So you’ve just found out that your hobby can actually make you extra money — congrats! Now, how do you know when it transitions from being a hobby to a full-blown business?
IN THIS WEEK'S EPISODE, WE'RE BREAKING IT DOWN FOR YOU SO THAT YOU CAN FIND OUT:
The difference between hobby and business income.
How the IRS determines if you’re running a hobby or a business.
How deductions and expense tracking work for each income type.
Whether you’re a blogger, painter, or simply love creating handmade goods for friends and family, this episode is for you!
Brought to you by @switchandboard