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Accounting and Accountability

Jun 17, 2022

In this episode:

  • The mileagereimburesement rate is set to rise to 62.5 cents per mile on July 1 – a 4 cent per mile increase.
  • We discuss the rules for an inherited IRA 10-year payout.
  • Non-cash donations valued at $250 or higher follow special rules for tax returns.
  • The Social Security Wage Gap.


Our guest is Jess...

May 20, 2022

In this episode we discussed:

  • Secure Act 2.0 has been passed by the House and will go to the Senate later this year.
  • The IRS is taking a much closer look at real estate loss deductions.
  • The IRS paper filing system is significantly outdated and has a 22% error rate from human en try error and dramatically adds to...

Apr 22, 2022

In this episode:*

The IRS is hiring more agents and taking a closer look at Partnership returns.

There are situations that allow you to prorate the gains on the sale of your home.

President Biden is pushing for higher taxes for high-net-worth individuals.

Each Delawarean resident will receive $300 to help with the...

Mar 11, 2022

In this episode:

  • Gas taxes may be suspended (probably at the state level) to mitigate the cost of rising gas.
  • Bi-Partisan support exists to delay the narrowing of the Research and Development Credit.
  • We offer some important tips for retirees.
  • There are many legitimate ways to use 529 plan withdraws.
  • The costs of...

Jan 14, 2022

In this episode:

  • The Build Back Better Bill has yet to be finalized. 
  • The Child Tax Credit will revert to pre-2021 rules.
  • Many tax incentives were set to expire at the end of 2021.
  • The Social Security wage base has increased.
  • 401K contribution limits will increase.
  • The allowable limits for Gift Tax amounts will...