When the IRS classifies an activity as a hobby rather than a business, tax deductions can be limited or disallowed. To qualify as a business, the IRS looks for profit motive, customer activity, and profitability in at least 3 of the last 5 years. Proper structure and documentation are critical to avoid hobby classification. Click the link in my bio to access the Zero Income Tax Playbook.
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🇺🇸🇮🇳 America Sales & India Income Tax Sales Tax in USA 🇺🇸 for Dropshipping 📦 It is the responsibility of the seller to collect and remit sales tax to the correct state government. Sales tax is a complicated subject. Every state has their own sales tax percentage. Hire a CPA in USA to know more about your business sales tax situation. Economic Nexus In some US states, there is no sales tax for the seller until you cross a sales threshold. This is called reaching the economic nexus of a sta
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