Hello,I am running a small bed & breakfast with two rooms, quit a stressful job as a chef in October last year and welcomed my first guests end of January this year. It is a lot of work, with cleaning, preparing breakfasts, picking up and dropping off guests from airport and town.i am doing this as a sole trader as it was advised by my accountant and you can read the same on IRD’s website. But IRD told me now it is not a business and I have passive income. Well, at the end of a day it doesn’t feel like being passive. Why is this now not considered a business? My accountant told me, that I can claim costs against my business income which wouldn’t be possible if it is not a business.
Question submitted 23/05/20 @ 05:49am
Funding & Finance