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Accounting and Accountability

Jul 15, 2022

In this episode: 

  • The IRS will start using voicebots for incoming calls regarding collections with plans to expand its usage. 
  • New Overtime Rules will potentially be released this fall.
  • If cryptocurrency is being used it triggers a taxable event.  The IRS is cracking down on these transactions.
  • We review new policy proposals from the Biden Administration. 
  • Now is the time to organize your tax records and QuickBook files.  Your CPA will be able to help you with tax planning.  There's not much that can be done to reduce tax liability in February-April. 

We also hear the story of James Duncan and his partner Hendrix Montecastro who convinced investors to invest in their real estate investment Ponzi scheme, leaving many of them in extreme debt and worse.