Hobby or business: here’s what to know about that side hustle

Hobby or business: here’s what to know about that side hustle

Sometimes the line between having a hobby and running a business can be confusing, but knowing the difference is important because hobbies and businesses are treated differently when it’s time to file a tax return. The biggest difference between the two is that...

Is your pastime a hobby or a business?

From collecting stamps and woodworking to crafting and quilting, people have all kinds of hobbies – and most of these hobbies will never turn a profit. For hobbies that do earn income, people should know that they must report it on their tax return. They should also...
Is your pastime a hobby or a business?

Is your pastime a hobby or a business?

From collecting stamps and woodworking to crafting and quilting, people have all kinds of hobbies – and most of these hobbies will never turn a profit. For hobbies that do earn income, people should know that they must report it on their tax return. They should also...

If you owe the IRS, there are many ways you can make payments

Benjamin Franklin once said, “In this world nothing can be said to be certain, except death and taxes.” Thankfully, if you do owe federal taxes, the IRS provides a variety of ways in which you can make your payments. These are applicable for both business...
If you owe the IRS, there are many ways you can make payments

If you owe the IRS, there are many ways you can make payments

Benjamin Franklin once said, “In this world nothing can be said to be certain, except death and taxes.” Thankfully, if you do owe federal taxes, the IRS provides a variety of ways in which you can make your payments. These are applicable for both business...
Energy tax credits are available when you “Go Green”

Energy tax credits are available when you “Go Green”

From electric vehicles to solar panels, “going green” can offer both environmental and financial benefits. With global conflicts and increased gas prices, now may be the time to explore reducing your carbon footprint to better the Earth and save you money. In...