Tag Archives: IRS Publication 535

Hobby or Business? IRS Offers Tips to Decide

The following article was published by the IRS. Millions of people enjoy hobbies that are also a source of income. From catering to cupcake baking, crafting homemade jewelry to glass blowing — no matter what a person’s passion, the Internal … Continue reading

Posted in IRS, Personal Finance, Personal Taxes, Planning Strategies, Self-Employed | Tagged , , , ,

Four Basic Tax Tips about Hobbies

The following article was published by the IRS. Millions of people enjoy hobbies that are also a source of income. Some examples include stamp and coin collecting, craft making, and horsemanship. You must report on your tax return the income … Continue reading

Posted in IRS, Personal Finance, Personal Taxes, Self-Employed, Tax Tips | Tagged , , , ,