A funny thing happens to people when they enter retirement. Even if they’ve saved well for that stage of life and have plenty of money to go around, many retirees worry about depleting their nest eggs ...

Quick ReadA retirement hobby portfolio must solve two problems: funding the activity and replacing the part-time income that ...

Hobbies are vital for helping to maintain life balance, yet many of us don't have them. Nearly 44% of Americans are hobby-less, a low number compared to other parts of the world where more than 90% of ...

Forbes contributors publish independent expert analyses and insights. I am the Executive Chairman of Diversified, a CFP and author. Retirement is often seen as a time to relax and enjoy the fruits of ...

Operating a business on the side can give you valuable tax deductions as well as extra income. However, the Internal Revenue Service (IRS) decides if the business is actually a hobby or not. If the ...

Hobbies provide a greatway to relax from the daily grind. For many, they offer a way to make extra spending money. But be aware that when your hobby produces income, you owe tax on it. You can reduce ...

The Internal Revenue Service has strict rules about what constitutes a business and what is a hobby. A hobby is an activity that is not performed for profit, according to IRS Publication FS-2007-18.