Businesslike Manner – Geunim

Profit Motive: The Legal Line Between Business and Hobby

Meta Description The profit motive is the core legal and economic driver distinguishing a business from a hobby. Understand the critical IRS nine-factor test that determines your tax liability, expense deductibility, and overall compliance for any income-generating activity. The phrase “profit motive” sounds purely economic, suggesting nothing more than a desire to make money. While […]

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