How the IRS Views You: Home Business or Hobby?

How the IRS Views You: Home Business or Hobby? - http://investorjunkie.com Avatar Posted by MMarquit under Startups
From http://investorjunkie.com 3634 days ago
Made Hot by: Algernon00ps on June 18, 2012 12:28 am
Many budding entrepreneurs are interested in the ability to take a tax deduction for expenses related to home business activities. Even hobbyists can claim deductions on their tax returns. You need to know the difference.





Comments


Written by HeatherStone
3632 days ago

The way the IRS views your business activity, as a hobby or a legitimate business able to deduct for business expenses, is dependent on a couple of factors and it's very important to understand these in order to really appreciate what legally constitutes a business.



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Share your small business tips with the community!
Share your small business tips with the community!
Share your small business tips with the community!