Understanding the Hobby Loss Rules - 0.2 CPEWhen a Business Isnt Really a Business the IRS Decides. Clients often believe that consistent effort automatically qualifies an activity as a business. The IRS disagrees. Misclassifying a hobby as a business can lead to denied deductions, penalties, and unpleasant audit outcomes. This course gives you a clear, practical understanding of how the IRS evaluates hobby losses so you can guide clients correctly and protect them from avoidable tax exposure.

Identify the requirements and tax benefits associated with Health Savings Accounts under IRS rules

Learn how content

tax-free investment growth

Reposition payroll from a low-margin task into an advisory gateway with recurring service opportunities

dealing with excess deductions upon termination

the recognition of deferred QOF income from the original program

Publication Date: 4/7/2023

and the Fraud Blotter

including changes from the OBBBA taking effect in 2025

and exchange procedures must be followed carefully to preserve tax deferral treatment

including eligibility requirements and IRS transitional reporting guidance

This course gives you the clarity needed to determine when the deduction applies — and when it doesn’t — so you can guide clients accurately during this limited opportunity