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Here’s How to Tell the Difference Between a Hobby and a Business for Tax Purposes
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Here’s How to Tell the Difference Between a Hobby and a Business for Tax Purposes

IRS, Personal Finance, Personal Taxes, Self-Employed, Tax Tips, Taxes

Here’s How to Tell the Difference Between a Hobby and a Business for Tax Purposes

This article was published by the IRS. A hobby is any activity that a person pursues because they enjoy it and with no intention of making a profit. People operate a business with the intention of making a profit. Many people engage in hobby activities that turn into a source of income. However, determining if that [...]