QuiltingAndPatchwork.com
If you’ve begun to earn some income from your quilting or related activities,  when does this transition from a hobby to true business?
Jean Murray, at Small Business Boomers, has a great post with information about what the IRS (Internal Revenue Service in the US) considers a true business. You might like to check out her, Boomers Retiring to “Fun” Businesses: Is birdwatching a business?
She mentions some of the criteria the IRS uses to determine whether you’re en titled to deduct your losses from the business you’re operating or starting up. Jean does mention that writing is one business that’s easier …read more