Podcasts about ertc

IRS releases memorandum on when a theft deduction is available for a scam victim, ERTC suits filed asking for a refund, and more.

https://vimeo.com/1054799615?share=copy#t=0 https://www.currentfederaltaxdevelopments.com/podcasts/2025/2/8/2025-02-10-new-administration-pushes-foward-with-the-cta This week we look at: IRS issues letter ruling on IRA left to trust A taxpayer mistakenly believes the IRS had conceded that his income was not subject to self-employment tax, but it hadn't The Tax Court denies a taxpayer's deductions and claimed partnership losses due to incredibly disorganized and inadequate records Taxpayer runs afoul of the “pay first, litigate later” rule when attempting to sue the IRS for a refund in US District Court in response to an assessment A taxpayer's unprocessed claim for an ERTC refund doesn't justify CDP relief The BOI - new Administration continues litigation and proposes a new due date, potential filing relief

This week we look at: IRS issues letter ruling on IRA left to trust A taxpayer mistakenly believes the IRS had conceded that his income was not subject to self-employment tax, but it hadn't The Tax Court denies a taxpayer's deductions and claimed partnership losses due to incredibly disorganized and inadequate records Taxpayer runs afoul of the “pay first, litigate later” rule when attempting to sue the IRS for a refund in US District Court in response to an assessment A taxpayer's unprocessed claim for an ERTC refund doesn't justify CDP relief The BOI - new Administration continues litigation and proposes a new due date, potential filing relief

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Blake and David take a look at several significant developments in the accounting world, including Trump's controversial IRS Commissioner nomination of former Congressman Billy Long. They also dig into updates on the Macy's accounting scandal and explore Square's potential move into accounting software with their new head of Product Accounting Solutions hire. They also share insights from the AICPA's 2024 CAS benchmark survey showing significant growth in client accounting services practices and much more!SponsorsRoboDebit - http://accountingpodcast.promo/robodebitRelay - http://accountingpodcast.promo/relayCloud Accountant Staffing - http://accountingpodcast.promo/casTaxBandits - http://accountingpodcast.promo/taxbanditsChapters(00:28) - Welcome to The Accounting Podcast (00:40) - Digital CPA Conference Highlights (01:17) - CAS Practices on the Rise (02:22) - IRS Commissioner Nominee: Billy Long (03:42) - Employee Retention Tax Credit Controversy (14:45) - Macy's Financial Misstatements (28:30) - Intuit Assist: A Closer Look (29:48) - The Evolution of Bill Scanning with AI (31:25) - AI's Impact on Accounting Tools (33:06) - AI and Tax Returns: The Future of Automation (34:54) - Relay: The Ultimate Small Business Bank (36:19) - Supermicro's Accounting Scandal (40:48) - Square's Move into Accounting Solutions (57:21) - The Rise of Client Advisory Services (01:00:55) - Closing Remarks and Future Insights  Show NotesHe Promised Huge Tax Refunds. Now Trump Wants Him to Lead the I.R.S.https://www.nytimes.com/2024/12/06/us/politics/billy-long-trump-irs-tax-credit.html Brainsky Unleashed (Instagram) – Billy Long – December 6, 2024https://www.instagram.com/brainskyunleashed/reel/DDQS_GjRn4P/ Macy's employee who hid $151 million in delivery expenses was trying to mask initial mistake, sources sayhttps://www.cnbc.com/2024/12/11/macys-m-earnings-q3-2024.html Macy's Probe Found Employee Acted Alone in $151 Million Accounting Scandalhttps://www.wsj.com/business/retail/macys-m-q3-earnings-report-2024-c7363662 LinkedIn – Andy Schwartz – Profit Labs Update – December 6, 2024https://www.linkedin.com/posts/andy-schwartz-233b359_profit-labs-update-i-am-excited-to-share-activity-7269157016051298305-rYAW/ Amazon integrates QuickBooks for sellershttps://www.accountingtoday.com/news/amazon-integrates-intuit-quickbooks AICPA and CPA.com Benchmark Survey: CAS Practices Report 17% Growthhttps://insidepublicaccounting.com/2024/12/09/aicpa-and-cpa-com-benchmark-survey-cas-practices-report-17-growth/Need CPE?Get CPE for listening to podcasts with Earmark: https://earmarkcpe.comSubscribe to the Earmark Podcast: https://podcast.earmarkcpe.comGet in TouchThanks for listening and the great reviews! We appreciate you! Follow and tweet @BlakeTOliver and @DavidLeary. Find us on Facebook and Instagram. If you like what you hear, please do us a favor and write a review on Apple Podcasts or Podchaser. Call us and leave a voicemail; maybe we'll play it on the show. DIAL (202) 695-1040.SponsorshipsAre you interested in sponsoring the Cloud Accounting Podcast? For details, read the prospectus.Need Accounting Conference Info? Check out our new website - accountingconferences.comLimited edition shirts, stickers, and other necessitiesTeePublic Store: http://cloudacctpod.link/merchSubscribeApple Podcasts: http://cloudacctpod.link/ApplePodcastsYouTube: https://www.youtube.com/@TheAccountingPodcastSpotify: http://cloudacctpod.link/SpotifyPodchaser: http://cloudacctpod.link/podchaserStitcher: http://cloudacctpod.link/StitcherOvercast: http://cloudacctpod.link/OvercastClassifiedsForwardly - https://www.forwardly.com/Client Hub - https://clienthub.app/Want to get the word out about your newsletter, webinar, party, Facebook group, podcast, e-book, job posting, or that fancy Excel macro you just created? Let the listeners of The Accounting Podcast know by running a classified ad. Go here to create your classified ad: https://cloudacctpod.link/RunClassifiedAdTranscriptsThe full transcript for this episode is available by clicking on the Transcript tab at the top of this page

