Tax Day is right around the corner, and the best thing you can do before you file (if you haven’t already) is to educate yourself. The second best thing you can do is keep good records, as you can often use the tax laws to your advantage if you’ve got the documentation to back up your claims.
Before you start figuring possible tax deductions, you must decide whether you’re running a business or have a hobby for tax purposes. You make the determination, but the IRS won’t be pleased if you claim business deductions and aren’t striving to turn a profit.
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