Turning My Hobby Into A Business, Are There Tax Benefits?

You started out designing t-shirts for a family reunion. Before you knew it, requests for other designs were trickling in. Does this sound familiar?

Maybe it isn’t graphic design. Perhaps it’s dog walking, babysitting, reselling, or crafting. If you’re like most people, you have a hobby you love and are really good at. A growing number of Americans are turning their hobbies into hustles, with nearly 4 out of 10 Americans working side gigs.