Thanks to our partners, NAPA TRACS and PromotiveEnd-of-year chaos is here, and Hunt's been busy diving into webinars, questions, and updates on some big topics like the BOI report, interest rates, and the infamous Employee Retention Tax Credit (ERTC). In this episode, Hunt breaks down what's happening, what you need to know, and what you should (or shouldn't) do before heading into 2024.Here's What You'll Learn in This Episode:BOI Report (Beneficial Ownership Information): This rule was meant to track down shady business practices, but now it's tangled in legal challenges and paused—for now. Already filed? You're good. Haven't filed? You've got choices. Hunt explains the pros and cons of sitting tight or filing now.Interest Rates and the Economy: Rates are dropping, but what does that actually mean? Hunt explains why “good news is bad news” for the economy and what's expected for borrowing costs, CDs, and savings rates in 2024. Key dates to watch for financial reports that could shake things up (spoiler alert: December 11th and 12th are big ones).ERTC: Still Alive, but Barely: The IRS is drowning in a mountain of unprocessed claims—think years of delays.What to do if you're still waiting on your ERTC money and why you shouldn't count your chickens (or your tax credit) just yet.Learn more about how to fill out the BOI Report here: https://youtu.be/5pP1b_IzbSYThanks to our partners, NAPA TRACS and PromotiveDid you know that NAPA TRACS has onsite training plus six days a week support?It all starts when a local representative meets with you to learn about your business and how you run it. After all, it's your shop, so it's your choice.Let us prove to you that Tracs is the single best shop management system in the business. Find NAPA TRACS on the Web at NAPATRACS.comThanks to our partner, PromotiveIt's time to hire a superstar for your business; what a grind you have in front of you. Introducing Promotive, a full-service staffing solution for your shop. Promotive has over 40 years of recruiting and automotive experience. If you need qualified technicians and service advisors and want to offload the heavy lifting, visit www.gopromotive.com.Paar Melis and Associates – Accountants Specializing in Automotive RepairVisit us Online: www.paarmelis.comEmail Hunt: podcast@paarmelis.comDownload a Copy of My Books Here:Wrenches to Write-OffsYour Perfect Shop The Aftermarket Radio Network: https://aftermarketradionetwork.com/Remarkable Results Radio Podcast with Carm Capriotto: Advancing the Aftermarket by Facilitating Wisdom Through Story Telling and Open Discussion.

Thanks to our partners, NAPA TRACS and PromotiveEnd-of-year chaos is here, and Hunt's been busy diving into webinars, questions, and updates on some big topics like the BOI report, interest rates, and the infamous Employee Retention Tax Credit (ERTC). In this episode, Hunt breaks down what's happening, what you need to know, and what you should (or shouldn't) do before heading into 2024.Here's What You'll Learn in This Episode:BOI Report (Beneficial Ownership Information): This rule was meant to track down shady business practices, but now it's tangled in legal challenges and paused—for now. Already filed? You're good. Haven't filed? You've got choices. Hunt explains the pros and cons of sitting tight or filing now.Interest Rates and the Economy: Rates are dropping, but what does that actually mean? Hunt explains why “good news is bad news” for the economy and what's expected for borrowing costs, CDs, and savings rates in 2024. Key dates to watch for financial reports that could shake things up (spoiler alert: December 11th and 12th are big ones).ERTC: Still Alive, but Barely: The IRS is drowning in a mountain of unprocessed claims—think years of delays.What to do if you're still waiting on your ERTC money and why you shouldn't count your chickens (or your tax credit) just yet.Learn more about how to fill out the BOI Report here: https://youtu.be/5pP1b_IzbSYThanks to our partners, NAPA TRACS and PromotiveDid you know that NAPA TRACS has onsite training plus six days a week support?It all starts when a local representative meets with you to learn about your business and how you run it. After all, it's your shop, so it's your choice.Let us prove to you that Tracs is the single best shop management system in the business. Find NAPA TRACS on the Web at NAPATRACS.comThanks to our partner, PromotiveIt's time to hire a superstar for your business; what a grind you have in front of you. Introducing Promotive, a full-service staffing solution for your shop. Promotive has over 40 years of recruiting and automotive experience. If you need qualified technicians and service advisors and want to offload the heavy lifting, visit www.gopromotive.com.Paar Melis and Associates – Accountants Specializing in Automotive RepairVisit us Online: www.paarmelis.comEmail Hunt: podcast@paarmelis.comDownload a Copy of My Books Here:Wrenches to Write-OffsYour Perfect Shop The Aftermarket Radio Network: https://aftermarketradionetwork.com/Remarkable Results Radio Podcast with Carm Capriotto: Advancing the Aftermarket by Facilitating Wisdom Through Story Telling and Open Discussion.

