Turning your hobby into a business can provide tax benefits if you do it right. But it can create a big tax headache if you do it wrong.
While most of us are never audited, when it happens it can feel a lot like a lamb thrown in the room with a lion.
IRS audits – In late 2020, the IRS announced that it will increase tax audits of small businesses by 50 percent in 2021. Here are several mistakes to avoid if you do get audited.