tax code

In this episode, Roger Harris is joined by special guest Blake Oliver to unpack some of the biggest tax stories making headlines. From a federal court ruling deeming a new business reporting law unconstitutional to the staggering estimates of tax evasion by the wealthy. They also dive into the IRS's foray into direct filing for simple returns, the potential role of AI in tax preparation, and how states rank in their tax climates for businesses.

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• (00:00) - Welcome To Federal Tax Updates
• (01:11) - Special Guest Blake Oliver Joins the Show
• (02:36) - Diving into the Controversial Federal Court Ruling on Company Reporting Law
• (05:39) - Exploring the Implications of the Unconstitutional Ruling for Small Businesses
• (18:54) - IRS's Efforts to Tackle Tax Evasion by Millionaires and Billionaires
• (29:49) - The IRS Direct File System: A Move Towards Free Tax Filing
• (30:36) - Exploring the IRS's New Tax Filing Program
• (31:19) - The Cloud Accounting Podcast Begins
• (31:36) - Potential Impact on Tax Preparers
• (33:10) - Limitations and Design of the New Tax Tool
• (34:50) - The Complex World of Business Returns
• (36:06) - AI's Role in Tax Preparation: Hopes and Hurdles
• (42:30) - IRS's Paperwork Problem and Electronic Filing
• (47:42) - State Business Tax Climate Index: The Best and Worst States
• (56:15) - Closing Thoughts and Future Discussions

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Annie Schwab

Connect with Blake Oliver

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This podcast is a production of the Earmark Media

The full transcript for this episode is available by clicking on the Transcript tab at the top of this page

All content from this podcast by SmallBizPros, Inc. DBA PADGETT BUSINESS SERVICES is intended for informational purposes only.

Here's an excerpt from next week's Federal Tax Updates podcast, Episode 27. Blake Oliver joins Roger to discuss the latest tax news headlines including how the Corporate Transparency Act has been ruled unconstitutional. Be sure to download the full episode, Monday, March 11, to hear the entire discussion.

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Annie Schwab

Connect with Blake

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This podcast is a production of the Earmark Media

The full transcript for this episode is available by clicking on the Transcript tab at the top of this page

All content from this podcast by SmallBizPros, Inc. DBA PADGETT BUSINESS SERVICES is intended for informational purposes only.

As tax season kicks off, Annie and Roger discuss tips for practitioners and taxpayers, including using e-file and direct deposit for fastest refunds, being vigilant about IRS scam alerts, reviewing Circular 230 rules on duties and liabilities, and evaluating your processes after April to improve efficiency. They also touch on state filing deadlines, new disaster relief forms delaying state returns, and the importance of obtaining complete information before filing.

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• (00:00) - Federal Tax Updates Episode 26
• (02:33) - Tips for Taxpayers and Practitioners
• (04:48) - Understanding State Tax Laws
• (06:54) - Challenges in Filing Business Returns
• (12:23) - Importance of Security in Tax Preparation
• (15:45) - Understanding Circular 230 and Practitioner's Responsibilities
• (21:17) - Efficient Workflow Management during Tax Season
• (29:01) - The Importance of Pricing Structure
• (30:36) - Beware of Scammers: Protecting Your Practice
• (34:16) - Employee Retention Credit: What You Need to Know
• (44:27) - The Impact of Beneficial Ownership
• (51:52) - Wrapping Up

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Annie Schwab

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This podcast is a production of the Earmark Media

The full transcript for this episode is available by clicking on the Transcript tab at the top of this page

All content from this podcast by SmallBizPros, Inc. DBA PADGETT BUSINESS SERVICES is intended for informational purposes only.

Hi All, 

Today we are getting taxed to the end of the earth by our government in all forms. While it is important that we follow the law regarding taxation, it is also important that we speak up and do what we can to fight for what is fair in this world. 

