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AccountingWEB Weekly Insight AuditWatch
Editor's Insight
Most tax preparers have encountered the client who can't quite distinguish that fine line between a hobby and business. It's up to the tax professional to explain the rules and, in many cases, help the client position what could be called a hobby so it can be considered a bona fide business activity in the eyes of the IRS. Ken Berry's article about a recent Tax Court case in which a documentary filmmaker with a day job as an attorney faced off with the IRS on the hobby loss rules.

Gail Perry, CPA
Free Web Seminar: Making Social Media Work for Business  
Former Partner at BDO Seidman LLP Sentenced to Prison for Tax Crimes
Stephen A. Favato, a resident of Point Pleasant Beach, New Jersey, and a former partner in BDO Seidman LLP's Woodbridge, New Jersey, office, was sentenced to eighteen months in prison for tax crimes, the Justice Department and the IRS announced April 16.
Excel Tip: Automatic Backup of Key Excel Workbooks
Excel expert David Ringstrom is sharing his tips for optimizing the way you use Excel in our new Excel Tips series.
New Case Spotlights 'Hobby Losses' of Filmmaker
Filmmaker Lee Storey, who produced and directed the documentary "Smile 'Til It Hurts: The Up with People Story," has emerged from a protracted battle with the IRS with a giant smile on her face.
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