So, I don't know, why don't you kick us off? Why don't you tell us what you have to share?

Well, I'm going to start out... with a refresher on the hobby loss rules.

This is like you said, this is not a new rule.

This has been around as far as I can remember becoming a CPA 30 years ago.

And what that means is if you are a sole proprietor and you have a business that you report on schedule C of an individual tax return or a farm that you put on schedule F of your personal tax return, if you annually are reporting losses for that activity, the IRS can start to view that as a hobby.

And if it's considered a hobby, you are not allowed to deduct the expenses associated with that activity.

You're supposed to report the income, but not those expenses.

You sure you got some penalties, but I'm blown away at how that's happening, happening today even.