Host Dr. Davide Soldato and guests Dr. Suzanne George and Liz Salmi discuss their JCO article "Overcoming Systemic Barriers to Make Patient-Partnered Research a Reality" TRANSCRIPT TO COME Dr. Davide Soldato: Hello and welcome to JCO's After Hours, the podcast where we sit down with authors from some of the latest articles published in the Journal of Clinical Oncology. I am your host, Dr. Davide Soldato, Medical Oncologist at Ospedale San Martino in Genoa, Italy. Today, we are joined by JCO authors Liz Salmi, Researcher and Patient Advocate, and by Dr. Suzanne George, who works as a Medical Oncologist at the Dana-Farber Cancer Institute where she acts as the Chief of the Division of Sarcoma. She is also Associate Professor of Medicine at Harvard Medical School. Today, we are going to discuss with Suzanne and with Liz the article titled, “Overcoming Systemic Barriers to Make Patient-Partnered Research a Reality.” So thank you for speaking with us, Suzanne, Liz. Liz Salmi: Thanks for having us. Dr. Suzanne George: Yes, thanks. Dr. Davide Soldato: I just want to make a brief introduction because I think that the concept of patient partner research is very wide and I'm not sure that all of the readers of JCO really have a deep understanding because I imagine that there are a lot of ways we can involve patient and patient advocates in the research process. And so I was wondering if you could give us a little bit of an introduction about the concept. Dr. Suzanne George: Sure. I think the point that you raise is really important because there are many terms that are used, patient-partnered research, patient advocacy, but I don't think that there's a single definition as to what that actually means. In the context of our work, we've sort of summarized our experience through something called the PE-CGS or the Participant Engagement and Cancer Genome Sequencing network. And in that project, which is a Moonshot funded network, the intention is to have participants in research be true partners working with traditional academic research teams in order to develop networks specifically focused on cancer genomics. So what we've done, every center is a little bit different in the network, but we're really having research participants not just act, but really work on the research team from the beginning of the project inception all the way through the research project. Liz Salmi: What brings me to the PE-CGS network is my 17 years experience as a person living with a low grade glioma, brain tumor or brain cancer and involving patients in the co-design of research is super critical because patients bring unique lived experiences that can shape research questions, study designs and outcome measures in ways researchers might not anticipate. And we're finding this through our network. So through my work, including my patient experience and brain tumor focused study designs, I've seen firsthand that patient insights can drive more practical implementations that ultimately benefit both patients and the researchers. And so the particular project I work on in the network, we've got like five different arms and different groups of cancer types that are being represented, so I'm basically focusing on the OPTIMUM study around how brain tumor patients can help in this study design. So in this project I serve as not just a participant in the research, but also as a patient co-investigator. Dr. Davide Soldato: That is very interesting. And I think that we really captured the essence of patient-partnered research by having both of you here talking with us about the PE-CGS. And the second question that I wanted to ask is: I really think that the network focuses on something that is quite important right now and currently in medical oncology - so cancer genome sequencing, access to novel therapies - and I think that it's really challenging to imagine a way in which we can really get our patient and get patient advocates to help us designing new trials who are looking into this. And I just wanted to know, do you think that there is something that is particularly challenging when we are speaking specifically about cancer genomics and access to this type of drugs that are targeting specific molecular alteration? Because I think that in general it might be a little bit easier, maybe I'm biased on this, so you can also tell me if I'm wrong, but I think that it's a little bit easier when we are trying to design, for example, behavioral intervention or things that are more commonly found in oncology and a little bit more complicated when we are speaking about genomics. Dr. Suzanne George: So I think that's part of what this network is trying to address, which is really what are the barriers and the opportunities around cancer genomics from the patient perspective and how do we make sure that that perspective is included as we're thinking about study design and inclusion? As Liz mentioned, this network has five different networks within the network, five different centers, and each center is slightly different with the population that it engages with. And so there's diversity there in terms of reaching out to different patient communities and partner communities around potential barriers for genomics research. I think one of the things though that we're finding across the network is that people want to be part of this work. People that have a lived experience of cancer want to help move the field forward. And what we ended up writing about was some of the barriers that get in the way of that. It's awesome to have people like Liz that are like all in and then there's people who are on the other end of the spectrum that want to share their information to help move the field forward around genomics, but then there's all these barriers at the systems level that get in the way of that. So I think that that's one of the challenges we're trying to overcome and learn about across the network. Liz Salmi: Yeah, I think I bring this really interesting, I can't say I'm really interesting, but I think I bring this really niche perspective. Not only am I a person living with a brain tumor and I'm a co-investigator but also like a participant in this study. I also, in my day job, I'm an investigator as part of the director of communications and patient initiatives on the OpenNotes lab at Beth Israel Deaconess Medical Center. And our lab really focuses on how open, transparent communication between doctors and patients improves care. And that's been going on for longer than I've been around on our team. But what I bring to that lab is I focus on engaging both patients and clinicians in spreading the awareness about the power of how easy access and transparent communication, access to information across healthcare settings helps patients feel more involved and informed in their care.   And I work specifically, it's a really niche area. I work on projects that aim to expand access to notes and test results in diverse care settings, really helping tailoring initiatives so that various patient communities can understand how they can be involved in these types of research projects. Ultimately that's what brought me into this space. I might be one of the first generation of patients that actually starts helping co-design studies on things like this. And I think that across a lot of healthcare settings cancer is really what we're focused on. But patients are now increasingly being involved as research collaborators. And there's many different funding institutions such as the NCI but also PCORI they now mandate that funders reflect a shift towards more patient centered research frameworks. So it's like the PE-CGS network isn't the only group that's being funded to do research in this way. And I think other investigators, even outside of the cancer space, but specifically in cancer, need to learn how to do research in this way. Dr. Suzanne George: Yeah, I agree. And I think the other thing that we need to do is if people want to participate and that participation in many of these networks has to do with record sharing and data sharing, the system needs to accommodate that. If people want to share their information in order to allow research to be performed, then we need to make sure that that can happen, and that it's not that the institution systems don't connect with someone else's systems or that you to pay X, Y and Z dollars for the data to go A, B and C, or that some places are on this EHR and some places are on that EHR and so, sure, you can share it, but you have to go through all of these hurdles in order to make it happen. When a patient signs a consent form that says, “I want my data to be used,” we as an investigator community, we owe it to that patient to make sure that their information is being part of the data set that will be used for learnings. And that's part of what we wrote about, is the lots of behind the scenes things that just get in the way and that we need to work towards improving. Liz Salmi: Both Suzanne and I are really passionate about this stuff. And as a person living with a brain tumor for the last 17 years, I'm a chronic research participant. I always, always, am really curious. I'm like, “Yes, let me contribute my data. Whether that's electronic health record data or maybe I'm being interviewed about certain aspects of the cancer care experience.” And the one thing that bummed me out for like the first 10 years of being this chronic research participant is I would enroll in things, I'd be interviewed for things, I'd fill out these surveys and then I never heard anything about what happened with that information and that time I spent. And people would send me like a $10 gift card to Amazon, like, “Thanks for participating,” but really what I wanted to know is like, did you do anything with that? How did that inform things? So that really annoyed me to the point where I was like, I'm just going to be part of the research process and really figure out how we share that information back to everybody who had spent so much time. And so my participation in this space is like, “Let's change it. Let's give people information back.” And now I know it takes a really long time to have a finding that could be published somewhere that we then get it back. But closing the loop on the communications gap is something I'm really passionate about. Dr. Davide Soldato: Do you think that we are changing a little bit this perspective? I feel like we are getting a little bit better in creating patient communities of patients who are included in specific clinical trials. And then we do the effort of creating a community, of keeping people really involved with the research that they are participating in. I think that we are not quite there yet, but I think that we are making some kind of steps in that direction. For example, trying also to inform patients to participate in the study when the publication that is related to that specific study comes out. What is the benefit? What have we discovered? I think that we are not quite there yet. There is a lot of room for improvement, particularly in the way I think we communicate these to patients who participated in research. But I have the impression that we are making some steps forward. So I don't know. Do you share the same thoughts? Liz Salmi: So Dr. George talked about the PE-CGS network and then there's five different cancer types being studied. So the thing I can reflect on is what we've done in the, this is a really long acronym but, Optimizing Molecular Characterization of Low Grade Glioma. Say that 10 times fast. So our particular group is people who donate tissues about their brain tumors. We're really collecting data from people with multiple brain surgeries over time, which is really complicated and to make that process easier. And then once those tissue samples are stored somewhere, studying that information about what changes in the brain tumors over time and then also giving those results back to people so they can take that research level data and bring it back to their neuro oncology team and say, “Hey. Here's what I found out, “and having a conversation. So, this is a long multi touch point study and in order to do that, to even make that possible is the individual patients need to understand what's in it for them. They're donating precious tissue in order to make the research process work. And so in order to do that, it's not just the investigators saying, “Hey. Give us your brain tissue, peace out.” It is we have a whole research advisory council of people living with these particular tumor types who help us co-design how do we do that outreach, how do we explain why this is important, or how do we message the importance of this work so they understand,“Oh, this is what's in it for me and this is what's in it for other people like me.” And from there then with that process, which again I mentioned, all of these multi-step processes, once we're able to understand how patients want to hear that information, what's in it for them, then we bring it back to like those bench scientists, investigators going, “Okay. And here's how this workflow should work for the patients,” and design everything around the patient experience before we even care about what's happening from the scientist researcher perspective. Dr. Suzanne George: I agree. I think to your point, I think the fact that we're all here today talking about this is just like you said, is that we are making progress, right? Like we're even here having this conversation. Just like you said, I think there's opportunities to improve and further refine the communication and the involvement back in the patient community. When I think- if I put on my clinical investigator hat, I'm very involved in PE-CGS, but my primary research interest historically has been clinical trials and drug development. And I think that our approach in communicating results back has just not been consistent. But I do think that there's opportunities, just like you said, to provide summaries of information to loop back. I don't think that we've completely solved: What do we do? How do we provide information back to loved ones of patients that may no longer be alive that participated? How do we provide information to people who maybe we don't have their contact information? What if we lose track of them? How do we also make sure that we give people the choice to know? Do you want to know about this or would you rather just participate and then give space to that research? Because maybe that's how people's best for them. So I think that you're right, we're making progress, but I think that there's also a lot more that we can do. So I'm glad we're talking about it. Dr. Davide Soldato: How much do you think that directly involving patients in this process, like asking them directly and co-designing the trial from the very beginning and understanding the level of information? This might also be another question inside of the question. So first, how much co-designing this type of research helps, and then do we also need to further refine at that level of communication, different communication depending on the level of information that different people want to have? Because I think that that's another level of complexity that we need to work towards at a certain point. We need to work on that first level of giving back the information. But then I think that there is also the other point of providing the information and information that should also be probably adapted to the cultural belief of different patients, to the ethnicity or to whatever cultural background or social background or whatever they may place their most interest in. Dr. Suzanne George: So I think that you're 100% right on all of those points. I think those are all topics that need to be considered. We may be able to get to a certain degree of granularity around those communication points, but on the other hand, we also want to be able to communicate broadly and accessibly as possible. One of the interesting things about PE-CGS, as Liz was mentioning, is each of the five centers has a slightly different focus. For example, one of the centers is focused on American Indians and Tribal Nations, and the communication practices coming out of that center are really unique and really very special and something that's been really, I think for me, very fascinating to hear about. Because to your point, like, just the strategy and what's considered appropriate is just different. I think if we hope to build a research world where our research participants and research data come from a broad swath of the population that really represents the population, the only way that we're going to be able to do that is find ways that bring meaning across