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Accounting and Accountability

Nov 2, 2024

In this episode:

  • Tax Cuts and Jobs Act expires after 2025.
  • New inflation adjusted numbers reported.
  • Section 179 update.
  • Gift limit is $19,000 for 2025.
  • IRS begins enforcement of gambling earnings reported on Form W2G.
  • Limitations and income tax issues when working overseas.

Tabitha Myers of Tabitha Myers Nutrition...



Oct 5, 2024

We review some of the new tax proposals from each Presidential candidate.

The IRS has announced the new per diem rates which may be utilized starting October 1, 2024 or businesses may wait until January, 1, 2025.

Letters denying eligibility for the ERTC have been sent out to those who applied for, but didn’t qualify.


Sep 20, 2024

In this episode:

  • Potential changes are on the horizon for Federal Lifetime Gift Tax Exemptions.
  • The October 15th deadline for filing tax returns on extension is quickly approaching.
  • The IRS has stated that they are expanding high-income audits.

 

Tammy and Brian review Faw Casson’s history as we celebrate our 100th...


Sep 9, 2024

In this episode:

  • Harris tax proposals.
  • Cancelled debt may need to be reported as income.
  • An overview of the dependent tax credit and the proposed changes.

We also have Jayme Hayes, President & Chief Experiential Officer of Junior Achievement of the Eastern Shore.  She talks to us about the amazing things this...