How to Prove Your Hobby Is a Business
Be ready to prove that your hobby is a business if you want to write off your losses.
Can You Deduct Your Hobby Expenses?
While you can deduct certain hobby expenses, the deduction is subject to lots of limitations.
Beware the Hobby Loss Rule: A Potentially Very Costly Mistake for Taxpayers
If the IRS thinks you have a hobby instead of a business, it could cost you a lot in taxes.
The Profit Motive: What the IRS Looks For
Learn what factors the IRS looks at to decide if something qualifies as a business.
When an Artist's Work is a Business Versus a Hobby: IRS Analysis
Even if you never make a profit, an artist's activity may be business under the IRS analysis.