the population as well. And that may be different based on where people are coming from and where people are at in their own journeys and in their own lives. But it's on us to be open to that and like to hear that, so we can do the right thing. Dr. Davide Soldato: And I think that this is one of the objectives of the PE-CGS, really trying to bring this type of research participation to really diverse and underrepresented populations, not only in terms of cultural background, but I also think about different types of tumors. Like Liz was referring about brain cancer or low grade glioma, which is a very niche population. And I also think about sarcomas, for example, the degree of variability that we have in that specific type of disease is such that we really need to probably find different ways to communicate also inside of this diversity in terms of single patient and experiences, but also in terms of single diseases. You were speaking a little bit before about the fact that the manuscript is really on the barriers that we would need to identify and then to change to make this system a reality. We were talking a little bit about consenting information and consenting the sharing of information, and I think that you make a very interesting point about the consent process when we are designing research. Could you give a little bit of your impressions about giving informed consent? What we need to change, how can we improve? Dr. Suzanne George: The bottom line is the consent process needs to be simple, clear, and transparent. And sometimes I feel, because the traditional way that we've always gone about consent is frequently consent is as it should be in many ways. These consent forms are developed from a regulatory framework. What are we required to do to consent and how do we meet those requirements? Sometimes that becomes directly at odds with how do we do this simply, clearly and transparently? And I think as a research community, we have to be able to find a common ground there. That has to include regulatory requirements, that has to include IRBs. When we think about consents and work with our patient communities on this, everybody agrees the consents need to be more simple, except the IRB or maybe the IRB agrees, but it's this tension between how do we make it simple, clear and transparent and not get so bogged down in the regulatory that we lose that intent. Liz Salmi: It's complicated. As a person, I mentioned, I'm a chronic research participant living with a brain tumor for 17 years. I remember enrolling in studies and seeing things that are just so complicated. I'm like, “Well, I'm just going to sign off.” I imagine somewhere somebody who knew more than me said, “I should just fill out this thing.” And then as I switched to the research world, I spent more time digging into, “Wow, this is a really complicated consent,” versus, “This is a really streamlined consent and I love this.” And throughout my work with Dr. George and others on the PE-CGS network, an example of a good consent that's easy for people to understand is what the NIH All Of Us research project did, where they're trying to get a million people, more than that, signed up to be in this longitudinal study. And their consent is to go to their website and they have a whole bunch of short YouTube videos. There's a kind of like a quiz involved and they're animated, they have multiple languages involved. And I signed up for that study and I was like, “This is a beautiful consent.” And it's a very plain language. And more consents like that. If you're looking for a good example, go there. I have not been paid by them in any way. I'm a participant in their study. I'm not sure if you guys and your listeners are aware, but there was I think, October 19th of this year or 2024, there was a special communication published in JAMA on an update on the Helsinki Principles for Medical Research involving human participants. And what they're saying is an ethical update is patient engagement in research, which emphasizes the need for continuous, meaningful engagement with research participants and their communities throughout the research life cycle, before, during and after studies. And so this is what we're talking about here. And it's now been embedded in these updated principles. Dr. Suzanne George: That's really great and I agree with you. I think the All Of Us consent process is very accessible. It feels like you can understand it. But the other thing is that, again, I also am not directly involved with All Of Us, but the other thing about it is that they also have a high-touch way to consent where they have navigators and people that will go into communities in a very resource intensive way. So there's all different ways to go about it. We need to find a way that we can balance the complexity around regulatory and the simplicity and transparency that we need in cancer research. Dr. Davide Soldato: Do you think that in terms of patient engagement we are doing better in academic sponsored research compared to sponsored research? A little bit of a provocative question maybe. Dr. Suzanne George: I think that's a really interesting question. I think this idea of participant engagement and involvement is being infused across the research community. And in part, the FDA has prioritized it as well. I think the industry sees the FDA prioritizing this as well. And I think that there are many companies that are involving participant and advocacy communities in different ways in the study design, in the study process early on. So I think it's happening. Liz Salmi: I'll be spicy. I've been a participant, I've been an investigator, co-investigator on studies and I have been reached out to often by pharma of, “Hey Liz, brain tumor patient advocate, would you be kind of like the poster child of our study or be involved in that way?” And I personally want to have no work in that space. I have no interest. However, I am approached, and other people living with cancer have been approached, by industry about lending their likeness or being commercials. And I don't think there's enough education to patient advocates of what that necessarily means, pros and cons. But I also can't speak on behalf of all of the patient advocates who might want to see that's a way that they could lend their voice and advance research. I personally think that there needs to be more involvement from the academic side of creating spaces where patients can be involved in the co-design of research and they also get compensated for their time fairly at the same level or some version of it in a way so they don't just jump to the pharma side of things. But that's an opinion that I have. Opinions. Dr. Suzanne George: I think it's really interesting the point that you make about providing more awareness or information about what it even means to do these things from a patient side. I certainly don't know that side as well, but I do see, often, the term patient advocate used very frequently in many different contexts that mean many different things. And I think that there's an opportunity there for understanding more about what that really means and what it can mean. Liz Salmi: Yeah. We want to involve patients, we want to do patient engagement. The BMJ or the British Medical Journal, have this new policy in place for patients as reviewers of research. And what I find interesting with the BMJ is they also ask patients to declare their conflicts of interest. So this is kind of a new space. If you're involved in patient research or perhaps working with pharma, patients, if you're involved at that level, should also be declaring their conflicts of interest if they're getting paid by a pharma. Or do I have a conflict now that I'm doing this cool ASCO podcast? Maybe. But do we want to overburden patients with tracking all this information? So it's a new world. The more we have access to information, the more we share information, the more we can read studies and we co-design, there's a new space I think over the next 5 to 10 years where how do we define this in a transparent way. Dr. Suzanne George: Yeah, I think you're right. I know that we're getting long, but I just want to say one other thing about that, which is that you're right. If we're bringing patients in to be partners, then we have to treat each other that way. We have to acknowledge- I think this issue that you raise about compensation and about paying people for their time or acknowledging people for their time, I think that's really important and very under-discussed. Liz and I were at the annual meeting for the PE-CGS and someone was there giving a talk about- this was a guest speaker that was giving a talk about a very large high impact grant and that included a patient advocacy kind of module, let's say. And they put in a specific funding and budget for that component that included compensation for the people- from the people in the advocacy community that were spending their time. And the PI of this project, again, not to get into the details of it, but they were sharing that they got a fair bit of pushback on that. But the PI pushed back and said, “Listen, we're compensating other people for their time. These guys, we want them to be partners, we need to treat them as such.” And I think that also again, kind of we're in a new space, but if we're going to do it right, then we have to acknowledge that we're partners. Dr. Davide Soldato: But I think that maybe an experience like the PE-CGS probably can be also a network for expanding awareness for patient advocates and also for creating sort of a new culture about what does that mean and how can we also improve on that part. Because in the end, if we want to engage, we also need to provide patients with the instruments to engage in a way that we think it's both useful for them, that can make research better, but can also make them at the exact same level as everyone who is participating in that research, which I think it's the bottom line of all the concepts that we are discussing right now. Liz Salmi: Yep. Dr. Suzanne George: Yes, I agree. Dr. Davide Soldato: So I think we have covered a lot of things. Just wanted to make one last reference to a point that Suzanne mentioned earlier, which is the interoperability of systems. And I think that when we come to the cancer genome, that is very important, being able to share information, especially for those diverse and less common cancer types that we were discussing earlier. There is a lot of work in gaining all that information and we need to be able to gather all of that information in the same place to advance research. You were mentioning before that the process is actually very complicated and I was wondering if in the network you are already working on some potential ways to address this type of issue. Dr. Suzanne George: I think our first step is really just calling it out, acknowledging how hard this is and what the barriers are. Oftentimes I think in research, we don't talk enough about what our methodologic barriers are. We talk more about what our results are, but not like how hard it is. But like in our projects, the Count Me In project, my network that I'm involved with, we're doing rare tumors. We can only do the United States and Canada because of privacy issues. And we're doing a completely web based platform. So we have the technology. But the privacy laws are impeding our ability to involve other parts of the world. And even within the United States, it's not as easy as we would like to get records. For example, despite the fact that people are saying, “Yes, use my records.” But then it's like, “Okay. Well, that's not that easy. How are we going to get them?” We had to hire a third party vendor in order to get the records, in order to manage all the different consents and releases that were needed across all these different hospital systems. So I think the first question is just calling it out and then from there working together as a community to try to see what the solutions can be, because we need to come up with those solutions. Liz Salmi: Yeah, we're in the same camp as Dr. George and the fact that of the five partners, we're not associated with one particular institution. So we can reach out around the country and get access to those records. And we need them at multiple points in time, over time and it takes a lot of effort and work. And it's not like you could just, say, call hospital A and they have all the information. It's like all of the calls to all of the other sites. And it's not just from one surgery, it's from two or more surgeries. But also the way that people stay involved, and, by people, I mean patients and family members, there's this promise that at some point you're going to get some sort of information in response. Like, it's the “what's in it for me?” aspect of it. We do interviews with those who've been enrolled in the study, those who could be potential enrollees in the future because they've only had one surgery. And what we're learning overall is there's this altruistic nature that people have of- they want to participate in the research because they're like, “Here's my horrible cancer experience. I know other people are going to go through this as well.” There's this guiding light of “I want to do something, and I'm not going to be the person that creates the cure, discovers the genome or whatever for this particular cancer type. But my little bit of participation in this multiplied by 20, 30, 100, 1000 people, is what is going to lead us to the next phase in development and is going to move the needle for this particular tumor type or other cancer types.” And so what I think the impact in this space and participant engagement isn't just something we figure out, like a little research method and a little finding for one small tumor type, it's like the methods to do that is the big impact. The method around participant engagement can impact even beyond the cancer community. Dr. Davide Soldato: Yeah. As Suzanne was saying, we need to be in a system that really helps us and allows us to do that. So I think that you really have a lot of things to work on inside of the network. Dr. Suzanne George: I think one thing that I would say is I think that this issue of interoperability is acknowledged as a challenge. We refer to several different initiatives across the US where this is supposed to ideally change over time. I think people want it to change over time. I think investigators at the ERTC want it to change over time. I think different countries are working on this. And I think, again, the first step is getting us at the table talking about it, and then figuring out ways to move it forward. And I think it's there. I think that there is the will. We just have to figure out the how and continue to work on that together, because there's just a tremendous opportunity. I live in the rare tumor space, and between the FDA and the EMA and the regulatory, the national and the international research groups, the patient communities, people want this to be solved and I do hope that we will be able to get there. Dr. Davide Soldato: So I would like to thank Liz and Suzanne for joining us today. Dr. Suzanne George: Thanks for having us. Liz Salmi: Thank you. Dr. Davide Soldato: Suzanne, Liz, we appreciate you sharing more on your JCO article titled, “Overcoming Systemic Barriers to Make Patient-Partnered Research a Reality.” If you enjoy our show, please leave us a rating and a review and be sure to come back for another episode. You can find all ASCO shows at asco.org/podcasts.   The purpose of this podcast is to educate and to inform. This is not a substitute for professional medical care and is not intended for use in the diagnosis or treatment of individual conditions. Guests on this podcast express their own opinions, experience and conclusions. Guest statements on the podcast do not express the opinions of ASCO. The mention of any product, service, organization, activity, or therapy should not be construed as an ASCO endorsement.     DISCLOSURES Liz Salmi Speaking Honoria: Medscape. Research Funding (Inst): Abridge AI, Inc., Yosemite. Dr. Suzanne George Honoraria CStone Pharmaceuticals Consulting or Advisory Role Blueprint Medicines, deciphera, Bayer,  Lilly, UpToDate, Research to Practice, MORE Health, Daiichi, Kayothera, Immunicum, BioAtla   Research Funding Blueprint Medicines, Deciphera, Daiichi Sankyo RD Novare, Merck, Eisai, SpringWorks Therapeutics, TRACON Pharma, Theseus Pharmaceuticals, BioAtla, IDRx, NewBay Pharma, Acrivon Therapeutics   Patents, Royalties, Other Intellectual Property Company name: UptoDate Stock and Other Ownership Interests Abbott Laboratories and Pfizer Recipient: An Immediate Family Member

