Kostecke CPA

Archive for November, 2017

The Nine Factors and the Hobby Loss RuleWhether the IRS considers you a hobby or business is not as simple as looking at how profitable you are. Unfortunately, you may be running a business that is not profitable this year and has never been profitable, but it still isn’t a hobby.

There is a 9-factor test that the IRS uses to determine if your business is a legitimate Read more