Archive for November 2025

Is Your Activity a Hobby or a Business? Understanding the Difference Determining whether an activity qualifies as a business or a hobby can be tricky — and it can have a big impact on tax treatment. The IRS looks closely at intent of profitability to decide which category fits best. Hobby vs. Business — what’s…

As we surge through the final quarter of the year, it’s important to know that your business checking account balance might not be telling the full story. With the holiday season approaching, many businesses face a combination of increased expenses, the decision of whether or not to take final distributions in December, holiday bonuses, and…