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Tax Season Therapy The Tweets Of Andrea Carr CPA

Do you think it’s a coincidence that Girl Scout cookies are sold during tax season? I think not . –  Andrea Carr CPA The tweeting of Andrea Carr CPA was one of the high points of this tax season, my fortieth and last.  I’m not done yet.  As hobbits...

How To Win An IRS Hobby Loss Audit

Originally published on Forbes.com. Taxpayers can and do win hobby loss cases and advisers can guide them in going into the game with a winning hand.  That’s my conclusion from a pretty deep dive into Code Section 183-Activities not engaged in for profit.  I...

IRS Hobby Loss Regulation – Goofy Says Judge And I Agree

Originally published on Forbes.com. Having a judge refer to an IRS regulation as “goofy” is not a good thing.  Fortunately, it has only happened once and not that long ago.  In 2016 Judge Richard Posner in overturning a Tax Court decision in the case of...

Tax Advisers Are Too Afraid Of The Hobby Loss Rules

Originally published on Forbes.com. Tax advisers are too conservative in claiming business losses for activities that seem to smack of being hobby loss cases and writers like me are partially to blame. That is my conclusion from a deep dive into studying decisions...