For Businsess

Hobby or Business? It Makes a Difference for Taxes – Now More than Ever

Article Highlights: For-Profit Businesses Not-for-Profit Businesses Nine Determining Factors Profit Presumption Taxpayers are often confused by the differences in tax treatment between businesses that are entered into for profit and those that are not, commonly referred to as hobbies. Recent tax law changes have added to the confusion. The differences are: For businesses entered into…

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