US-Specific Taxes30 min read
How the IRS Classifies Your Side Hustle as a Hobby or Business
Classify your side activity by profit intent, not by platform labels or how casual the money feels. A hobby is pursued for enjoyment without intent to make a profit, while a business is run with profit intent. The Internal Revenue Service expects you to evaluate all relevant facts and circumstances, and no single factor decides the result.
hobby incomebusiness deductionsirs rules+2 more
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