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even if you charge $$ it's a hobby - Page 6

post #76 of 80
Thread Starter 

marble top tables are nice but having a nice cozy legal business is pretty sweet!!

 

best of the best to you1

if an inmate is walking down the stairs is that condescending
 
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if an inmate is walking down the stairs is that condescending
 
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post #77 of 80

thumbs_up.gifLoving it!

post #78 of 80
Thread Starter 

as a matter of fact--regarding all the other government agencies needing to agree with the irs assessment

 

(that hobbyists can make some money and not be a business)

 

in my county if you make less than $3000 a year you do not need a business license

 

i'm not saying the state & local tax peeps & (for baking) the health dept won't getcha but i'm just saying

 

that could be interpreted as in my county you're not considered a business (not a license worthy business) if you don't exceed $3000 a year

 

i doubt that that's unique to shelby county tn--may not be true everywhere but interesting huh

if an inmate is walking down the stairs is that condescending
 
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if an inmate is walking down the stairs is that condescending
 
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post #79 of 80
Quote:
Originally Posted by -K8memphis View Post

as a matter of fact--regarding all the other government agencies needing to agree with the irs assessment

(that hobbyists can make some money and not be a business)

in my county if you make less than $3000 a year you do not need a business license

i'm not saying the state & local tax peeps & (for baking) the health dept won't getcha but i'm just saying
It's not uncommon for cities or counties to exempt businesses grossing under a very low threshold from getting a business license. However getting a business license is probably one of the easiest steps in the process, and the criteria used (gross sales) is different from the criteria used by the IRS (profitability over time) and health depts (interaction with the public).

For example, if you operate a very small scale business in Shelby County TN, gross $2500/year, make a profit every year, and advertise to the general public, you would be considered a business by the IRS (which is what you want) and by the health dept (which is more of a headache) even though no business license would be required.
post #80 of 80
Thread Starter 

i'm just saying there's wiggle room to not be a business and make small potatoes randomly

 

still be aboveboard and declare everything to every agency that requires it

 

but advertising & stuff--that's for businesses

if an inmate is walking down the stairs is that condescending
 
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if an inmate is walking down the stairs is that condescending
 
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