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Posts tagged "hobby taxes"

Business or hobby: Here's how the IRS decides

From arts and crafts to sailing, woodcarving or horse breeding, we all have hobbies in which we enjoy. Some of these hobbies you can use to make a little extra money on the side, in addition to finding pleasure in the activity itself. Sometimes these hobbies can blossom into a business, but the IRS has specific rules in determining whether or not what you do is ultimately for profit or just for fun.

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