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We keep you up-to-date on the latest tax changes and news in the industry.

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.

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