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Ask Ralph: Christian Finance

Business Versus Hobby

You have started a business and you aren't making a profit. You've heard that the IRS won't accept business deductions if it considered your business a "hobby", but what it the truth? On today's show, Ralph discusses how the IRS distinguishes between legitimate business and hobby activities, for the purpose of taxes and what that means for you.

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To schedule a consultation with Ralph's team or to schedule your tax preparation appointment, contact him at 302-659-6560 or go to www.askralph.com for more information.