He Spent $10,000 Turning His Black Belt Into a Second Career. The IRS Called It a New Profession, Not a Deduction.

He Spent $10,000 Turning His Black Belt Into a Second Career. The IRS Called It a New Profession, Not a Deduction.

The post He Spent $10,000 Turning His Black Belt Into a Second Career. The IRS Called It a New Profession, Not a Deduction. appeared first on 24/7 Wall St.. A Second Act on the Mat Picture a 64-year-old who has trained in martial arts for decades. He claimed Social Security at 62, but retirement never quite suited him. Now he wants to turn his black belt into a business of his own. Before opening the school, he spends roughly $10,000 on advanced…