Latest / The Millionaire Dentist™
Hobby or Hidden Business? Navigate Between Passion & Profit
Is that side pursuit a passionate hobby or a potential profit center? Host Casey Hiers is joined by financial experts Colt Smith and Steve Levy, JD, and CPA, to dive into a topic many successful practice owners—and their spouses—face: distinguishing a genuine business opportunity from a casual hobby for tax purposes.
From public speaking to owning a horse business, many activities incur both expenses and generate income. Casey, Colt, and Steve share personal anecdotes, practical tips, and expert advice on how to properly evaluate, track, and account for any activity where money is spent and…
The skinny
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