Business or Hobby? IRS Factors to Consider

July 23, 2019
Hosted by Candy Messer

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Episode Description

Whether it’s the startup of your dreams, that side-gig to which you devote all your spare time, or your main moneymaker, if you’ve taken a big loss in your endeavor, while deducting your expenses as that of a business, there comes a time when the IRS will question whether you’re running a business or simply have a hobby. Businesses often lose money in the first few years of operation, but it’s expected that a legitimate endeavor will eventually begin to make a profit. Listen in to our show to learn the factors the IRS uses to determine if the activity is a business or hobby.

Biz Help For You

Biz Help For You

Tuesday at 2 PM Pacific Time on VoiceAmerica Business Channel

Our show is education-based to give information to entrepreneurs to help them know the rules and regulations that need to be followed to help them avoid penalties and keep them in compliance. It also offers tips for success in various areas including marketing, website design, budgeting, understanding information on financial reports and more.

By listening to this program, you will learn about specific regulations in the areas of business licenses, payroll, sales tax (for online and brick and mortal sellers), 1099 processing and other compliance tasks. You will also hear tips from experts to help you manage and grow your business to be more profitable.

Topics will include labor law updates, creating systems and processes, building a team, understanding the differences, features and benefits of desktop versus cloud based software, creating a marketing plan, and other important topics for entrepreneurs. Tune in Tuesdays at 2 PM Pacific Time on VoiceAmerica Business.

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Candy Messer

Candy Messer

Candy Messer is President of Affordable Bookkeeping and Payroll Services. She offers entrepreneurs customized services to meet their varying needs including bookkeeping, payroll, QuickBooks consulting and bill pay services. With more than 20 years of experience, Candy understands the stresses business owners face. By removing the burden of the financial tasks, she gives them peace of mind and the freedom to do what they love.

Candy is co-author of “Business Success With Ease” released in 2013 and “Navigating Entrepreneurship” released in 2014 and was an expert writer for Today’s Innovative Woman and Thriving Women in Business magazines.

Candy was named 2010 Woman of the Year by the Peninsula ABWA, 2011 Entrepreneur Mom of the Year by Today’s Innovative Woman Magazine, and 2012 El Camino Foundation Distinguished Alumni. Affordable Bookkeeping and Payroll was named 2016 Small Business of the Year by the Torrance Chamber and Intuit’s (creator of QuickBooks software) 2016 Firm of the Future.

Candy also serves as President of the South Bay Business Women’s Association. She is married with two grown children, a grandson, and lives in California. When not running her company or the association, Candy enjoys reading, crocheting, logic puzzles and spending time with friends.

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Episode Directory

July 2019

  • 7/30/2019: Sales Tax: Wayfair Case - What it Means for Businesses Selling On Coming Soon
  • 7/23/2019: Business or Hobby? IRS Factors to Consider Listen Now
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