Hernandez Income Tax Service LLC

Many great ideas start off as a hobby. If you're not sure whether you have a hobby or a business for purposes, this tax tip is for you. The main difference between the two is that a business operates for profit while a hobby operates for recreation. Whether you have a hobby or a business, keeping good records throughout the year will help when you file your taxes.

Find out if your passion is a hobby or a business at https://ow.ly/AVcC50WnbpK.

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Giving your used car to a qualified tax-exempt organization is a great way to help your community. You may also get a tax deduction! Before you donate, the has important information on what to expect when donating your vehicle. Knowing this information ahead of tax time can help you when you're ready to file in the new year.

Find out more about donating your car at www.irs.gov/pub526.