Questions tagged [hobby-income]

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How to handle a hobby that makes income in US

Suppose a US hobby artist consistently has more expenses than income, so the activity does not qualify as a business. But suppose the hobby has income from selling paintings. How should the artist ...
FlanMan's user avatar
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1 vote
0 answers

How can I handle an unofficial partnership/hobby business

Some Background: A friend and I have been working on a clothing company together. We have both had similar ventures before, but have only worked solo when doing it. Now we are splitting it to where ...
knocked loose's user avatar
2 votes
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If I accept payment through my spouse's paypal who gets taxed?

I have a few compound questions, some of which may border legal SE. So please feel free to defer areas that you feel are in the other category. I have been spending time learning photography and ...
perennial_noob's user avatar
1 vote
2 answers

Effect of Reportable Hobby Income on Social Security Benefits

I am basically early-retired and well under 62 years old, and I do make passive income from investments (probably not relevant to this question). I am considering doing something I like to do and ...
AA040371's user avatar
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2 votes
1 answer

Can I deduct some of the costs for a car if I write about it on my for-profit blog?

To preface, my goal is not to game the tax system. I'm trying to understand this to see if it is financially reasonable. So I am legitimately interested in starting a blog/YouTube channel in the tech ...
iq78's user avatar
  • 307
2 votes
1 answer

Implications of receiving small amounts of money on the side

I'm working full time as a software developer at a research institution in the UK. I've now been approached by a company in Vietnam to do some translation work for them (English -> German). I've ...
Baz's user avatar
  • 123
5 votes
2 answers

Hobby vs. Business

I do a small amount of tutoring. On my tax returns, I do not want to list it as a business because that makes my returns more complicated than they need to be and makes my tax prep software more ...
LN6595's user avatar
  • 606
3 votes
1 answer

What's the tax on a hobby orchard?

Say I harvest crop as a hobby on my land, and it's less than an acre. What's the tax on the crop income? In California.
Quest_G's user avatar
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4 votes
1 answer

What type of insurance would protect you against the Amazon 1p bug?

After seeing many hobby and small businesses losing thousands of pounds due to a software bug pricing their products at 1p on Amazon I've been wondering. Is there a type of insurance that a hobby ...
Jacob Tomlinson's user avatar
1 vote
1 answer

Liability insurance for hobby

Maybe I'm paranoid or something but it is hard not to be one when all you see in the news how some people sue others based on ridicules charges and then settle for millions. My situation: I work full ...
user13104's user avatar
2 votes
1 answer

Requirements for filing business taxes?

In her free time, my wife writes a food blog that gets a respectable amount of traffic. From time to time, businesses will approach her to sponsor a post about their products. At the end of the year, ...
Jeromy French's user avatar
4 votes
2 answers

Deducting Hobby Expenses on my Federal Income Taxes?

So here is my situation in a nutshell. My wife does theater productions as a hobby with no reasonable expectation to make a profit on the enterprise. She does, however, sell tickets with the intent to ...
JohnFx's user avatar
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5 votes
2 answers

I'm thinking about selling some original artwork: when does the government start caring about sales tax and income tax and such?

I've been doing some lithographic printmaking as a hobby, and I'm considering selling some artwork I have produced using this process - possibly in person, possibly with an Etsy shop. I'm not sure to ...
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