The Upside Of Monetizing Your Passion. For many people, the idea of making money from a hobby feels like a dream come true. Waking up to focus on what you love and setting your ow ...

Especially because you’ll need to avoid burning out along the way. To be remarkably successful you need to go all in: no distractions, no diversions, eyes always, always focused on the prize. Or not.

So it’s no surprise that the hobby loss rules are often litigated in the Tax Court. The cases involve activities as varied as horse breeding, poker playing, flying antique fighter jets ...

Pastry chef Sammer Calunsod put up her hobby business in 2006 in Sydney where she accepts orders for silvanas and customised cakes every weekend to manage time for family. Revenue in the ...