A hobby claim is a type of insurance claim that is filed in order to receive reimbursement for costs associated with a hobby. These costs can include supplies, equipment, classes, and membership fees. There are a few things that you will...
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Where To Deduct Hobby Expenses
There are a number of ways to deduct expenses related to your hobbies. The most important factor in determining whether you can deduct a hobby expense is whether the activity is considered a hobby or a business. If the activity is...
Continue reading...When Does The Irs Consider Farming A Hobby
The Internal Revenue Service (IRS) considers farming to be a business when it is done with the intention of making a profit. However, there are some cases in which the IRS may consider farming to be a hobby, even if there...
Continue reading...Why Paying Taxes On A Hobby
There is no escaping taxes, and that includes taxes on your hobbies. Even if you think your activity might not be considered a taxable event, it’s best to speak with an accountant to be sure. In most cases, any money you...
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