The IRS and your hobby
#1
The IRS and your hobby
I don't know if any one has seen the artical on MSN money about selling your hobbies. Hobbies provide a great way to relax from the daily grind for many people and it is also offer a way to make extra spending money. Be aware that when your hobby produces income you owe tax on it. A good friend of mine who was making and selling from her home and now she has to pay lots of money to the IRS.
#3
#9
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Join Date: Dec 2009
Location: Enid, OK
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#10
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Join Date: Nov 2010
Location: Jozefow, Poland
Posts: 4,474
How true...;0 But then it isn't too hard to show that, is it? Why did you say that they would hear from the IRS by the end of the year? Is this a new thing, or do they do that by the end of every year?
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Treasureit
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09-04-2014 01:39 PM