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Accounting and Accountability

Jul 28, 2023

In this episode:

  • Inherited IRAs - Different rules on distribution requirements.
  • New IRS targets for LLCs and LLPs. 
  • Mortgage interest limitations on personal residence and secondary homes.
  • New IRS scam arriving in the mail. 
  • IRS says they will no longer be conducting surprise on-site visits. 

We are also joined in the...

Nov 4, 2022

In this episode: 

  • Tax Planning tips for the end of 2022.
    • Charitable giving for tax savings.
    • Opportunities to offset tax on stock gains.
  • Inflationary increases for retirement plans have been released. 

We also hear the story of Nathan Mueller, who after a year of temptation, succumbed to the draw of stealing from...

Episode 50: ERTC program estimates $2 trillion in fraud

Sep 23, 2022

In this episode we discuss:

The Secure Act 2.0, which includes the EARN Act, is currently in Congress.  Listen in to hear how it may impact you and your business if passed.

October 17, 2022 is the deadline for filing your personal and calendar-year C-Corp returns.

Authorities estimate the ERTC program has resulted in...

Sep 9, 2022

In this episode we discuss: 

  • Forgiven student loans are not taxable on a federal level, but your state/locality may be different.
  • The IRS has announced that they will give relief for the failure to file penalty for 2019 and 2020 returns.
  • The IRS is enhancing focus on compliance for Subchapter – S...

Aug 26, 2022

In this episode we discuss: 

  • The Inflation Reduction Act has passed.
    • There are energy improvement credits available.
    • The electric vehicle credit has been revamped.
  • The IRS has been given additional funding for improved customer service and agents.
  • There are small business startup funds available for...