by Steven J Weil, PhD, EA, LCAM | Aug 15, 2023 | Blog, Business Tax, Personal Tax
What is the difference between a business and a hobby — and why is it important? Businesses are motivated by profit, while hobbies are about the joy of the activity not the desire to make a profit. The distinction is important because when you have a business... by Steven J Weil, PhD, EA, LCAM | Dec 3, 2022 | Blog, Business Tax
The pandemic created a lot of new business owners who had little or no business experience. Many of these people, for the first time in their lives, found themselves having a business instead of a job because of changes that gave them little or no choice. To their... 