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How the TCJA Affected Deductions for Hobbies (Accounting Web) - Itâs more than just semantics when it comes to the difference between a âbusinessâ and a âhobby.â While you can deduct ordinary and necessary business expensesâand even a lossâyou currently get zero tax benefit from hobby expenses. Thus, the stakes are often high. ADVERTISEMENT Share our news via Twitter and Facebook, on your personalized news page. MORE HEADLINES Technical Accounting: The CFOâs Secret Weapon (CFO) - A great partnership with accounting will actually help drive and influence financial results (legally, of course). Private Tax Debt Collectors Show Progress (CPA Practice Advisor) - According to the latest data, the IRS is finally putting a dent in the estimated $441 billion âtax gapâ through its private debt collection program. But thereâs still a long wayâa very long wayâ to go. Americansâ Financial Satisfaction at All-time High (JofA) - Americansâ financial satisfaction hit an all-time high in the fourth quarter of 2019, according to the AICPAâs Q4 2019 Personal Financial Satisfaction Index (PFSi). When Is The Best Time To Claim Social Security Benefits? (Forbes) - For the average American, choosing which age to start receiving Social Security will be the biggest retirement planning question. Taxation Accounting/Audit Business News |  TOP 5 MOST READ TOOLS OF THE TRADE e-BREAKS  Whose Line is it Anyway - Greatest Hit - Songs of Accounting   |