Posts Tagged ‘business loss’

What is a hobby loss vs. a deductible business loss?

  • June 17th, 2021
  • David Greene
  • Comments Off on What is a hobby loss vs. a deductible business loss?

A hobby loss is not deductible, but a business loss is.  An IRS audit is usually where the question arises:  Is this “business” really a business or merely a hobby which continuously loses money?  The IRS looks at several factors…

Office Location

11 McGee Street
Greenville, SC 29601

Phone: (864) 271-7940
Fax: (864) 370-3413
Toll Free: 1-800-216-1116