May 2, 2025
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Discussion on the so-called "IRS exodus" and its actual impact on audits, including the shift in enforcement strategy.
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Cautionary advice about taking overly aggressive tax positions due to perceived reduced IRS oversight.
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Importance of avoiding audit risks, especially when dealing with inexperienced agents.
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IRA rollover rules, including 60-day limits, trustee-to-trustee transfers, and one-rollover-per-year restrictions.
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Upcoming crypto reporting changes, including Form 1099-DA, and the taxability of crypto sales and payments.
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A look at proposed legislation to ease tax burdens on remote/mobile workers who cross state lines.
- Do you have questions? Send them to our hosts, with the subject line Accounting and Accountability, at dmc@fawcasson.com
We're also joined by Steve and Garnet Dennis, the President and Vice-President of Schlosser & Associates Mechanical Contractors
Steve and Garnet talk about the 71-year strong business and what it takes to succeed, including:
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How the company has transitioned across three generations of family leadership.
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Expansion from plumbing and heating into full-service offerings including concrete, structural steel, carpentry, and renovations.
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A candid look at the challenges of adopting new technology in a legacy business.
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How their company culture emphasizes customer service, apprenticeship programs, and long-term employee retention.
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Efforts to promote skilled trades as a viable, debt-free career path for young people.
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The “Schlosser Way” – an internal culture and rewards program focused on customer care.
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Honest reflections on the importance of growing sustainably and prioritizing integrity over hard-selling.
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Their strategy for succession planning and setting up the third generation for success.