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Financial Planning / Tax Strategies


Subject:  Re: when is a business no longer a business? Date:  6/17/2012  7:15 PM
Author:  wrjohnston91283 Number:  116278 of 130433

Is the business incorporated, or in any form other than sole proprietorship? I think you would need to wind down that entity if you were to meet the requirements of being a "hobby" vs for-profit enterprise. At the very least, it would free you from the (possibly) required annual reports to the state.
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