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Accounting and Accountability

Apr 21, 2023

In this episode:

  • The IRS has released a 150-page blueprint for the $80B of approved spending.
  • Last call for any 2019 returns with refunds to be filed.  They must be filed by 7/17.
  • Form 944 may be being eliminated for business filers. 

We also speak with Ritchie Thurman, President of Arbor Care Plant & Turf. ...

Feb 24, 2023

In this episode we discuss:

Many tax credits and deductions are slated to end in the next few years without legislative changes. 

New rules allow for tax credits for additional types of electronic vehicles (EVs).

The IRS has declared the 2022 tax stimulus payments as non-taxable. 

Three tax-prep companies have been...

Dec 16, 2022

In this episode:  

  • We review itemization rules and strategies for 2022 returns. 
  • Tax season will end on April 18, 2023, but don't leave your preparer in a bind by waiting until the last minute.
  • Certain digital currency and digital asset transactions are taxable.  Make sure you know what to report.
  • IRS interest rates...

Oct 21, 2022

In this episode we discuss:

  • Electronic vehicle credit qualifications have been further defined with remarkable limitations.
  • There are new proposed regulations for inherited IRA payouts.
  • IRS scams and aggressive attempts surrounding COVID relief funds are on the rise.
  • The latest information has been released on the...

Oct 7, 2022

In this episode we discuss:

  • The IRS is offering a Form 1023-EZ for nonprofits to apply for nonprofit status.
  • Payroll Protection Program funds that were received because of fraud may be taxed as taxable income.
  • New per diem rates have been defined for 2023.
  • Many taxpayers are still waiting for COVID relief funds...