If you take less money out than the fair market value of your time, it's a hobby. If you can pay yourself a fair market wage, you own a job. If your business had profit beyond your fair market wage, it's a business.

There is a section on this in my book; How To Sell My Own Business.

You see, I often direct hobby and job owners to auctioneers when it comes time to sell their 'business.'

Hope that helps to clarify things.

Cheers

Dave