Video Tips: How to Distinguish Hobby Vs. Business for Tax Purposes

If you are considering earning money from your hobby, it's important to understand the tax implications. According to the IRS, any income generated from a hobby must be reported on your tax return, but it is not eligible for deductions like business expenses. So how does the IRS determine if your activity is considered a hobby or a business? Watch this video for a brief overview.

Share this article...

We are here to help you succeed!

Contact Coker James to begin your journey.

I confirm this is a service inquiry and not an advertising message or solicitation. By clicking “Submit”, I acknowledge and agree to the creation of an account and to the and .
I consent to receive SMS messages and agree with the

STAY INFORMED!

Receive the latest in tax and small business updates that affect your finances and growth prospects.

I confirm this is a service inquiry and not an advertising message or solicitation. By clicking “Submit”, I acknowledge and agree to the creation of an account and to the and .

Social Media

Location

3550 George Busbee Parkway NW, Suite 150
Kennesaw, GA 30144