What Is the Hobby Loss Rule & How Can It Impact Your Business?
MazumaBusinessAccounting
AUGUST 26, 2021
Keep extensive files showing where you spent your money and how it was imperative to your business. If you try to claim your hobby as a business then it could trigger an IRS audit. Only claim deductions if you are actually running a business. If you need help with your business taxes or finances, reach out to our team.
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