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Accounting and Accountability

Episode 95: What does the overruling of the Chevron Doctrine mean for tax regulations?

Jul 12, 2024

In this episode:

The Supreme Court has overruled the Chevron Doctrine.  What does it mean for tax regulations?

The IRS has 2 years to file a suit against taxpayers if they are sent an incorrect payment.

A deep dive into first-time abatement.

Regulations surrounding the rules of the Research and Development Credit get...

Jun 17, 2024

In this episode:

  • President Biden’s proposed income tax increases.
  • The benefits of contributions to Health Savings Accounts (HSAs)
  • GoFundMe donations to individuals not classified as a 501c3 organization are not deductible.
  • Some shocking stats from the IRS.
  • The State of Delaware is still sending out erroneous tax...

May 31, 2024

In this episode:

  • The importance of choosing the correct entity type when forming your business.
  • How to properly document the business use of a vehicle.
  • Retirement plans for your business.
  • Best practices for income shifting.

We also hear from Donny Legans, co-owner of Rail Haus in Downtown Dover, DE.  Donny owns this...

Dec 29, 2023

In this episode:

  • An overview of what the government may have on the horizon for 2024 for the Research and Development Credit, Bonus Depreciation, and interest deductions.
  • The IRS continues to fight false Employee Retention Tax Credit claims.
  • An explanation of Section 1202 of the Tax Code.
  • A look into tax credits for...

Nov 17, 2023

In this episode: 

  • Electronic vehicle rebates versus tax credits.
  • There is an increase on retirement plan contributions for 2024.
  • Most donated inventory may not be deducible as a charitable contribution.
  • It's time for tax planning strategies!
  • Delaware Family Medical Leave Act is ramping up.  Listen in for details.