Preview Mode Links will not work in preview mode

Accounting and Accountability

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  • The IRS paper filing system is significantly outdated and has a 22% error rate from human en try error and dramatically adds to...


May 6, 2022

In this episode:

  • The current IRS backlog times.
  • How long should you hold onto your tax documents.
  • The importance of paying estimated taxes.
  • Good bookkeeping practices.

 

Our guest is Jess Moyer, of The Icehouse Wellness and Community Center, who discussed being an author, juggling home and work, how she knew it was...


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...


Apr 8, 2022

In this episode:

  • Secure Act 2.0 has been passed by the House and is now on to the Senate.  Look for updates on Required Minimum Distribution, Charitable Giving, Employer Benefit Plans, lowering the Excise Tax and more.
  • There are issues with some taxpayers being required to give back refunded amounts due to the Premium...


Mar 25, 2022

In this episode:

  • States with budget surpluses are trying to decide what to do with extra funds resulting from Federal COVID relief.
  • MD will suspend gas tax for the next 30 days to help with rising gas April 18th is Federal Income Tax Day!  prices.
  • April 18th is Federal Income Tax Day!  Please remember an extension...