Submitted by Silver0PK0Power t3_11e9jjp in personalfinance
altmud t1_jacwdrq wrote
I'm curious what a "contentment creator" does, lol, sounds like an interesting job.
Anyway, the first thing to determine is whether your activity is a "hobby" or a "business". The IRS has various rules for determining that. If it is a "hobby", your taxes will be very simple. If it is a "business" they will be more complex, and probably too much to put into a post here -- there are many websites with articles for self-employed persons.
https://www.irs.gov/newsroom/earning-side-income-is-it-a-hobby-or-a-business
Silver0PK0Power OP t1_jaefnyv wrote
It’s meant to be a simple hobby, like a part-time job.
However I do hope to turn it into a business one day.
Anymore info I should know?
altmud t1_jaehkn4 wrote
A "hobby" and a "part-time job" are two different things. You need to decide which it is. More specifically, what it is right now, this tax year (or last tax year, whichever you're talking about).
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