Instructor
Jim Martin
Instructor
James (“Jim”) Martin is a true “general practitioner” in Atlanta, Georgia who, for 39 years, has specialized in both income tax and accounting and audit areas. In addition to serving the accounting and tax needs of 100 clients, Jim performs 75-80 continuing education seminars per year for CPAs and attorneys throughout the United States. To date, he has prepared and presented over 3000 full and half-day seminars on accounting and taxation topics. Jim’s philosophy of CPE is simple: spend the class time on topics of applicability and relevance to all and present the topics in an entertaining and fast moving manner. He also produces self-study videos that have been among the top sellers in the southeastern United States for the past several years. Jim regularly consults with CPA firms throughout the United States on a variety of accounting and auditing technical issues and serves as expert counsel in litigation manners.
A key focus of the thousands of new IRS agents is small businesses, primarily Schedule Cs and Schedule Es 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.
25518 Perdido Beach Blvd, Orange Beach, Baldwin County, 36561
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