by Leif Jensen | Mar 9, 2026 | Running a Business |
The Supreme Court’s 2024 decision in Loper Bright Enterprises v. Raimondo effectively overturned the Chevron deference doctrine, significantly impacting how all federal agency regulations, including those related to the “hobby loss” rules (Internal...
by Leif Jensen | Mar 4, 2026 | Running a Business |
Hobby vs Business; the 9 factor test Regs. Sec. 1.183-2(b) lists nine factors for determining whether a taxpayer engages in an activity for profit: 1. How the taxpayer carries on the activity. A tax preparer would first want to look for how the taxpayer handles the...
by Leif Jensen | Mar 2, 2026 | Running a Business |
For a business expense to be deductible, it generally must be ordinary and necessary or be an investment expense. Investment-related deductions under IRC §212 have largely been eliminated by the TCJA. That puts the emphasis on deductions to be tied to a trade or...
by Leif Jensen | Dec 1, 2025 | Running a Business |
I found this little tidbit on the internet, it seems to cover ground always covered with only some insite. Whether a business fails in it’s first year or tenth year, it is typically due to more than one reason. Understanding the specific causes behind small business...
by Leif Jensen | Nov 19, 2025 | Running a Business |
At one of my networking events, I was talking to someone who described their business as owning a job and not a business or a career. They were discussing what will be the survival rate of the business, meaning what is the survival rate of industry rivals. Finally,...
by Leif Jensen | Nov 17, 2025 | Running a Business |
I was reading an article that highlighted the following as issues concerning their financial stability. Lack of Funds Nothing can hold a business back like money problems. This is even more true for small businesses. While most larger companies have enough cash flow...
