by Miguel A. Palma, CPA, PFS, CGMA & Tax Advisor | Jul 19, 2023 | Hobbies, Tax Strategy
Think of your hobby as a puzzle. To secure the pieces of the puzzle that allow you to deduct your losses, you need to demonstrate a profit motive. In other words, you must establish that your now-money-losing hobby is indeed a business for tax purposes. To minimize...