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We review some of the new tax proposals from each Presidential candidate. The IRS has announced the new per diem rates which may be utilized starting October 1, 2024 or businesses may wait until January, 1, 2025. Letters denying eligibility for the ERTC have been sent out to those who applied for, but didn't qualify. Delaware EARNS program requires action by October 15, 2024, even if you're exempt.   We also hear from Carol Everhart, President/CEO of the Rehoboth Beach-Dewey Beach Chamber of Commerce.  As the creator of the Sea Witch Festival, held every year in Rehoboth Beach, Delaware, she reviews key points to creating and hosting a nonprofit event.  For those interested in attending the 34th Annual Sea Witch Festival please use this link to view all of the activities! https://www.beach-fun.com/sea-witch-halloween-fiddlers-festival.html

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In this episode:  We discuss the taxability of Social Security income. A review of total income and Medicare premiums. We examine the tax liability of Hobby Income. FINCEN:  Foreign accounts with more than $10,000, even for a day, must be reported. The IRS has announced that they intend to start paying refunds for the ERTC. We are joined by Anastasia Jackson, Kent County Regional Business Manager for the Division of Small Business and the Delaware on Main- Statewide Coordinator.  She reviews several amazing programs geared to help Delaware's small businesses.  A must-listen for any entrepreneurs in Delaware.   

