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Self employed
Ok, so we’re back to hobby vs. self-employed. I was told earlier by another expert that if I sell goods for profit, I’m self-employed. However, I consider what I do as a hobby….no expense records kept. The response above cites “IF” this is a hobby….which connotes that the taxpayer is able to make a choice, e.g., business or hobby. Is the choice truly mine or, as stated by another expert, is there no choice and I’m automatically considered self-employed?? And if I get to choose that my side gig is indeed a hobby, then all income over $600 is taxable without the benefit of writing off expenses? How is that fair??
August 31, 2022
2:07 PM