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Tax Sep 2012 - "Business or Hobby? It Matters to the IRS"

Tax Sep 2012 - "Business or Hobby? It Matters to the IRS"

Tax Sep 2012 - "Business or Hobby? It Matters to the IRS"

Excerpt


Business or Hobby? It Matters to the IRS



Are you running a business or is it a hobby? Although in reality the lines may blur, it makes a big difference on your taxes. 


According to the IRS, the incorrect deduction of hobby expenses accounts for a portion of $30 billion per year in unpaid taxes and is a frequent issue in IRS audits.


 


 



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