Is it a Business or a Hobby?

Is it a Business or a Hobby?

As tax season approaches, it is important to know the different ways an individual can create a source of income. One of the questions tax accountants ponder is whether or not self-employment income is considered business income or just a hobby. Here are a few ways to determine whether or not someone’s income is for a hobby or not.

For more information on this topic, click here.

Submitted by: Aaron Litrtle

Source: Internal Revenue Service

 

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