Turning a Hobby Into a Business Can Make You Rich

…and save you taxes!

Many people dream of turning their passionate pursuit into a money-making venture. Creating a successful and profitable business is seldom easy, but the Federal government offers tax incentives to business owners that could make converting an avocation into a business start-up an effective part of your overall tax planning strategy. If you are thinking about turning your hobby into a business, you would need to realistically appraise your chances of building a profitable enterprise before you declare yourself a business…