There is an old saying in Texas:
"In the horse business beading
world, you can make a small fortune--out of a large one."
This article discusses the several factors the IRS uses to consider whether an activity is a hobby or a business. It is written for horse owners, but the explanations are clear enough to help beaders as well.
I got a business license so I could participate in many craft fairs that required one. From then on, it was official.
Even though most years my expenses outweigh my "profits" I'm still an official business. At least, that's what I keep telling myself. ;-)
Just bumping up to get spammers off top of page.
southwest Texas USA