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Are You a Business Owner or Hobbyist? Many of us would like to turn our hobby into a regular business. That's fine as long as the business turns a profit. And, it may be fine as well if the business produces a loss and you enjoy the activity; even better if the loss can offset income from your day job.   Plug-in Electric Vehicle Credit Electric-powered vehicles are receiving a great deal of attention lately because of the high cost of gasoline. These vehicles should be available to consumers for purchase within the next few years.   Retaining Tax Information and Records Retaining and storing your income tax information and records is an important final step of your tax filing responsibility. This article contains information on the rules for keeping your tax records.