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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...


Jun 3, 2022

In this episode: 

  • Lifetime in gift tax exemptions are $12,060,000 for 2022, due to be reduced to $5M after 2025.
  • The IRS will increase interest rates at the end of Quarter 3 this year.
  • Form 1023-EZ returns are being abused and overused for nonprofit organizations.  Lawmakers are discussing rescinding.
  • The proceeds from...


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  • The IRS paper filing system is significantly outdated and has a 22% error rate from human en try error and dramatically adds to...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