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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.   Housing Credit Information The National Association of Home Builders provides a comprehensive overview of the first-time homebuyer tax credit at www.federalhousingtaxcredit.com.   Sales Tax Write-offs for Vehicles and Motor Homes A provision in the recent Stimulus Act provides that qualified motor vehicle taxes are deductible as either an itemized deduction or as a component of the standard deduction.