Category Archives: Business New Age

Futuristic Business Stories

Bitcoin is Property on Federal Taxes

Bitcoin is Property on Federal Taxes

Bitcoin is Property on Federal Taxes
Bitcoin is Property on Federal Taxes

For the last few months, because of the decline in market value of Bitcoin, there has been less talk and enthusiasm about “investing” in Bitcoin, or “hedging inflation” with Bitcoin.

However, Bitcoin may rebound and this Bitcoin Fever may well re-appear with constant discussion and debate regarding Continue reading Bitcoin is Property on Federal Taxes

Hobby or Business? Why It Matters

50e14550f90642d0b99abaa721f40acdMillions of Americans have hobbies such as sewing, woodworking, fishing, gardening, stamp and coin collecting, but when that hobby starts to turn a profit, it might just be considered a business by the IRS.

Definition of a Hobby vs. a Business

The IRS defines a hobby as an activity that is not pursued for profit. A business, on the other hand, is an activity that is carried out with the reasonable expectation of earning a profit. Continue reading Hobby or Business? Why It Matters