In Distinguishing Whether an Activity Is a Hobby or a Trade

question 53

Essay

In distinguishing whether an activity is a hobby or a trade or business, discuss the presumptive rule.

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Definitions:

Influencer Marketing

is a strategy where brands collaborate with individuals who have a large and engaged online following to promote products or services.

Prospective Buyers

Individuals or entities potentially interested in purchasing goods or services, often targeted by marketing and sales efforts.

Social Media

Online platforms that enable users to create and share content or participate in social networking, significantly impacting communication and marketing strategies.

Social Influence

The effect that the words, actions, or presence of other people have on an individual's thoughts, feelings, attitudes, or behaviors.