Tax Reporting Requirements for Craft Businesses and Hobbyists
Crafty Hands Club Magazine
English - March 28, 2021 04:46 - 8 minutes - 11.9 MBCrafts Leisure Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
Previous Episode: Interview with Rebeca Mojica of Blue Buddha Boutique
Next Episode: Can a Craft Business be Profitable: Sales vs Profits
Craft businesses and hobbyists have tax reporting requirements. In this episode, you'll find out what's considered a hobby according to Internal Revenue Service (IRS), taxable income requirements, expense deductions, forms to file, and 1099-K for crafters who sell goods on third party sites (Amazon, Etsy).