Hobby or business: What people need to know if they have a side hustle

Hobbies and businesses are treated differently when it comes to filing taxes. The biggest difference between the two is that businesses operate to make a profit while hobbies are for pleasure or recreation.

Read the full article from IRS here:
https://www.irs.gov/newsroom/hobby-or-business-what-people-need-to-know-if-they-have-a-side-hustle

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