In today's podcast, I go over some important topics such as: 

- Different types of taxes
- What makes Bitcoin different from homeownership
- The future of taxes and what it may mean for homeownership and bitcoin
- Being taxed to no end through many different avenues
- Smart ways to set one's life to optimize the tax code
- Business structures to optimize one's taxes
- Reducing one's footprint moving into and out of assets frequently
- The importance of following the law, and working strategically to get the government to change the tax code

Overall these are some of my thoughts on Bitcoin being better than home ownership. What do you think about this as it relates to taxes? Will we see a more favorable tax code in the future as it relates to Bitcoin or homeownership taxes?

Best Regards,

SatsMates

Bitcoin Buys: https://invite.strike.me/2MSTYG

Financial Disclaimer: Nothing stated in this video is a recommendation from SatsMate to buy or sell a particular security or asset class. It would help if you wisely considered your tolerance for risk, time horizon, and financial goals before making an investment. With investing, you risk losing money, always read an investment prospectus and make an informed decision before allocating capital to a particular investment.

Youtube: SatsMate
X: SatsMate
Instagram: SatsMates
website: www.satesmate.com

Roger and Annie kick off the 2024 tax season by explaining the new beneficial ownership reporting requirements under the Corporate Transparency Act. They detail who must comply, what information must be disclosed, and the tight deadlines and penalties involved. They also discuss whether accountants should assist clients with these complex filings or refer them to attorneys. Additionally, Annie provides an update on navigating ERC claims during the current filing season and Roger warns listeners to pay attention to potential last-minute tax law changes from Congress.

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• (00:00) - Welcome To Federal Tax Updates Episode 25
• (01:11) - The 2024 Tax Season
• (01:57) - Beneficial Ownership Interest Reporting
• (02:58) - Understanding the Rules and Implications
• (03:41) - Exploring the Corporate Transparency Act
• (04:20) - Impact on Small Businesses
• (07:12) - Challenges and Concerns with the New Law
• (08:21) - Defining Beneficial Owners
• (10:30) - Understanding the Reporting Process
• (12:33) - Discussion on the Challenges of Compliance
• (15:52) - Advice for Navigating the New Law
• (23:10) - What Should People Be Doing Right Now?
• (40:05) - Updates on the Employee Retention Credit
• (44:23) - Final Thoughts and Thanks For Listening

Connect with the Hosts on LinkedIn
Roger Harris
Annie Schwab

Review
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This podcast is a production of the Earmark Media

The full transcript for this episode is available by clicking on the Transcript tab at the top of this page

All content from this podcast by SmallBizPros, Inc. DBA PADGETT BUSINESS SERVICES is intended for informational purposes only.

Jackie explains how she would change the tax code if she had the power of our elected officials. Plus, the concerns over digital currency taking over and what does "B2R" mean and how can it help small business owners? 

For more information or to schedule a consultation call 727-334-0024 or visit www.mycampbellandco.com 

See omnystudio.com/listener for privacy information.

Get ready for the 2024 tax season with Roger and Annie! They cover critical deadlines, documentation tips, e-filing requirements, ERC updates,  and other need-to-know changes that affect small businesses and tax preparers this year.

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Links mentioned in this episode

Chapters

• (00:00) - Welcome To Federal Tax Updates Episode 24
• (01:18) - Summary of employee retention credit and updates
• (02:48) - Overview of voluntary program for repaying improperly claimed credits
• (08:50) - Key details on the voluntary program
• (13:03) - Importance of documentation for ERC claims
• (15:41) - Origins and intentions of the ERC program
• (19:14) - Potential changes to ERC in Congressional budget negotiations
• (23:28) - Other letters and updates on ERC claims
• (25:21) - Expectations for further ERC guidance
• (29:34) - Using protective claims when amending returns
• (32:41) - Advice for taxpayers who used third parties for ERC claims
• (36:53) - Upcoming dates and other filing season reminders
• (42:29) - Thanks for listening and remember to subscribe

This podcast is a production of the Earmark Media

The full transcript for this episode is available by clicking on the Transcript tab at the top of this page

All content from this podcast by SmallBizPros, Inc. DBA PADGETT BUSINESS SERVICES is intended for informational purposes only.

