This TaxSnax Episode features Steven G. Siegel, J.D., LL.M.
Explore the intriguing world of tax advice in this final of TaxSnax! Our seasoned tax advisor shares stories of clients' creative attempts to navigate the rules. Learn why staying within the lines is crucial and how being aggressive within legal boundaries is the key. Discover the consequences for those who push too far and why our expert emphasizes the importance of clients heeding sound advice. Whether you're a tax professional or a client, this episode offers valuable insights. Sleep better at night by understanding the delicate balance between pushing boundaries and staying on the right side of the rules. Plus, get tips on finding the best tax practitioner for your needs – someone who provides comfort and responsiveness. Tune in for a dose of tax wisdom!
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This TaxSnax Episode features Robert “Bob” W. Jamison, CPA, Ph.D.
We're gettin' the truth about taxes with Bob Jamison (S Corporation extraordinaire) in this TaxSnax episode! Discover why the narrative on rich people not paying taxes is often misunderstood. Bob sets the record straight on the misconceptions surrounding tax avoidance schemes and unravels the complexities of church taxation. Plus, find out why Fido won't qualify as your tax-deductible dependent!
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This TaxSnax Episode features Lily Tran, EA, CTC, CEO of TaxUsign.
Get ready for a spine-tingling tax tale in this episode of TaxSnax! Ghostbust the myth of starting an LLC for a tax-free utopia and unearth the spectral secrets to choosing between hiring an employee or a contractor for your business. Catch a ghostly glimpse into the New Money Summit this December, where Lily Tran and the co-authors of Tax MythBusters: Don’t Fall Prey to the Tax Misconceptions will join forces for their TaxBusters! séance (or for professional purposes, let's call it their TaxBusters! panel). Take a seat at the spectral panel to bust those social media tax phantoms.
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This TaxSnax Episode features Sabrina P. Cook, CPA, Owner of Sabrina P. Cook CPA PLLC.
Ready to separate fact from fiction? This episode is all about digging up some of the wildest tax rumors circulating on the internet. First up, we’re tackling the headline-grabbing story of the 87,000 new IRS agents. No, they’re not an army of armed auditors! We'll dive into the real reasons behind this expansion and why the idea of them all packing heat is nothing but a blank in the barrel. Then, brace yourself – a viral tweet claiming burying a loved one in the backyard means no more property taxes (does that include my hamster from 3rd grade?). Spoiler alert: it's not that simple (or legal). Tune in for a reality check on these and more sensational tax tales that have taken the internet by storm.
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This TaxSnax Episode features Ashley Francis, CPA, Founder of Francis Group, PLLC.
Wave goodbye to the illusion of magical trusts on TikTok! We joined Ashley Francis, CPA in Seattle, WA. In this episode, Ashley tackles the trending "TikTok Trusts" phenomenon head-on, debunking the myth of a 'magic trust' that can solve all your tax troubles. We’re discussing those viral videos to show you what’s fact and what’s fantasy. Ideal for the TikTok aficionado who also values real-world financial wisdom. Is there this magical way out of paying income tax? Join us as we begin the journey to the find this "IRS Secret Menu" to bring you the truth behind the trend. No wands, no wizards, just straight-up, practical financial advice!
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This TaxSnax Episode features Orumé Hays CPA, CGMA, MST, Founder of Hays CPA. Here’s the tea on the ERC (Employee Retention Credit). Some of y'all are treating it like it's your latest Tinder match—swiping right without reading the fine print! Orumé Hays, CPA, CGMA, MST, our fabulous tax expert, is here to call out the blunders and throw some serious shade on last-minute ERC usage. Tune in before the IRS swipes left on you. Let’s all keep it 100% compliant! Check out the New Money Summit!
This TaxSnax Episode features Brian Streig CPA, LLP Tax Director of Calhoun, Thomson + Matza. When the moon is full and the fiscal year draws to a close, dark tax secrets begin to stir. Join us, if you dare, as we uncover eerie new tax implications that lurk in the shadows for business owners. Navigate these haunted tax trails with guidance from our expert, lest you find your finances ensnared by ghostly missteps!
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This TaxSnax Episode features Lorilyn Wilson, CPA, Creator of MadWoman Media, Owner of Lake Oswego Tax, and TikTok's @thenotspicyaccountant. We’re getting spicy with “The Not So Spicy Accountant” of TikTok and Instagram! Step into a world where finance meets spice as we delve into the mystifying secrets of tax write-offs with our expert, Lorilyn Wilson. From the allure of those "unique" home studios to glimmering adornments and tantalizing trinkets of today's hottest professions, Lorilyn unwraps the spicy side of deductions. Lean in, dance around some unexpected topics, and get ready for an exciting episode that sizzles with intrigue and tax wisdom!
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This TaxSnax Episode features Logan Graf, CPA. We're diving into the world of deductions and debunking the myths that might have you thinking you can write off anything, including that new pool for 'health' reasons. Spoiler alert: Deductions aren't that one-size-fits-all scarf you thought they were! Logan Graf, CPA, tax expert and content creator extraordinaire, is here to spill the tea on the misinformation circulating on social media. Find out why you can't just claim a personal deduction for business purposes and learn how to navigate the complex world of tax deductions. So, grab your popcorn, kick back, and get ready to unpack the mystery of money write-offs.
