Ron Brangham CPA: Does the IRS Believe You Are Engaged in a Business or Hobby?

Ron Brangham, Toledo area Certified Public Accountant, shares IRS rules and checklists regarding the business or hobby dilemma that some small businesses face. Find out the details you need to know in this episode.
 
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About Ron Brangham

Ron Brangham Perrysburg CPARon Brangham CPA, of Brangham & Associates, Inc., has over 25 years experience helping small business owners maximize their bottom line, through his accounting and tax services, business consulting, and QuickBooks training and consulting.  He is also a Dave Ramsey Endorsed Local Provider – Tax Services. Ron can answer questions about Dave Ramsey’s Financial Peace program and help you to become Debt Free.

Ron and Suzanne, his partner in business and life, serve over 100 businesses and more than 300 individuals. Ron believes that the key to success is building strong and lasting relationships. He and his team are committed to creating a strong partnership by providing close, personal attention to their clients.

With Ron’s extensive knowledge of business taxation, he can minimize tax liability and maximize profit. He is  innovative, conscientious, and self-motivated with an ability to communicate with all levels of an organization.  He offers a no cost consultation to prospective business clients.

Ron is a member of both the American Institute and the Ohio Society of Certified Public Accountants, the Rotary Club of Perrysburg, and Business Networking International Perrysburg Chapter. Ron enjoys golf, working out, spending time with his family and being actively involved with his local church.

Watch other episodes with Ron Brangham of Business Cents!  Making Sense of the Business World.

5 Comments
  1. Thanks Ron for helping me understand the difference between whether an activity is a Business or Hobby!! Valuable for myself and my clients!! Loved the clarification about – a not-for-profit business vs a for-profit business and in which case deductions are allowed to exceed income! Can’t wait until your next show!!!

  2. Thanks Ron for the great information on how to determine if you are engaged in a business or hobby. You gave a great set of guidelines to help anyone make this determination and they are simple and easy to understand. Glad to know that you are there to help answer our questions in these matters! Looking forward to your next show.

  3. Great explanation about IRS rules related to business classifications and the tax implications of for-profit vs. non-profit status. Business or a Hobby….that’s a great way to look at it. Thanks for sharing your insight and information Ron. Looking forward to your next show.

  4. Ron this is great info. I had to think for a moment if my business would be considered a hobby or a business… this show really helped me to learn what the IRS would be looking for to make that determination.

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