 How the IRS classifies a hobby from a business — 4:30 The nine question test to determine if you have a legitimate business — 6:20 Why use separate accounts for your personal and business expenses — 11:10 This is a red flag for the IRS — 12:42 How the IRS views assets and equipment used in your business — 19:00 LINKS MENTIONED Timeular - 1st Step Accounting @NayoCarterGray (Twitter) 

Smart Books Smart Tax

How to Keep the IRS from Disallowing Your Deductions

160 million small businesses power the global economy, yet 61% struggle with cash flow and 43% are at risk of making payroll, that’s the facts! Smart Books Smart Tax is here to fight back! Every week, we sit down with top guest experts to uncover actionable tips on tax strategy, bookkeeping & accounting, cash flow management, hiring, and more. Our goal is simple: help SMBs get better.

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Smart Books Smart Tax