Hi Guys, Love you both, who thought you could have fun while binging tax videos and podcats?
My husband and his friend are creators of a podcast, They’ve been releasing episodes since mid May 2023. They have over 50 episodes and are approaching 4000 downloads. This isn’t one of those businesses that you are always telling us that “you’ve got to sell the lemonade to qualify as a business” They aren’t sponsored, monetized or have any affiliate programs yet and we estimate it may take a couple more years before that happens. In the mean time they do have expenses for hosting fee’s, equipment and travel. (would travel to the location they record at be considered commuting?) At what point can we take that to the tax guy and say this is a side hustle, please add this to a schedule C or wherever It should be reported on?
Thanks for all that you do!
Karen