Distinguishing between a hobby and a business

How do you determine if you have a business or just a hobby? Sometimes, a hobby can be turned into a business. However, there can be an important distinction between when something is just a hobby and when something is a business. The process might not look much different, but the biggest separating factor is if you are financially profiting. Baking to photography could just be a hobby, but if you are being paid for these services, then you likely have a business and should be set up accordingly. Magnaltus Instagram: https://www.instagram.com/magnaltus/ #business #businessmanagement #businessstartup