In this week's episode of Business by the Numbers, Hunt Demarest, CPA, dives into the latest updates on the Employee Retention Tax Credit (ERTC) from the IRS. This episode is a must-listen if you're unsure about your ERTC status or how it impacts your taxes.Explore the IRS's recent announcements and what they mean for your ERTC claims.Understand the different risk categories the IRS has assigned to ERTC applications.Learn the tax implications if you've received ERTC funds but haven't filed your taxes yet.Get practical advice on what to do if you're still waiting for your ERTC money.Thanks to our partner, NAPA TRACS Did you know that NAPA TRACS has onsite training plus six days a week support?It all starts when a local representative meets with you to learn about your business and how you run it. After all, it's your shop, so it's your choice.Let us prove to you that Tracs is the single best shop management system in the business. Find NAPA TRACS on the Web at NAPATRACS.comThanks to our partner, PromotiveIt's time to hire a superstar for your business; what a grind you have in front of you. Great news, you don't have to go it alone. Introducing Promotive, a full-service staffing solution for your shop. Promotive has over 40 years of recruiting and automotive experience. If you need qualified technicians and service advisors and want to offload the heavy lifting, visit www.gopromotive.com.Paar Melis and Associates – Accountants Specializing in Automotive RepairVisit us Online: www.paarmelis.comEmail Hunt: podcast@paarmelis.comDownload a Copy of My Books Here:Wrenches to Write-OffsYour Perfect Shop Aftermarket Radio NetworkRemarkable Results Radio Podcast with Carm Capriotto: Advancing the Aftermarket by Facilitating Wisdom Through Story Telling and Open DiscussionDiagnosing the Aftermarket A to Z with Matt Fanslow: From Diagnostics to Metallica and Mental Health, Matt Fanslow is Lifting the Hood on Life.The Auto Repair Marketing Podcast with Kim and Brian Walker: Marketing Experts Brian & Kim Walker Work with Shop Owners to Take it to the Next Level. The Weekly Blitz with Chris Cotton: Weekly Inspiration with Business Coach Chris Cotton from AutoFix - Auto Shop Coaching.Speak Up! Effective Communication with Craig O'Neill: Develop Interpersonal and Professional Communication Skills when Speaking to Audiences of Any Size.Business by the Numbers with Hunt Demarest: Understand the Numbers of Your Business with CPA Hunt Demarest.

