Is your side hustle a business or a hobby for taxes?

How to make money from home. How to make passive income. How to make money while you sleep. It's everywhere. Everyone has a side hustle it seems. Are you prepared for the tax ramifications? Is it a business or is it a hobby for tax purposes? Why does it matter? Watch this video for more info. Starting (or running) a side hustle or small business comes with a lot of questions - most of which I’ve answered hundreds of times for business owners just like you. So, I put everything you need to know in one place. Sign up here → https://brad-wooten-cpa.mykajabi.com/... This course includes everything (and more) of what I cover in a startup business consultation - for a fraction of the cost. The Course Covers: ✅ Is Your Side Hustle a Hobby or a Business (in the eyes of the IRS)? ✅ Do You Need an LLC? ✅ Should You Be an S Corp? ✅ How Do You Estimate What You Will Owe in Taxes? ✅ What Records Should You Keep? ✅ How to Grow and Market Your Business ✅ Tax-Saving Strategies Every Business Owner Should Know This Course is for You If: ✔️ You’re making extra income and unsure how taxes work ✔️ You want to start a business but don’t know the next steps ✔️ You’re overwhelmed by LLCs, tax filings, and record-keeping ✔️ You want to avoid costly mistakes and set yourself up for success ✔️ You want to know the best tax savings strategies for small businesses 🚀 Limited Time Offer: The first 35 people get $100 off! Get clarity on your business setup, taxes, and financial basics so you can focus on growing your business. Sign up here → https://brad-wooten-cpa.mykajabi.com/... Find out more about me: https://www.wootencpa.com/about For personal or business financial coaching: https://www.wootencpa.com/financial-c... For help with individual (including clergy/pastor/missionary) taxes: https://www.wootencpa.com/individuals... For help with business & nonprofit taxes: https://www.wootencpa.com/business-ta... For business & nonprofit accounting / finance consulting: https://www.wootencpa.com/businesses-... For tax help, IRS liens, levies, tax debt, penalties, etc: https://www.wootencpa.com/tax-help For articles about tax and finance topics: https://www.wootencpa.com/blog Visit my company website: https://www.wootencpa.com/ ****************************** *Disclaimer: All information contained in my videos are for general educational purposes only. These videos are not meant to be used as tax advice for any specific individual, business, or other entity. You should consult with a CPA or other professional before making any decision that impacts your tax and financial responsibilities. Additionally, I am not a Certified Financial Planner and I do not give investment advice. Any information contained in my videos related to budgeting, finances, or investments are solely my opinions and are not intended to influence specific decisions you may make as it relates to your finances.