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Do you have to suffer for your business?

There’s a great quote from a tax court case:

“We note that a business will not be turned into a hobby merely because the owner finds it pleasurable; suffering has never been a prerequisite to deductibility.” Krebs v. Commissioner, TC Memo 1992-154

I think this points out one major thing: you can enjoy what you do. As long as you carry on as a business, you’re safe. (More on carry on as a business later…)

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