In this week's episode of Business by the Numbers, Hunt Demarest, CPA, dives into the latest updates on the Employee Retention Tax Credit (ERTC) from the IRS. This episode is a must-listen if you're unsure about your ERTC status or how it impacts your taxes.Explore the IRS's recent announcements and what they mean for your ERTC claims.Understand the different risk categories the IRS has assigned to ERTC applications.Learn the tax implications if you've received ERTC funds but haven't filed your taxes yet.Get practical advice on what to do if you're still waiting for your ERTC money.Thanks to our partner, NAPA TRACS Did you know that NAPA TRACS has onsite training plus six days a week support?It all starts when a local representative meets with you to learn about your business and how you run it. After all, it's your shop, so it's your choice.Let us prove to you that Tracs is the single best shop management system in the business. Find NAPA TRACS on the Web at NAPATRACS.comThanks to our partner, PromotiveIt's time to hire a superstar for your business; what a grind you have in front of you. Great news, you don't have to go it alone. Introducing Promotive, a full-service staffing solution for your shop. Promotive has over 40 years of recruiting and automotive experience. If you need qualified technicians and service advisors and want to offload the heavy lifting, visit www.gopromotive.com.Paar Melis and Associates – Accountants Specializing in Automotive RepairVisit us Online: www.paarmelis.comEmail Hunt: podcast@paarmelis.comDownload a Copy of My Books Here:Wrenches to Write-OffsYour Perfect Shop Aftermarket Radio NetworkRemarkable Results Radio Podcast with Carm Capriotto: Advancing the Aftermarket by Facilitating Wisdom Through Story Telling and Open DiscussionDiagnosing the Aftermarket A to Z with Matt Fanslow: From Diagnostics to Metallica and Mental Health, Matt Fanslow is Lifting the Hood on Life.The Auto Repair Marketing Podcast with Kim and Brian Walker: Marketing Experts Brian & Kim Walker Work with Shop Owners to Take it to the Next Level. The Weekly Blitz with Chris Cotton: Weekly Inspiration with Business Coach Chris Cotton from AutoFix - Auto Shop Coaching.Speak Up! Effective Communication with Craig O'Neill: Develop Interpersonal and Professional Communication Skills when Speaking to Audiences of Any Size.Business by the Numbers with Hunt Demarest: Understand the Numbers of Your Business with CPA Hunt Demarest.

