Anyone in the DFW area? I’m interested in finding a financial advisor that avoid and/or escape the Hobby Loss Rules whom also is gainfully self-employed via another entity - ie their Tax/Accounting business. I understand that this topic has been discussed but realize the tax laws are fluid. I’m launching a business (not bait making) in the fishing industry and seek meaningful guidance. Feel free to PM me.

Note that all the normal “profit motive” characteristics have been completed including: business plan, DBA, Business checking, Business address, etc. The pre/startup costs did not exceed $5k and I have several thousand encumbered for advertising/marketing (wraps, branded clothing, etc.)

For example, if you fail to make a profit in 3 of the first 5 years, are you at risk of them clawing back on prior returns?