Hobbies are vital for helping to maintain life balance, yet many of us don’t have them. Nearly 44% of Americans are hobby-less, a low number compared to other parts of the world where more than 90% of ...

A funny thing happens to people when they enter retirement. Even if they’ve saved well for that stage of life and have plenty of money to go around, many retirees worry about depleting their nest eggs ...

Over the years, many colleagues, friends and family who have observed my work habits have suggested, with the best of intentions, that I find a “hobby,” by which they mean something other than a ...

Hobby income differs from other types of income (like self-employment income and income from your side hustle), and the IRS taxes each type differently. Determining whether your revenue stream ...

Operating a business on the side can give you valuable tax deductions as well as extra income. However, the Internal Revenue Service (IRS) decides if the business is actually a hobby or not. If the ...

It’s my annual "Taxes from A to Z" series! If you’re wondering whether you can claim home office expenses or whether to deduct a capital loss, you won’t want to miss a single letter. H is for Hobby ...

Fashioning clay into pottery, painting landscapes on canvas, photography, car restoration – all terrific hobbies. But if such activities are a source of pleasure and revenue, make no mistake about it… ...

The Internal Revenue Service has strict rules about what constitutes a business and what is a hobby. A hobby is an activity that is not performed for profit, according to IRS Publication FS-2007-18.