Earlier quoted context omitted.
Others have tried and the IRS has even provided a helpful guide on if your endeavor is a hobby or a business ( https://www.irs.gov/pub/irs-news/fs-08-23.pdf ).
Thanks for this! I didn’t know the guidelines were published. This is like FINCEN’s 2013 and 2019 guidances for cryptocurrencies. “The limit on not-for-profit losses… does not apply to corporations except S Corporations”. It doesn’t seem to mention LLCs. These are “disregarded entities” at the IRS level, so what does that mean? For tax purposes they are treated as sole proprietorships? It seems to me there is some “m…
Doesn't work for a lot of things (including reputable restaurant reviews) but bloggers also have the opportunity to get free stuff if they get noteworthy enough. Yes, it's a source of bias but so long as everything isn't how this thing they were given for free is fantastic, I don't have a problem with it. I've reviewed books (and a few other things) sent to me and I've given some pretty negative reviews as well as positive ones.