Dec 30, 2022
In this episode we discuss:
- Worker Classification: The IRS is still taking a hard look at the distinction between an employee and a contractor. Make sure you've identified your workers correctly.
- Passive Loss Rules: Know the rules of what you can claim from passive activities.
- 1099K new filing rule, which was going...
Dec 16, 2022
In this episode:
- We review itemization rules and strategies for 2022 returns.
- Tax season will end on April 18, 2023, but don't leave your preparer in a bind by waiting until the last minute.
- Certain digital currency and digital asset transactions are taxable. Make sure you know what to report.
- IRS interest rates...
Dec 2, 2022
In this episode:
- The tax-gap is on the rise. Here what the IRS says is the cause and how they intend to correct course.
- 1099 deadline is on January 31, 2023.
- 1099-Ks: There are new filing requirements for 3rd party payment businesses such as Venmo and Paypal.
- Estate and Gift Tax Exclusions will be more in 2023.
We...
Nov 18, 2022
In this episode:
- The many benefits of having an HSA (Health Savings Account).
- Equipment purchased prior to year end must be placed in service prior to January 1, 2023 to be a tax benefit.
- The IRS still has a substantial backlog. If you haven't filed yet, you should do so immediately to avoid filing a...
Nov 4, 2022
In this episode:
- Tax Planning tips for the end of 2022.
- Charitable giving for tax savings.
- Opportunities to offset tax on stock gains.
- Inflationary increases for retirement plans have been released.
We also hear the story of Nathan Mueller, who after a year of temptation, succumbed to the draw of stealing from...