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Hobby Or Business, Why It Matters To IRS & Your Taxes

(Forbes) - The line between having a hobby and running a business can be confusing, but knowing the difference is important and can save you money. Hobbies and businesses are treated differently when it’s time to file a tax return. And the IRS watches this line carefully, with frequent audits.


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More Headlines
Right to Repair: These Phone Brands Are Easiest (and Hardest) to Fix 
(PC Mag) - A look at the phone repair scores at iFixit reveals some surprising findings.

Black CPAs: IRS Must End Higher Audit Rates for Black Taxpayers 
(JofA) - Black CPAs react to study led by Stanford University showing the IRS is up to 4.7 times more likely to audit Black taxpayers than non-Black ones, saying the tax system must be fairer.

The Most Expensive States to Die In (Due to Death Taxes) 
(Kiplinger) - Death taxes can make life difficult for loved ones. You might know about the cost of living in some states, but what about the cost of dying?

No End in Sight: Why the Regional Banking Crisis Will Continue 
(Commercial Observer) - Large uninsured deposit bases and fragile equity valuations create risky cycle for banks

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About AccountantsWorld

At AccountantsWorld, we value the crucial role that YOU play in core business services - accounting and payroll - just as much as you do.

That's why, since 2003, we've used the unprecedented power of the cloud to put you back in full control of your accounting and payroll services so you can best serve your clients, while raising your own firm's value and relevance. And we never sell our products or services directly to your clients.

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