Taxes

Are you running a business or just a hobby? The difference between the two is not always clear-cut, but it’s essential to understand the distinction, especially regarding taxes. If you have a side hustle or a small business to turn into a full-time gig, you must operate it like a legitimate business. One of the main factors that determine whether the IRS considers your business a hobby or a for-profit enterprise is the intent to make a profit. If you … Continue reading “Is It A Business Or A Hobby?”