A quick read tells me you can deduct expenses on a hobby business...
up to your profits. So, turning this around if you are dutiful about paying taxes on your receipts then you might use those cover those expenses you mentioned.
So, yeah there would be record keeping involved which seems like a lot of extra effort to get back to the point where you started: there were never really any profits to pay taxes on. But you'd have to check the law on reporting any income that you get.
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In response to this post by Tafkam Hokie)
Posted: 08/15/2018 at 09:58AM