Well, yes. It's always about money. Buy cheap and sell dear.What I find "interesting" (I say that with tongue in cheek) is that Realtors are the first to bark if someone wants to try and sell a home/land w/o being a licensed Realtor. But many of those same people think it's OK to hire someone without the proper license/credentials to do work for them. This is a discussion I've had on local and national levels many times. I wouldn't be surprised if Part 107 doesn't give them a bit more "backbone" on the issue.
And even if you don't include your income on your taxes (not a good idea!), the people who paid you are likely to. After all that is a business expense that they will want to deduct. Anything other than playing by the rules puts you at risk.Well, when you try to make a business of it; and file your business tax return along business material expense (drone, memory card, case, gas to/from job sites, etc...). Your creating a paper trail. If it turns out that you don't have FAA designation and your filing as a business be careful when the federal end points connect to one another.
And even if you don't include your income on your taxes (not a good idea!), the people who paid you are likely to. After all that is a business expense that they will want to deduct. Anything other than playing by the rules puts you at risk.
The business of flying commercial vs hobby will be interesting to watch it evolve, especially with the IRS. As an example, if you don't demonstrate you are making enough effort or enough money, the IRS can declare you are not a business, just a hobby, however you can't sale under the term hobby.
Catch 22 maybe?
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