In this episode of Federal Tax Updates, hosts Roger Harris and Annie Schwab are joined by special guest Megan Killian, Executive Vice President of the National Association of Enrolled Agents (NAEA).
 Megan discusses her background in association management and her role leading NAEA, the premier organization representing the interests of Enrolled Agents. She talks about the benefits of NAEA membership for EAs, including advocacy, education, community, and support obtaining the credential.
 The discussion covers NAEA's strategic priorities like membership growth, how the EA credential compares to the CPA, and efforts to address the talent shortage by promoting the EA path, including to accounting students and career changers.
 Megan also shares details on NAEA's ongoing fight to regulate paid tax preparers and protect taxpayers from unethical or incompetent preparers. Additional topics include getting involved with NAEA and using its resources to advance your career as an EA.

• (00:00) - Federal Tax Updates: Why Become An EA?
• (00:50) - Welcome Megan Killian to the show
• (01:36) - Megan's background and role at NAEA
• (03:41) - Benefits of NAEA membership for Enrolled Agents
• (05:39) - NAEA leadership and strategic priorities
• (08:42) - Promoting the Enrolled Agent credential
• (11:34) - Comparing EAs, CPAs, and other tax professionals
• (14:39) - The declining number of accounting majors and CPAs
• (18:23) - The EA exam as a faster credentialing path
• (20:25) - Addressing the talent gap by hiring EAs
• (23:16) - Helping employees become EAs
• (26:33) - Regulating paid tax preparers
• (30:27) - Efforts to pass federal preparer regulation
• (32:23) - Getting involved with NAEA
• (34:42) - Where to reach Megan and learn more

Learn more about becoming an EA https://www.naea.org/

Connect with Megan Killian
LinkedIn: https://www.linkedin.com/in/megkillian
Website: https://www.naea.org/about-naea/naea-evp

Connect with the Hosts on LinkedIn
Roger Harris
Annie Schwab

Review
Leave a review on Apple Podcasts or Podchaser

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Subscribe to the Federal Tax Updates podcast in your favorite podcast app!

This podcast is a production of the Earmark Media

The full transcript for this episode is available by clicking on the Transcript tab at the top of this page

All content from this podcast by SmallBizPros, Inc. DBA PADGETT BUSINESS SERVICES is intended for informational purposes only.

With tax provisions constantly expiring and major questions looming about the future of the tax code, uncertainty reigns. Roger, Annie, and guest Thad Inge break down the state of play on tax extenders, the likelihood of action on expiring tax cuts, and the challenges businesses face in planning amidst the uncertainty.

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• (00:00) - Welcome to Federal Tax Updates
• (02:36) - State of Congress
• (07:40) - Secure Act Overview
• (10:55) - Government Shutdowns and Funding
• (14:49) - Potential Tax Changes
• (20:23) - Tax Cuts and Jobs Act
• (28:55) - IRS Plans for Additional Funding
• (35:20) - IRS Improvements Seen So Far
• (43:36) - ERC Status and Issues
• (51:24) - Wrap up and thanks for listening

Connect with Thad Inge
LinkedIn: https://www.linkedin.com/in/thad-inge-9342155
Website: https://www.vsadc.com/

Connect with the Hosts on LinkedIn
Roger Harris
Annie Schwab

Review
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Subscribe
Subscribe to the Federal Tax Updates podcast in your favorite podcast app!

This podcast is a production of the Earmark Media

The full transcript for this episode is available by clicking on the Transcript tab at the top of this page

All content from this podcast by SmallBizPros, Inc. DBA PADGETT BUSINESS SERVICES is intended for informational purposes only.

