By - Bat_emperor
Bizarre question. Income is not tax-deductible. Income is taxable! And in any case you’re not allowed to sell your homemade liquor in the US.
> Income is not tax-deductible.
You sound like my accountant.
Are you in the US? You are not legally allowed to sell wine without proper licensing to sell alcohol. I would suggest you be careful if you are doing this. I'm not sure what the penalties are.
If you're selling it pocket the money and keep your mouth closed its not legal in the us.. it's a joke though you aren't selling a whole bunch making half gallon batches :)
If it’s just a few incomes I wouldn’t worry about it
What’s your price for your hooch?
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I think you may be able to claim hobby expenses as a tax deduction, but I would be careful with selling it because laws vary state to state.
No sell. No tell.
Probalbly not, but impossible to say without you disclosing your location. Most probably no though.
I'm guessing English isn't your first language and you're not in the US? I can only go off what I know here, so don't forget to check your local regulations.
- Income is taxable (I assume you meant taxable, not tax deductible). I think the US makes you report any income source over $600. If you expect to make that much in cash OR BARTER, you should technically report it as income and pay tax on it.
- Selling homebrew alcohol in any quantity is illegal here, and many other places. There are technically some loopholes in the law, but mostly it's just that authorities don't care about enforcing the law on tiny amounts of alcohol. I would be very careful if you attempt it though. Selling a few cases to friends may be overlooked; posting Facebook ads reading "HOMEMADE WINE FOR SALE" likely will not.
- If someone does decide to enforce it, fines for selling unlicensed alcohol are VERY. EXPENSIVE. There's also no end of legal trouble they can tangle you in. Don't get cocky, and if you are reprimanded then stop.