Monthly Archives: February 2023
Your side business could result in a tax headache whether you rent out your home on Airbnb, provide guitar lessons and accept payment via Venmo, or sell shoes on eBay. A new law mandating users who earn more than $600 in revenue to receive tax forms from sites like eBay, Etsy, and Airbnb as well […]
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Regardless of whether it came from a business or a pastime, every income earned is taxable. Losses sustained while engaging in a hobby are not generally deductible, whereas commercial losses are. Where you disclose money on your tax return depends on how the gig is categorized. Schedule C, “Profit or Loss from Business (Sole Proprietorship),” […]
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