Using QSEHRA can save you money on Employee Health Insurance - Boris Musheyev, Tax Advisor

🩺✨ In this episode, we delve deep into how business owners can use Qualified Small Employer Health Reimbursement Arrangement (QSEHRA) to save you money on Employee Health Insurance. This tax strategy is optimal for tax savings. If you're a business owner looking to navigate the complex world of health insurance and seeking strategies to maximize your tax benefits, you're in the right place. 📊💡

Discover:
🩺The advantages of QSEHRA over traditional group health plans.
🩺How to integrate QSEHRA seamlessly into your business model.
🩺The tax strategy every business owner should know to save thousands annually.

I've put together this FREE resource for you:

7 Write-Offs Every S-Corporation Business Owner MUST Know
🆓 Download FREE PDF here: https://bit.ly/podcast7writeoffs

Ready to start saving money on your taxes?
☎️ Schedule your FREE Tax Advisory Session: www.TaxPlanningCall.com

🤩 If you are looking for easy-to-use payroll software, I personally use and recommend to my clients Gusto Payroll Software - https://gusto.com/r/boris466 P.S. When you sign up for Gusto, you get a $100 Visa gift card

*Disclaimer This material & presentation content is for informational and educational purposes only. This material and presentation content is designed to provide general information regarding the subject matter covered. It is not intended to serve as legal, tax, or other financial advice related to individual situations. Because each individual’s legal, tax, and financial situation is different, specific advice should be tailored to the particular circumstances. For this reason, you are a...

Dave Gribben shares insights on how his firm navigated ERC complexities through client communication, staff training, and establishing trust to overcome questionable third-party fraud claims.

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• (00:00) - Welcome To Federal Tax Updates
• (04:30) - Communicating with clients at the start of the pandemic
• (08:11) - Making information available as a service to the community
• (10:03) - Transitioning to a remote work model
• (17:18) - Handling client expectations around ERC
• (26:42) - Preparing for audits and potential repayment
• (36:54) - Importance of staying informed on programs like ERC
• (43:51) - IRS guidance delaying Form 1099-K requirement

Connect with Dave
https://www.linkedin.com/in/dave-gribben-52439961

Connect with the Hosts on LinkedIn
Roger Harris
Annie Schwab

Review
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Subscribe
Subscribe to the Federal Tax Updates podcast in your favorite podcast app!

This podcast is a production of the Earmark Media

The full transcript for this episode is available by clicking on the Transcript tab at the top of this page

All content from this podcast by SmallBizPros, Inc. DBA PADGETT BUSINESS SERVICES is intended for informational purposes only.

Joey Vrooman, CPA, joins the show today and helps explain the importance of working to educate clients on financial literacy, despite common disinterest. He discusses tactics for simplifying complex terminology, using visual tools, meeting clients at their level, and the "win win" benefits for both advisor and business owner.

Sponsors
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• (00:00) - Federal Tax Updates Episode 21
• (01:11) - Welcome Joey to the show
• (03:02) - Defining financial literacy
• (06:04) - Teaching clients to understand finances
• (16:02) - Understanding client personalities and tailoring communication
• (18:54) - Managing pricing and margins during inflation
• (22:57) - Keeping financial information simple yet accurate
• (27:33) - Answering client questions on financial decisions
• (30:42) - Documentation to protect against liability risks
• (33:48) - Year-end tax planning with clients
• (39:28) - Confusion caused by media coverage and ERTC mills
• (43:32) - Wrap up and remember to subscribe

Connect with Joey
https://www.linkedin.com/in/joey-vrooman-cpa-87371568

Connect with the Hosts on LinkedIn
Roger Harris
Annie Schwab

Review
Leave a review on Apple Podcasts or Podchaser

Subscribe
Subscribe to the Federal Tax Updates podcast in your favorite podcast app!

This podcast is a production of the Earmark Media

The full transcript for this episode is available by clicking on the Transcript tab at the top of this page

All content from this podcast by SmallBizPros, Inc. DBA PADGETT BUSINESS SERVICES is intended for informational purposes only.

