Your Business under the IRS’s Hobby Loss Rules – EliFinancial to Host Live Webinar with Eric Green

EliFinancial will host a webinar presented by expert speaker Eric Green on how to protect your client?s business from being deemed a hobby, on Wed, April 26, 2017.

EliFinancial will host a Live Webinar presented by noted expert Eric Green, titled ?Is it a Business or Not? Dealing with the IRS Hobby Loss Exam? on Wed, April 26, 2017. This session aims to explore the IRS hobby loss rules and how practitioners can best help their clients defend their enterprise from being deemed a hobby.

Once a business suffers a loss, or a string of losses, the IRS?s scrutiny on that business increases. The IRS begins to question the underlying operation itself. In an attempt to restrict the taxpayer from taking the losses for tax purposes, the IRS may deem an enterprise a hobby instead of a business. For tax practitioners who work on tax returns for small, closely held businesses, and individuals, as well as practitioners who represent taxpayers before the IRS, understanding what makes the IRS deem an enterprise a hobby rather than a business is essential. Practitioners and taxpayers must understand the factors the IRS uses to determine if the taxpayer is running a business or involved in a hobby.

Join expert Eric Green, in this extensive session to understand the hobby loss rules and how practitioners can help their clients defend their enterprise from being deemed a hobby. He will provide details on what a tax preparer should consider when preparing a tax return where the hobby loss rules might come into play. Eric will walk through the exam process and discuss what is special about a hobby loss exam, and how to prepare the client and the case for the best outcome. He will discuss what clients should do to make sure they meet the IRS test for qualifying as a business. He will not only cover the IRS rules but also what taxpayers and practitioners need to do to properly prepare for the exam and how to handle the exam.

For more information visit: https://www.elifinancial.com/taxation/irs-hobby-loss-exams

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About EliFinancial

Eli Financial, a division of AudioSolutionz, is a leading online training platform for tax and banking professionals. It focuses on providing high-quality information, training, products and resources on things that matter in the banking and finance industry. Eli Financial?s webinars, DVDs, books and other training products are customized for U.S. lenders and tax practitioners and covers the latest updates from the IRS, CFPB and other regulatory authorities. It has provided thousands of tax professionals the opportunity to get answers to their most complex questions directly from experts. To know more visit https://www.elifinancial.com/

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