Small Business Versus Hobby
How's that old saying go? "Nothing is certain except death and taxes." But... what if you're not certain about what those taxes are on? More and more, people are engaging in hobby activities that turn into a source of income. It can be confusing to determine whether or not that hobby has become a taxable business that generates expenses. To avoid hefty bills or legal issues, the IRS needs to know exactly what kind of operation you're running. Read on to determine if your hobb