We keep it simple.

As your premier financial team, Gwizdala & Associates can provide you with advice in language and formats that are accessible and clear. We are here to make your decisions easier, not “wow” you with jargon.

Your trust is our most valuable asset.

Everything we do is backed by decades of impeccable professionalism, integrity and a strong sense of personal responsibility for our clients’ financial well-being and peace of mind. Protecting your interests is our highest priority, and the only way we know how to do business.

BUSINESS VS. HOBBY

A tax issue that is being looked at more closely nowadays is if a business is for profit or viewed as a hobby. The concern arises if expenses or losses can be deductible. There is no “black and white” in this situation, but consider the manner in which activity is carried on, the expertise of the taxpayer, the time and effort applied, expectation of assets to appreciate, success of the taxpayer in carrying on similar or dissimilar activities, the history of income or losses, amount of occasional profits, financial status of the taxpayer, and the element of personal pleasure or recreation.