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Accounting and Accountability

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 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...


Jan 1, 2022

In this episode:

  • The increase in mileage rates for 2022.
  • The Premium Tax Credit repayment has been extended.
  • The Build Back Better Bill will not be passed by year-end.  Look for a revised version in 2022.
  • Before you donate, check online for an organization’s tax-exempt status, even if it’s one you’ve donated to...


Nov 19, 2021

In this episode:

  • Tax planning tips:
    • Accelerating itemized deductions 
    • Tips for taxpayers over 72 years old
    • Gifting stocks to charitable organizations
  • Importance of Estimated Taxes and understanding Safe Harbor
  • Update on the tax implications in the Infrastructure Bill
  • Cryptocurrency rules for taxation

We also have...


Aug 13, 2021

In this episode:

If you filed for the Employee Retention Credit this is a MUST LISTEN episode.  The IRS has just announced additional guidance for this credit that may impact business that have already filed.

We also discuss the raising of the Delaware Minimum Wage.

Our story:

Dana Wein Reis goes down in flames and then...