Is This Your Business or Hobby?

by Andrew Davis

When I meet someone who asks what I do, among other activities I say I spend time woodworking.  The next question is, what do you make?  Third question succinctly put is, is it a business or a hobby?

Last month we listened to Mike Zwolinski speak about running his business.  But some of our membership have a business/hobby relationship. If it's a hobby, what type.  If it's a business, what type?  Andrew takes on this dilemma in his article Is This Your Business or Hobby?  Andrew relies on finance and tax mavens at Lord Mishigass School for Economics for insights.