All Things Taxes

Business or hobby?

JK Harris | January 12, 2009

According the IRS, if your favorite activity makes a profit every year or so, there might be tax issues that you are not aware of. The IRS defines a hobby as a not-for-profit activity; something that is recreational and is not pursued for profit. Your activity could be considered a business if it is carried [...]

Category: Tax Alerts, Tax Problems | No Comments »
Tags: avoid tax problems, hobby vs business, IRS

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