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How the TCJA Affected Deductions for Hobbies
(Accounting Web) - It’s more than just semantics when it comes to the difference between a “business” and a “hobby.” While you can deduct ordinary and necessary business expenses—and even a loss—you currently get zero tax benefit from hobby expenses. Thus, the stakes are often high.
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Technical Accounting: The CFO’s Secret Weapon
(CFO) - A great partnership with accounting will actually help drive and influence financial results (legally, of course).
Private Tax Debt Collectors Show Progress
(CPA Practice Advisor) - According to the latest data, the IRS is finally putting a dent in the estimated $441 billion “tax gap” through its private debt collection program. But there’s still a long way—a very long way— to go.
Americans’ Financial Satisfaction at All-time High
(JofA) - Americans’ financial satisfaction hit an all-time high in the fourth quarter of 2019, according to the AICPA’s Q4 2019 Personal Financial Satisfaction Index (PFSi).
When Is The Best Time To Claim Social Security Benefits?
(Forbes) - For the average American, choosing which age to start receiving Social Security will be the biggest retirement planning question.
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