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Old April 20th, 2011, 09:38 PM   #53
whiterhino
I'm not old, honest...
 
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Quote:
Originally Posted by wellkevi01-KWO View Post
Just cause I want to develop and sell bumpers, rock sliders, and other products doesn't mean I want to start a business. I consider it a "hobby" because I enjoy designing/building this stuff and it's more of a side project. And you may be thinking to yourself, "if he actually enjoyed doing it, he'd do it for free.", but I go by the saying, "If you're good at something, don't do it for free." If one day I start a business, then sweet, but for now its merely a hobby. And yeah, I knew what IPO stood for...
OK, I'll play one more round. Selling something means you have income. Income requires you to pay income taxes, or file a tax return with writeoffs to offset your income.

I'm pretty sure the IRS calls this a "business".

And to back up, what makes you think anyone would just give you money to watch you play with your hobby? How's this, I like to water ski. Please buy me a new boat.
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