, 13 Mar 2009 14:07:34 +0000</pubDate>
		<dc:creator>Mike O'Brien</dc:creator>
				<category><![CDATA[Profit Motive]]></category>

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		<description><![CDATA[Many taxpayers are fortunate enough to turn a hobby or an activity they are passionate about into a business. The IRS, however, too often determines that the taxpayer’s business is not a &#8220;real business&#8221; when the business loses too much money. While sometimes the IRS determination is right, many times the IRS will incorrectly re-characterize [...]]]></description>
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