Avoid IRS Red Flags - How to Give Your Hobby some Credibility

The IRS is cracking down on the Hobby Loss rules for taxpayers with Schedule C losses on their Form 1040. You can reduce your risk of an audit by using a partnership or S corporation.

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#IRS #HobbyLoss #IRSaudit

DISCLAIMER: I am a licensed attorney and certified public accountant (CPA) in the State of Florida. I am not a financial advisor. The information provided in this video is for entertainment purposes only. No such communication is provided in the course of an attorney-client relationship, and no communication is intended to constitute legal advice. You should speak with your own tax and legal professionals to discuss your circumstances before performing any of the tax, legal, or accounting strategies demonstrated in this video. Thank you.