Finance: Turning a Hobby Into a Business : “Finance: Turning a Hobby Into a Business”
By Linda Stern
“WASHINGTON (Reuters) – It’s a tough job, but somebody’s got to race sailboats, paint pictures or take model train sets on road shows.
Even if these activities are not part of your day job, they still may be considered a business. That’s worth something, because businesses get all kinds of tax breaks.
Take your sailboat to the Virgin Islands for a pleasure cruise, and you’ll see some beautiful scenery and have fun. Take it there to race and trade stories with other boat owners, and you may be able to write off the trip.”
– A get out there and do it article. But do it right. -ed.