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Tuesday, 17 November 2015 18:38

Hobby or business?

Do you have a hobby or a business? The line isn't always clear. Take, for example, a sculptor: sometimes people sculpt purely as a hobby, maybe once in awhile they sell a sculpture or win a prize, but they aren't primarily in it for the money. Then, there are sculptors who do nothing else. Their days are spent in the studio, or arranging for exhibits and publicity. Sales of their work provide their primary source of income. In between those two points, there is an infinite spectrum of individuals; how do they determine whether they have a hobby or a business?

Profit motive

Published in Money

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