The 2010-11 is a tax season to beat all tax seasons. “This year has brought us some of the most interesting tax changes we’ve seen in years—at least interesting to us tax accountants,” says Vern Hoven, CPA, EA and CPE Link instructor, who specializes in demystifying tax legislation.

Who can keep up with all the changes? In the continuing saga of Tax Update Adventures, our hero, Super Tax Preparer, takes on general business updates.

A teashop owner also collects and sells vintage teapots. Is her collecting activity a business or a hobby? Is she engaged in a unified business enterprise? Super Tax Preparer figures it out.

A film writer, director, and producer amasses an extensive collection of materials, including books, magazines, and photos related to the life a famous person, about whom he plans to make a movie. Since these items deteriorate over time, he wants to depreciate them. Super sets him straight.

Leonard wants to buy an SUV for his Ski Lodge business. Should he do it now or wait until January 2012? He’s thinking of a GMC Yukon or a Ford Excursion. Super Tax Preparer has tax-saving information about expensing and depreciation rules that could help him decide.

Mary, a self-employed architect, and her husband Joe each paid $1,200 of Medicare B premiums in 2011. In addition they each paid $3,000 of Medigap insurance premiums to AARP in 2011. Can Mary deduct $8,400 as self-employed health insurance? Super knows the answer.

These and millions more tax adventures await the special powers of our hero.

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