WEBINAR DETAILS
  • About
    Free Webinar

    Millions of people enjoy hobbies that are also a source of income. From catering to baking
    cupcakes, crafting homemade jewelry to wind chimes -- no matter what a person’s passion, we
    as tax professionals must determine if our client has a business or Hobby.
    The rules for how to report the income and expenses depend on whether the activity is a hobby
    or business.
    Sometimes the tax law is so obvious that one need not be an expert to conclude the result of a
    case. But at times we allow ourselves to be so obscured in details that we can miss the obvious,
    even in the world of complicated tax law.
    This course provides a useful overview of determining if a business venture is a hobby subject
    to limitations on deductions or if the business venture is truly a trade or business and
    deductions are fully allowed under IRC Section 162.

    1 IRS CE/1 NASBA CPE
  • Agenda
    • Extrapolate & Critique the Nine Relevant Factors
    • Examine what is a “Trade or Business”
    • Interpret the presumption that an activity is engaged for profit
    • Explore relevant case law
    • Provide and evaluate Client Questionnaire on Trade or Business Factors Regarding Profit Motive
    • Formulate a plan on how to prove an activity is a trade or business when IRS says otherwise.
  • Duration
    2 hours
  • Price
    Free
  • Language
    English
  • OPEN TO
    Everyone
  • Dial-in available
    (listen only)
    Not available.
FEATURED PRESENTERS
  • Webinar hosting presenter

    Allan J. "A.J." Reynolds

    EA
    A.J. is an enrolled agent (EA) with over thirty years of experience encompassing various areas of taxation. Though his practice centers on Individual, Business, and Estate Tax preparation, A.J. specializes in IRS Audits, Appeals, Collections,...
    Full Profile
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