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Business vs Hobby – Your Responsibilities at Tax Time with Janet LeBlanc
January 28 @ 1:00 pm - 2:00 pm EST
As tax time approaches, there can be a lot of confusion about what you have to deal with, what you can ignore, and when you have to do what! Let’s get clear on how the IRS defines a business versus a hobby activity when it comes to your tax responsibilities.
Is your side hustle or online shop taxed as a business or a hobby, and what does that actually mean for you?
By the end of this training, you’ll know what forms you should be prepared to deal with at tax time and an overview of the steps you may need to take if you’re considered a business.
You’ll learn:
- How the IRS defines a business versus a hobby activity (and what it means for you!)
- Where (or whether) each type of activity reports its sales and expenses
- What forms you’ll want to be prepared to deal with, and when they’re due
- A bonus overview of the rest of the things that should be on your radar if you’re operating as a business
Plus, Janet will answer your burning finance questions live! This training is best suited for audiences located in the US.