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Hobby or Business? It Makes a Difference for Taxes
Taxpayers are often confused by the differences in tax treatment between businesses that are entered into for profit and those that are not, commonly referred to as hobbies. The differences are:
Businesses Entered Into for Profit – For…
Elusive Employee Business Expense Tax Deduction
One major difference between being an employee and being self-employed is how you deduct the expenses you incur related to your work. A self-employed individual is able to deduct expenses on his or her business schedule, while an employee is…
Uber (and Lyft) Drivers’ Tax Treatment
If you are one of the many individuals in the ridesharing business who is working through services such as Uber or Lyft – or if you are thinking of getting into this business – you may have some questions about the tax issues associated…