December 30, 200916 yr Hi guys, Was having a discussion with a friend, and we got into the topics of hobbies that make money. For example: if i was good at painting, i could possibly sell the paintings OR if i had a pair of dogs, and they gave birth to puppies that i didnt need, i could sell them. Chances are it wouldnt be a constant income, but where is the line drawn between a little bit of cash in hand for 2 paintings/a puppy through to it being classed as a business that needs to be declared for taxes. (dont worry, i cant paint and dont intend to start breeding dogs, this is purely hypothetical) If you are self employed, would it be better to list all of these as part of your income from the webdesign (give your paintings a website and say that as you own the website/paintings it is then part of your self employment) ? Thanks Reaper
December 30, 200916 yr Generally if you're self employed you'll be doing an annual tax return which must include all income, whether that's from your primary trade or hobbies.
January 4, 201016 yr It becomes business when you do it more then 2 hours per day. What if you do it for 8 hours a day and don't make a dime? You can't really tell by time. It stops being a hobby when you are professional and you are professional if you can support yourself financially via Webdesign.
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