In Home Bussiness
When is a hobby consider a in home bussiness. Am i allowed to sell things i make under $500.00 per year. I guess i want to know if i am allowed to sell what i make and not be consider a small in home bussiness?
Asked on 3/23/05, 6:44 pm
1 Answer from Attorneys
Mark Johns
Mark Johns, Esquire
Re: In Home Bussiness
If you make $500 a year you should report it on your 1040 as business income and file a schedule C-EZ. Check the forms, but I believe that amount is low enough self-employment taxes are not due. Otherwise you will need to check the regulations regarding hobby income.
Answered on 3/23/05, 7:28 pm
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