Apr 13, 2012, 23:41
Apparently the IRS defines hobbies as an activity which you don't seek to derive income from, and you are no allowed to claim these deductions from tax.
However if you DO intend to earn money from photography, even if you make a loss or don't earn any revenue - you CAN deduct these expenses from your personal income.
http://m.lifehacker.com/5901074/got-a-ho...-tax-break
I recommend getting advise from an accountant though before you try anything otherwise you might end up with the IRS on your tail.
However if you DO intend to earn money from photography, even if you make a loss or don't earn any revenue - you CAN deduct these expenses from your personal income.
http://m.lifehacker.com/5901074/got-a-ho...-tax-break
I recommend getting advise from an accountant though before you try anything otherwise you might end up with the IRS on your tail.