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This TaxSnax Episode features Josh Youngblood, EA, EA, CTRS, NTPI. Y’all ready for this?! They say that everything's bigger in Texas, but today we're saying that everything's bigger in taxes as we welcome our first Texas expert. Here we go again, debunking the most tempting LLC write-off myths. Think you can slide that mortgage and those groceries past Uncle Sam? Think again! Get the real deal on legit deductions and save yourself from costly missteps. Don’t bite off more than you can chew; let us (mostly Josh) help you! Check out the New Money Summit!
This TaxSnax Episode features Nicole Davis, CPA, MBA. If you raised your hand (*cough* Enya's sister) because you believed putting money in a trust can save you from paying taxes, this is the podcast episode for you. Are you tired of the misinformation buffet that social media serves up about trusts? Well, grab your favorite snack and join us for a bite-sized exploration into the world of trusts and taxes!
In this episode, our tax expert Nicole Davis will serve you some savory truths as we break down the myth that trusts are the ultimate tax-free treat. Spoiler alert: There's no magic sauce to dodge those tax obligations!
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This TaxSnax Episode features entrepreneur and founder of Voxie, Bogdan Constantine. Join us as we dissect one of the most tempting marketing schemes ever pitched: “Achieve instant success with zero effort!” We’ll debunk the myths surrounding this tantalizing promise, exposing the smoke and mirrors of MLM. Explore how automated marketing can genuinely elevate your strategies without false promises. Feet up, headphones on, and let’s learn how to navigate marketing with a discerning eye.
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This TaxSnax Episode features Alicyn McLeod, CPA, CFP & Cecily VM Welch, CPA, PFS, CFP®. In for a penny, in for a pound,” – us when we thought we should form an S Corp to write off literally anything. Joke was on us! Ever think you’re just a scarf away from a tax break? Think again! We’ll unpack the mystery of money write-offs and spill the tea on why an S Corp might not be every entrepreneur’s BFF. Spoiler alert: It’s not one size fits all, peeps! So, pop your popcorn, and let’s get fiscal! Tune in and learn why your roommate, Paul, was probably wrong about writing off that new whip because you “do business now.” (And how it may only save you $.30.) Check out the New Money Summit!
We've all heard it: "Not everything you read on the internet is true." You'd think it would be common sense; however, with social media running a wild, it can't be said enough.
That's why we're bringing you TaxSnax, a podcast for everyone. Let our grade-A, certified tax and business experts expose the true and false information behind those tax "hacks" you've heard across the Web. We want to share information to keep the IRS from knocking on your door, with timely, accurate and helpful advice and suggestions in small snack sized bites.
Bon Appétit!
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In the third episode of this limited series, hosts Larry Pon and Denise Appleby dive into changes to the statute of limitations on penalties for excess Roth contributions. They also discuss SECURE 2.0’s provisions for penalty-free distributions for domestic abuse victims, which go into effect in 2024. This limited series is part of a Self-Study Video Course available from Western CPE that can be purchased for CPE credit. Visit https://wcpe.co/episode/326050 to get started.
In the second episode of this limited series, hosts Larry Pon and Denise Appleby discuss some of SECURE 2.0’s changes to how Roth IRAs work, including increasing the minimum distribution age, reducing RMD penalties, and tweaks to matching and nonelective contributions for employers. This limited series is part of a Self-Study Video Course available from Western CPE that can be purchased for CPE credit. Visit https://wcpe.co/episode/326050 to get started.
In the first episode of this limited series, veteran financial experts Denise Appleby and Larry Pon discuss the background of the SECURE 2.0 Act of 2022, from its legislative beginnings to its place in the larger legal context of the Consolidated Appropriations Act of 2023. They also dig into distributions from 529 Qualified Tuition Accounts to Roth IRAs. This limited series is part of a Self-Study Video Course available from Western CPE that can be purchased for CPE credit. Visit https://wcpe.co/episode/326050 to get started.
The SECURE 2.0 Act of 2022 features 92 new provisions intended to better prepare Americans for retirement and increase incentives for businesses. Industry veterans Denise Appleby and Larry Pon discuss some of the law's highlights, including info on distributions from 529 Qualified Tuition Accounts, numerous changes to distribution factors for Roth IRAs, and more. This episode contains the full roundtable conversation, which is broken into smaller segments in parts 1-3. This limited series is part of a Self-Study Video Course available from Western CPE that can be purchased for CPE credit. Visit https://wcpe.co/episode/326050 to get started.
In Rev. Proc. 2022-19, the IRS details six areas in which it will no longer issue Private Letter Rulings to taxpayers seeking relief from an inadvertent termination of their S election. Tony and Damien run through each of these areas and discuss why this is critical information for anyone who deals with S corporations. This case study is part of a Self-Study Video Course available from Western CPE that can be purchased for CPE credit. Visit https://wcpe.co/podcast to get started.
In IRS Chief Counsel Memo 202204007, the IRS concluded that an online marketplace similar to AirBNB or Zillow that used its website to connect renters with tenants engaged in "brokerage service" for the purposes of Section 1202. That meant they were disqualified for the gain exclusion as Qualified Small Business Stock. What does this mean for other businesses, especially ones that act as intermediaries between third party businesses and their customers? This case study is part of a Self-Study Video Course available from Western CPE that can be purchased for CPE credit. Visit https://wcpe.co/podcast to get started.