Has The IRS Classified Your Business As A Hobby? 3 Things You Can Do
It seems like almost everyone has a side gig these days. Online marketplaces that allow people to sell anything and everything have made it possible for people to turn their hobbies into a viable business.
The sale of any item is subject to taxation, but the IRS treats hobby sales and business sales very differently. Most people want to be classified as a business so that they can claim deductions to reduce their tax burden.
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