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RE: Hobby vs Business Classification
if we have to choose between the hobby with the business, surely these two will make us dizzy to choose, if we choose a hobby course we will lose business whereas if we choose a business then we will not be able to run a hobby. these two are indeed difficult to determine for us to select.
Thanks, but it's not so much a selection as much as it is a determination. The classification is dependent upon the facts and circumstances surrounding the business; it is not a choice made by the taxpayer.
Hobbies are for love, business for profit. But when the two meet it is an enriched love affair!