Roger and Annie discuss key steps tax practitioners should take before the new year, including renewing PTINs, reviewing engagement letters, having tax planning conversations with clients, and learning about new beneficial owner reporting rules.

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• (00:00) - Welcome to Federal Tax Updates
• (04:07) - Preparing for next tax season
• (06:48) - IRS updates
• (11:02) - ERC updates
• (22:04) - Withdrawing ERC claims
• (31:47) - Repaying ERC funds
• (41:44) - Beneficial ownership reporting
• (51:35) - Timing of beneficial ownership reporting

Connect with the Hosts on LinkedIn
Roger Harris
Annie Schwab

Review
Leave a review on Apple Podcasts or Podchaser

Subscribe
Subscribe to the Federal Tax Updates podcast in your favorite podcast app!

This podcast is a production of the Earmark Media

The full transcript for this episode is available by clicking on the Transcript tab at the top of this page

All content from this podcast by SmallBizPros, Inc. DBA PADGETT BUSINESS SERVICES is intended for informational purposes only.

Todays episode Troy teaches you the proper way to build your financial house that will stand the test of time! This is a blueprint for financial success that enables you to withstand taxes, fee's, market risk and inflation.

Want more tips on wealth strategies?

Click this link to watch a Free video on how to increase cash flow and minimize taxes - https://wealthstrategiestovalue.com/m...

🚨 WATCH THE PODCAST ➡️ https://youtube.com/channel/UCInwRoJc...

CONNECT ON SOCIAL MEDIA

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Expert guest Jeff Darley joins Roger and Annie to discuss how to choose the right business entity for small business owners. They cover LLCs vs S-Corps, reasonable salary, payroll taxes, and more.

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• (00:00) - Federal Tax Updates Episode 18
• (02:17) - Background on Jeff Darley
• (15:03) - Payroll Taxes and Social Security
• (19:59) - S Corp vs C Corp
• (25:40) - Dealing with IRS on Reasonable Salary Audits
• (32:34) - Process of Electing S Corp Status
• (39:43) - Estimated Tax Payments
• (43:37) - Selling a Business - S Corp vs C Corp

Connect with the Hosts on LinkedIn
Roger Harris
Annie Schwab

Connect with Jeff Darley
Website : https://littleton.padgettadvisors.com/our-team.php
LinkedIn : https://www.linkedin.com/in/jeff-darley-77839b2
Review
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This podcast is a production of the Earmark Media

The full transcript for this episode is available by clicking on the Transcript tab at the top of this page

All content from this podcast by SmallBizPros, Inc. DBA PADGETT BUSINESS SERVICES is intended for informational purposes only.

Join me as we highlight one of my clients/friend Jeff Hesser. Jeff tells his story of how he was on top of the world, healthy, prosperous, outgoing.He thought he was invincible and nothing was ever going to happen to him. Out of nowhere he had a stroke and had to rebuild his life. His purchase of a disability insurance policy saved his life both physically and financially.


Want more tips on wealth strategies?

Click this link to watch a Free video on how to increase cash flow and minimize taxes - https://wealthstrategiestovalue.com/m...

🚨 WATCH THE PODCAST ➡️ https://youtube.com/channel/UCInwRoJc...

CONNECT ON SOCIAL MEDIA

Instagram ➡️ https://instagram.com/shortsandassoci...
Facebook ➡️ https://m.facebook.com/pages/category...

Apply to work with me here - https://calendly.com/wealthstrategies...

Check out my resources!

Click Here To Join The Financially Bulletproof Investing Course! 

Click Here To Download my Free Financially Bulletproof Checklist

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In this episode, we dive deep into the world of tax strategies with our special guest, Grant Doherty, a tax advisor based in Houston, Texas. 

Grant shares valuable insights into three tax strategies that can help you legally reduce your tax liability. This episode provides essential tips for optimizing your finances, from supercharging your retirement savings to leveraging the home office deduction and the power of cost segregation for real estate investors.

