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Accounting and Accountability

Sep 22, 2023

In this episode:

  • How long should you really keep tax documents?
  • C-Corp & 1040 tax deadline is 10/16/23.
  • New beneficial  ownership reporting starts on 1/1/2024.  There will be steep penalties for noncompliance. 

We also talk to Lisa Ratliff and Shannon Mercer of The Little School.  We hear about the school's long...

Sep 8, 2023

In this episode: 

  • Talks of expanding Net Investment Income Tax.
  • Simple IRA may be a good fit for your business.
  • Extension of IRA catch-up contributions.
  • Brokers have new digital sale reporting requirements.
  • IRS is increasing interest rates.

We are joined in the studio by George Dobbins, owner and trainer at CrossFit...

Aug 25, 2023

In this episode:

  • Avoid heavy penalties by disclosing any accounts you hold in other countries that total over $10,000.
  • "Back door tax increase" created by new 401(k) catch-up contribution rule.
  • Revocable Trusts: explanations and best practices.

We also hear from Todd Stonesifer, President of The Moving Experience, a...

Aug 11, 2023

In this episode:

  • Continuing issues and scams with ERTC.
  • Be vigilant for cyber-fraud attacks.
  • Issues with inaccurate penalty notices.
  • The IRS announces that they've lost tax...

Jul 28, 2023

In this episode:

  • Inherited IRAs - Different rules on distribution requirements.
  • New IRS targets for LLCs and LLPs. 
  • Mortgage interest limitations on personal residence and secondary homes.
  • New IRS scam arriving in the mail. 
  • IRS says they will no longer be conducting surprise on-site visits. 

We are also joined in the...