If you, like me, are a nine-to-fiver and a part-time entrepreneur, the IRS is not going to congratulate you for your hard work, but they will take their cut. Did your side-gig take a loss last year?

You may be able to deduct that loss and beef up any refund you are owed. But be careful: Deduct a business loss for more than a couple years in a row and you may be flagged for a painful audit.

The IRS has recently caught on to taxpayers utilizing self-defined business losses to reduce their total income and, subsequently, their tax liability. As a result, the IRS has instituted the so-called hobby loss rule.

There is no way to easily distinguish between a for-profit business and a not-for-profit hobby. Whether you are a photographer who shoots weddings, a musician who plays a few gigs, or a blogger with advertising revenue, whether you earn $1 a year or $100,000, your side work could be considered either: a business, or a hobby. [...]

So, you think you want to be filthy rich? Thirty year-old Alan Corey had the same dream, and in his new book, A Million Bucks by 30, he explains exactly how he went from average Joe to a millionaire before his thirtieth birthday. [...]

Yesterday I purchased the personal finance page at MillionDollarWiki.com. What is it, and why did I buy it? [...]

What does it take to become a millionaire? Lottery winners aside, becoming wealthy has nothing to do with luck. Let’s look at 10 ten habits of self-made millionaires. Some ideas featured here are from the book The Millionaire in You by Michael LeBoeuf. Others come from millionaires I know, and they are living proof that these habits will make you millions.

1. Millionaires Are Frugal: The wealthiest people I know are also the cheapest. They buy used cars for reliability, not image. (According to the book The Millionaire Next Door, the number one car brand among millionaires is Toyota—not Mercedes or BMW!) Millionaires pack their lunches. It takes money to make money, and you can’t get the money you need to invest if you spend it.

2. Millionaires Think Big: Few people are surprised when they make their first million. After all, it doesn’t come easily. But long before reaching their goal, millionaires know they want to get there. Rather than looking forward to an annual 3% raise, millionaires dream of working for themselves. Rather than serving 100 customers, millionaires see tens of thousands of accounts.

3. Millionaires Take Calculated Risks: Whether it’s investing in a stock or cashing in a 401(k) to start a business, millionaires take calculated risks. In these risks, the rewards of success are far greater than the costs of failure, and the chances of success are good.

4. Millionaires Network: Few people reach their potential alone. Millionaires build powerful networks of contacts in all areas of life. Millionaires know that their next employer, customer, or partner may be anywhere.

5. Millionaires Don’t Pay Interest, They Earn It: Millionaires learn the crippling costs of debt and avoid it at all costs. On the contrary, millionaires save, invest, and even lend money to others to earn interest themselves. Want to take the first step to building your own fortune? It’s simple: Open an online savings account now and start stashing away extra money—automatically—every month.

6. Millionaires Are Focused: Millionaires work feverishly towards their goals at all costs. The difference between dreamers and performers is not the number of ideas one has, but how one focuses on executing the best ideas.

7. Millionaires Do Whatever It Takes: The most inspiring success stories among all the people I know involve incredible sacrifice. From sleeping in cars between two jobs to forgoing personal relationships to get an education or build a business, millionaires don’t simply delay gratification; millionaires endure pain.

8. Millionaires Educate Themselves: It doesn’t take an Ivy League education to become a millionaire, but it does take a desire to learn. It doesn’t matter how you learn – from a mentor, night classes, or books and the web – but ongoing learning is critical to lifelong success.

9. Millionaires Lead: No surprise here, the same qualities enabling people to earn millions make them natural leaders. It goes back to the decision to become a millionaire in the first place: The resolution to carve a new path rather than follow the flock.

10. Millionaires Are Generous: Don’t expect your high-rolling neighbor to shower you with gifts. Chances are she’s donating to far worthier causes. It’s just another perk of having a million in the bank: you get to make a substantial difference in charities of your choice.

Back in April I wrote a post called “One Year of Personal Finance Blogging Mistakes” reflecting on some of the lessons I learned about starting a blog. Now it’s time to look at what I seem to be doing well. [...]

Think you’ve got a winning business idea? Let me prove you wrong. (But trust me, this will help you). [...]

I’ve always had a tinge of entrepreneurial optimism, if not the business sense to back up my creativity. Though I always stopped short of schemes and scams, here the five most asinine ways I’ve tried to make a buck. What are yours? [...]

This month, I celebrate one year as a personal finance blogger. Last night, I was thinking: I’ve made a lot of mistakes in a year, but still things are coming along. Here’s a list of my blogging mistakes, and what you can learn from them (even if you don’t have a blog!) [...]

You can’t get rich quick, but follow these ten proven steps to success today and you will find wealth sooner than you think. It’s working for me, and it can work for you. [...]

I am pleased to present a simple and totally free budget spreadsheet that can be used to quickly and easily plan how much you can spend each month.

Using the spreadsheet is easy. First, gather your paystubs and enter your monthly income. Next, collect a month’s worth of bills and receipts. Enter the monthly amounts in the appropriate categories, estimating any value that fluctuates from month-to-month.

Once you have entered all the values, the spreadsheet will tell you how much you will have left at the end of the month to save or put towards debt. The spreadsheet will also tell you how close you are to an ideal income allocation. Such allocation models are frequently used by banks and other lenders for determining your financial balance. Feel free to try the spreadsheet today using the download link below.

The Original Free Budget Spreadsheet (Version 2) This spreadsheet for Excel 97-2003 or 2007 automatically calculates how much you have left to spend in your monthly budget categories as you input spending on a calendar-like grid. Download for Excel 2007 (.xlsx) Download for Excel 97-2003 (.xls)

The Really Simple Budget Worksheet If you don’t want to spend a lot of time with your budget, sometimes all you need is a quick chart to jot down about what you’ll spend each month. Sound about right? Then this one-page, super-simple worksheet is for you. Download in Adobe PDF (for Printing)

Need a more powerful budgeting solution? Discover and learn more about budgeting with Quicken Deluxe, the world’s leading personal finance software.