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Hobby or Business? IRS Offers Tips to Decide

 

Millions of people enjoy hobbies that are also a source of income. From catering to cupcake baking, crafting homemade jewelry to glass blowing -- no matter what a person’s passion, the Internal Revenue Service offers some tips on hobbies.

Taxpayers must report on their tax return the income earned from hobbies. The rules for how to report the income and expenses depend on whether the activity is a hobby or a business. There are special rules and limits for deductions taxpayers can claim for hobbies. Here are five tax tips to consider:

Secure IT : Financial Safety Tips

Secure IT : Financial Safety Tips


Introduction
Online banking continues to present challenges to your financial security and personal privacy. Millions of people have had their checking accounts compromised, mainly as a result of online banking. If you are going to use online banking to conduct financial transactions, you should make yourself aware of the risks and take precautions to minimize them. The following practices, which are discussed further in this paper, can help you avoid common security problems associated with online banking:

Quiz: How Much Do You Know About Social Security Retirement Benefits?

Social Security is an important source of retirement income for millions of Americans, but how much do you know about this program? Test your knowledge, and learn more about your retirement benefits, by answering the following questions.

Questions

1. Do you have to be retired to collect Social Security retirement benefits?

a. Yes

b. No

2. How much is the average monthly Social Security benefit for a retired worker?

a. $1,360

b. $1,493

c. $1,585

d. $1,723

3. For each year you wait past your full retirement age to collect Social Security, how much will your retirement benefit increase?

a. 5%

b. 6%

c. 7%

d. 8%

4. How far in advance should you apply for Social Security retirement benefits?

a. One month before you want your benefits to start.

b. Two months before you want your benefits to start.

I get so many credit card reward offers. How do I know which one to choose?

Credit card reward programs are more popular than ever. In order to keep up with such high demand in a competitive market, credit card companies are coming up with new and more enticing offers every day. How do you know which one to choose?

Homeowners Desire American-made Solar Panels, and Buffalo Solar Solutions Delivers

Homeowners Desire American-made Solar Panels, and Buffalo Solar Solutions Delivers

With solar installation booming in the U.S., a growing number of consumers are requesting American-made solar panels for their homes, and Buffalo Solar Solutions Inc. is happy to meet that request!

To date, about 13 gigawatts of solar electric capacity have been installed nationwide — enough to power over two million households. Simultaneously, 82 percent of people who responded to a recent solar survey said they support using solar panels made on American soil.

Growth, Value, or Both

The terms growth and value are often used to describe two different investment strategies, yet many investors may want both qualities in an investment. Famed investor Warren Buffett put it this way in a 2015 interview: "I always say if you aren't investing for value, what are you investing for? And the idea that value and growth are two different things makes no sense.... Growth is part of the value equation."1

Even so, analysts may look at specific stocks as offering more growth potential than value, and vice versa. And these concepts are used to construct many mutual funds and exchange-traded funds (ETFs). So it's helpful to understand the opposing ideas, even if you want the best of both in your portfolio.

Poised to grow?

Businesses Can Dramatically Decrease the Likelihood of Slip and Fall Incidents

Businesses Can Dramatically Decrease the Likelihood of Slip and Fall Incidents

The statistics are daunting: Falls account for over eight million hospital emergency room visits annually and are the leading cause of workers’ compensation claims. Additionally, floors and flooring materials contribute directly to more than two million fall injuries suffered each year.

In an effort to eliminate slip and fall occurrences — and the potential for expensive lawsuits — many business owners across the country are turning to Sure Step, a non-slip treatment that can be applied to a wide variety of flooring surfaces to help prevent slip and fall incidents.