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	<title>ABC Taxes, Tips &#38; Tools &#187; BP Oil Spill</title>
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		<title>BP Victims Receiving Payments-It’s Taxable</title>
		<link>http://artandbusinessconsulting.com/blog/2010/07/bp-victims-receiving-payments-its-taxable/</link>
		<comments>http://artandbusinessconsulting.com/blog/2010/07/bp-victims-receiving-payments-its-taxable/#comments</comments>
		<pubDate>Wed, 14 Jul 2010 02:07:17 +0000</pubDate>
		<dc:creator>Jake Beckman EA</dc:creator>
				<category><![CDATA[Business Taxes]]></category>
		<category><![CDATA[Other Information]]></category>
		<category><![CDATA[BP Oil Spill]]></category>
		<category><![CDATA[BP payments]]></category>
		<category><![CDATA[tax help]]></category>
		<category><![CDATA[tax implications]]></category>
		<category><![CDATA[taxable income]]></category>
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		<description><![CDATA[There is no such thing as a free lunch.  If you are a business affected by the BP oil spill and receive money to replace income or profits, that is taxable income folks.  It’s replacing money that would have been taxed so… If you are a self-employed proprietor, then you also owe self-employment tax on [...]]]></description>
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