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Accounting and Accountability

Oct 8, 2021

In this episode:

  • The IRS has a significant backlog processing income tax returns.  They have sent out over 9M math error notices regarding COVID relief funds.
  • The 10% penalty for taxpayers 59.5 and older from pulling funds out of an IRA is waved if the funds are being used for educational expenses.
  • IRS collection...


Sep 24, 2021

In this episode we review some of the major changes in the newest proposal, which include:

  • Corporate tax rates
  • Individual tax rates
  • Net Investment Income Tax (NIIT)
  • 199A changes
  • Estate tax and estate planning strategies

We also cover the story of Martin Shkreli, the "Most Hated Man in America".  


Sep 10, 2021

Unpaid payroll tax numbers are soaring.

1099Ks will start being issued to vendors who received more that $600 in credit card sales.

Employers who elected to defer payments on the 6.2% SS match need to look into repaying that money.

Divorced parents who use the “every other year” method for claiming children may want...


Aug 27, 2021

In this episode: 

  • Current proposals including:
    • Required Minimum Distribution age increase
    • Catch-up Contributions may be treated like Roth IRAs
    • Raising the state and local cap from a $10,000 to $15,000 deduction

The story of Jack Abramoff, known as the "Man who Bought Washington". 


Aug 13, 2021

In this episode:

If you filed for the Employee Retention Credit this is a MUST LISTEN episode.  The IRS has just announced additional guidance for this credit that may impact business that have already filed.

We also discuss the raising of the Delaware Minimum Wage.

Our story:

Dana Wein Reis goes down in flames and then...