
Wednesday Nov 30, 2022
12 \\ Is Your Side Hustle Breaking IRS Rules? Avoid These Costly Mistakes!
Are you worried that your side hustle or small business might look like a hobby to the IRS? In this episode, we break down the IRS’s hobby loss rules and show you how to protect your business from being flagged as a hobby. You’ll learn what it takes to prove you’re running a for-profit business, the red flags the IRS looks for, and practical steps to stay compliant. Plus, we dive into two real-life case studies where business owners successfully defended their losses against the IRS. Whether you’re just starting out or still navigating those early loss-making years, this episode is packed with tips to keep your business on the right track. Don’t let IRS audits hold you back—tune in now and get the clarity you need!
Next Steps:
💰Pay Less in Taxes – Start Here! 💰
☎️ Are you overpaying in taxes every year? Schedule a FREE discovery call to find out!
📧 Contact Me --> hello@phillipsbusinessgroup.com
📲 Follow me on IG @ the.tiffany.p.cpa
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