taxadvice

Welcome to another insightful episode of the Pilla Tax Podcast! Today, we're tackling one of the hottest topics on the minds of small business owners: the Employee Retention Credit (ERC). With over 40 years of experience in tax litigation and as the founder of the Taxpayers Defense Institute, Dan Pilla is the person to clear all your doubts.

Small businesses across the nation have been clamoring for clarification on the ERC. Questions abound:

• How long is the ERC available?
• Does the business need to have had a substantial drop in revenue to qualify?
• What was the IRS statement declaring the credit a fraud all about?

Dan Pilla, the author of 15 books and a leading authority on tax matters, provides detailed answers to these questions and more. Leveraging his unmatched expertise, Dan explains the complex provisions of the ERC, the qualifying criteria, the fraud allegations, and the critical strategies that businesses can employ to leverage this credit.

In this episode, you'll discover:

• A comprehensive understanding of the ERC
• Insights into recent IRS announcements and fraud alerts
• Tips on how to ensure your business's eligibility
• Practical guidance for claiming the ERC without running afoul of IRS rules
• The significance of the ERC for the broader tax landscape and small business community

Whether you're a business owner, tax professional, or simply interested in the ever-changing world of tax law, this episode is an essential listen.

Join us and let Dan Pilla guide you through the murky waters of the ERC, ensuring that you're informed, compliant, and ready to make the most of this essential tax credit.

Don't forget to like, share, and subscribe for more in-depth tax insights from the master himself!

Be sure to check out the Pilla Tax Academy website for all your tax resources at:
www.PillaTaxAcademy.com

YouTube: https://www.youtube.com/@pillataxacademy

FaceBook: https://www.facebook.com/pillataxacademy

Instagram: https://www.instagram.com/pillataxacademy

See omnystudio.com/listener for privacy information.

Welcome back to another exciting episode of the Pilla Tax Podcast! This week, we're thrilled to have Dan Pilla, renowned as the USA's top tax expert, delve deep into the complex world of cryptocurrency taxation.

In the rapidly evolving landscape of digital assets, the IRS's regulations can be a maze to navigate. Many are unaware of the rules, while others simply misunderstand. This lack of clarity has led to many people unwittingly incurring tax liabilities and penalties, which can be daunting and financially crippling.

But worry no more! In this episode, Dan breaks down cryptocurrency taxation like never before, translating complex IRS guidelines into simple, actionable steps for everyday investors. Whether you're an experienced crypto trader or just dipping your toes into the digital currency world, this episode is tailored for you.

Dan discusses:

• How cryptocurrencies are recognized by the IRS
• The implications of buying, selling, and trading cryptocurrencies
• Reporting requirements and tax obligations for crypto transactions
• Potential penalties for non-compliance
• Recent IRS enforcement activities in the crypto space
• Practical strategies for tax planning and compliance

This episode is more than just a tax lesson; it's an essential guide for anyone dealing with cryptocurrencies. So, buckle up and get ready to uncover the secrets of crypto taxation, demystified by none other than Dan Pilla himself!

Remember, knowledge is power. Equip yourself with the right tools to avoid unnecessary tax pitfalls and fully embrace the potential of your cryptocurrency investments.

Don't forget to like, share, and subscribe to our channel for more invaluable tax advice from Dan Pilla.

Watch now, and make sure your crypto journey is a smooth one!

#PillaTaxPodcast #CryptocurrencyTaxation #DanPilla #IRS #CryptoTax #Bitcoin #Blockchain #DigitalAssets #TaxAdvice

See omnystudio.com/listener for privacy information.

• What makes the tax laws in the US different from other countries
• How to proactively manage taxes as an investor or business owner
• The importance of having a skilled bookkeeper in your team
• Common IRS audit triggers you need to be aware of
•  What entity is more at risk for an IRS audit? 

Resources/Links Mentioned In This Episode

• Internal Revenue Service
• ExpensePoint
• SaneBox 
• Bench Accounting

Are you fully prepared for an unexpected visit from the IRS? Don't worry! Our FREE IRS guide has got you covered with a comprehensive audit readiness plan, guiding you through every step from A to Z. Get it here: www.freeirsguide.com   

About Atty. Claudia Moncarz

Claudia Moncarz is a frequent speaker at seminars on topics including tax planning, representation in front of the IRS, and doing business in the U.S. She has been named a Rising Star by Super Lawyers and is AV Preeminent rated by Martindale Hubbell, the highest rating available for lawyers. Claudia Moncarz was also a Concordia University - Law School adjunct tax professor. She taught income taxation and corporate taxation. Claudia Moncarz is also fluent in Spanish.

Connect with Atty. Claudia

• Website: Moncarz Law Firm

Connect With Us

To connect with Saket Jain, as well as with other Migrate 2 Wealth listeners, and get the latest scoop on new and upcoming episodes, join Migrate 2 Wealth Community on Facebook.

Follow Our Social Media Pages!

• LinkedIn: Saket Jain
• Instagram: @migrate2wealth
• Twitter: @Migrate2Wealth
• YouTube: Migrate 2 Wealth
• TikTok: @migrate2wealth

In the 4th episode of season 2,  Natalie is joined by Zoe Peck, a Tax Advisory Partner for Mazars, to discuss how different tax structures can be used pre, post, and during the transition of succession. They consider different options available for family businesses to structure their planning in a way that allows them to limit tax leakage and maximise profit extraction without putting the integrity of the business at risk, and whilst also allowing them to protect their long-term legacies.

Special Guest

Zoe Peck

Zoe.Peck@mazars.co.uk

Related Links

Mazars Family Business Services

Exploring Family Business Podcast Season 1

Exploring Family Business Podcast Season 2

Family Business Survey 2020