What You Need to Know About the Hobby Loss Rule
Admission: Free (please register)
A community presentation for artists, donors, and professional advisors
If you pursue an artistic or creative profession, you probably don't expect to generate all your income in the beginning from your efforts. In fact, you may need to work a second job, and it might even cost you money to pursue your creative career. As a result, you'll likely need to deal with a tax regulation called the Hobby Loss Rule. In his presentation, Doug Nelson will walk through the potential impact of this rule on creative professionals and best practices to help you both pursue your passion while reducing the risk of problems with the IRS.
Doug Nelson, a senior advisor and shareholder with TCI Wealth Advisors, specializes in helping clients integrate their lifestyle goals with their wealth plans. Recognized throughout the industry for his skill as an advisor, Doug has been named regularly as a top advisor by publications such as Worth, Barron's, and Bloomberg Magazine. Doug maintains CPA licenses in California, Nevada, and New Mexico. Prior to merging his firm, AQN Advisors, Inc., with TCI Wealth Managers in 2007, Doug co-founded Ashley Quinn CPAs in Incline Village, Nevada. In 2011, he published his first book, Art, Artists, & Money. You can learn more about Doug at dougnelsoncpa.com.