September 24, 2025

Live Webcast

2 CPE

Hobby v. Business: What Your Clients with Small Businesses Need to Know

September 24, 2025
Live Webcast
2 CPE

Hobby v. Business: What Your Clients with Small Businesses Need to Know

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    Instructor

    Jim
    Martin

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    Jim Martin, CPA, CGMA, MAc

    Bio

    Jim Martin is the founding member of Real World Seminars of GA, LLC, a company wholly dedicated to providing “real world” oriented accounting and auditing CPE for local practitioners primarily servicing or working for privately held organizations. Jim is a true “general practitioner” who, for 30 years, has specialized in income tax, accounting and auditing areas through his local firm Martin & Co., CPA, P.C. with offices in Sandy Springs, GA. Jim performs up to 70 full day continuing education presentations per year for CPAs and attorneys throughout the United States and Canada. To date, Jim has prepared and presented over 1600 full and half-day seminars on accounting, auditing and taxation topics and was named the winner of the 2014-2015 Outstanding Discussion Leader award from the State of Alabama to add to multiple other CPE awards he has received over the past 10 years. Jim also regularly consults with CPA firms throughout the United States on a variety of accounting, auditing and litigation support issues.

A key focus of the thousands of new IRS agents is small businesses, primarily Schedule C’s and Schedule E’s on the returns of higher income taxpayers. Having an entity categorized as a hobby will result in all revenue being taxed as ordinary and all expenses (up to the amount of revenue only) being categorized as other itemized deductions subject to the 2% floor (which of course is not available until the TCJA provisions sunset in 2026). This class focuses on the certain steps taxpayers who have small businesses can make to defend their venture as a business and not a hobby, including a review of the 9 factor test utilized by the Tax Courts in making this determination. 2 hours of educational fun!

CPE Credits Available

2 CPE
2
Taxes

Things to Know About This Course

Provider

Real World Seminars

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