Business or Hobby? Know the difference!

From woodworking to soap making, many activities can be sources of income, but is it earned income, or hobby income? If you haven’t turned a profit in three or more years, the IRS might say your business is a hobby. Making money alone isn’t enough for the IRS to consider you a business. You…

How do I notify the IRS my address has changed?

IRS form Use Form 8822, Change of Address or Form 8822-B, Change of Address or Responsible Party – Business Tax return Use your new address when you file Written statement Send us a signed written statement with your:full nameold addressnew addresssocial security number, ITIN, or EINMail your signed statement to the address where you filed…