Timestamps:

[02:50] Grant's introduction to taxes
[06:50] Number one tax strategy
[11:10] Number two tax strategy
[17:30] Number three tax strategy
[20:50] Deducting a loss on your taxes
[24:25] Spend a dollar to save a dime
[25:50] Grant's ebook
[27:10] Closing

---

Connect with Me!

Instagram: @BetterWallet

TikTok: @BetterWallet

Twitter: @TheBetterWallet

YouTube: @BetterWallet

In this episode, Roger and Annie cover recent federal tax updates and urge tax professionals to gear up for the October 15 extension by assessing their performance and contemplating tax software changes. They delve into rising IRS audit notices for the Employee Retention Credit (ERC), the new 1099-K reporting threshold, the IRS's halt on surprise visits by revenue officers, and the impending Corporate Transparency Act.

Sponsors
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Get NASBA Approved CPE or IRS Approved CE
Launch the course on EarmarkCPE to get free CPE/CE for listening to this episode.

Connect with the Hosts on LinkedIn
Roger Harris
Annie Schwab

Review
Leave a review on Apple Podcasts or Podchaser

Subscribe
Subscribe to the Federal Tax Updates podcast in your favorite podcast app!

This podcast is a production of the Earmark Media

The full transcript for this episode is available by clicking on the Transcript tab at the top of this page

All content from this podcast by SmallBizPros, Inc. DBA PADGETT BUSINESS SERVICES is intended for informational purposes only.

• (01:02) - Welcome to Federal Tax Updates : how to be proactive
• (08:26) - What's new with ERC
• (11:43) - Estimated tax payments or adjusting withholdings
• (14:05) - The start of IRS notices and what do they mean?
• (16:15) - How to respond to an IRS Notice?
• (28:51) - What kind of documentation does the IRS expect small business owners to have?
• (37:10) - Updates on 1099-Ks
• (46:32) - New changes in policy for the IRS
• (48:26) - Updates on the Transparency Act
• (54:17) - Making changes to your overall work environment
• (55:25) - Remember to subscribe so you don't miss an episode

In this enlightening episode of the Mark Moss Show, Dutch Mendenhall—Co-founder and CEO of Rad Diversified, President of the Alternative Investment Association, founder of THE RAD, and the author of "Money Shackles"—dives deep into the financial struggles and misconceptions that chain many Americans.

From understanding debt as a tool and challenging the economic discrimination in accredited vs. non-accredited investments, to the potential of American farmland and the powerful impact of financial knowledge, Dutch offers a fresh perspective on financial freedom.

Get insights into the vibrant world of real estate, economic discrimination, and the power of the right mindset.

See omnystudio.com/listener for privacy information.

On this episode Roger and Annie review strategies for tax pros to strengthen their firms, including evaluating clients and fees, developing a niche, implementing new technologies, transitioning to subscription pricing, and creating a succession plan.

Sponsors
Padgett -  Contact Padgett or Email Jeff Phillips

Get NASBA Approved CPE or IRS Approved CE
Launch the course on EarmarkCPE to get free CPE/CE for listening to this episode.

Chapters

• (00:00) - Federal Tax Updates Episode 14
• (01:33) - Welcome to Federal Tax Updates
• (10:26) - What to do with a client that is not experienced with technology?
• (14:43) - What technologies can be brought to improve your service?
• (20:51) - What can developing a niche do to help your firm?
• (30:26) - What do people mean when they talk about Subscription Pricing?
• (39:10) - IRS released OPR information reminders for succession plans
• (48:16) - Recent IRS updates to be aware of.
• (53:20) - Thanks for listening and please subscribe so you don't miss an episode

This podcast is a production of the Earmark Media

The full transcript for this episode is available by clicking on the Transcript tab at the top of this page

All content from this podcast by SmallBizPros, Inc. DBA PADGETT BUSINESS SERVICES is intended for informational purposes only.