Get compensated for your hard work during the pandemic years with the help of LP Consulting! These ERTC experts offer claim assistance for hotels and restaurants, with a focus on compliance. Claim $21,000 per employee here: https://get26k.com/ LP Consulting LLC City: Monroe Address: 3648 Gruber Rd Website: https://get26k.com/ Email: lpciaff@gmail.com

Make a retroactive claim for the ERTC in 2024 with LP Consulting! This CPA specializes in the COVID stimulus and knows how to maximize your refund. Fill out a free online questionnaire to see if you qualify here: https://get26k.com/ LP Consulting LLC City: Monroe Address: 3648 Gruber Rd Website: https://get26k.com/ Email: lpciaff@gmail.com

Get your ERTC refund, fast - because LP Consulting makes it super easy. Just answer a few basic questions, and they take care of the rest. You'll get the maximum allowable refund, guaranteed, even with PPP loans. Visit https://get26k.com LP Consulting LLC City: Monroe Address: 3648 Gruber Rd Website: https://get26k.com/ Email: lpciaff@gmail.com

Feel like your business never fully recovered from the pandemic? LP Consulting LLC can help! They're offering a free eligibility checking process and filing services for the Employee Retention Tax Credit. Now is the perfect time to see if you qualify! Visit https://get26k.com/ LP Consulting LLC City: Monroe Address: 3648 Gruber Rd Website: https://get26k.com/ Email: lpciaff@gmail.com

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 loosened. The IRS is still working through processing Employee Retention Tax Credits (ERTC), but reports an excess of fraud and “unacceptable risk”.   Would you like to be a guest on our podcast?  Contact Denise at dmc@fawcasson.com

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Thinking about retroactively applying for the Employee Retention Tax Credit (ERTC) in 2024? LP Consulting can help! They offer free eligibility checks that can be completed in 15 minutes, and they'll make sure your documentation is audit-proof, too. Check out their filing services at https://get26k.com/ LP Consulting LLC City: Monroe Address: 3648 Gruber Rd Website: https://get26k.com/ Email: lpciaff@gmail.com

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Make your ERTC (Employee Retention Tax Credits) claim without any hiccups with the help of LP Consulting! They'll check if you're eligible for up to $21,000 per W-2 employee and make sure your application is audit-proof. Fill out the free online questionnaire at: https://get26k.com/ LP Consulting LLC City: Monroe Address: 3648 Gruber Rd Website: https://get26k.com/ Email: lpciaff@gmail.com

The latest episode of Tap Talk delves back into the topic of how to develop and train the newest generation of the water workforce. Jennifer and Steve talk with Matt Maas, the director of the Environmental Resources Training Center at Southern Illinois University Edwardsville. The ERTC is a one-of-a-kind facility with working pilot plants and laboratories that allow students to experience hands-on training throughout the entire certification program.  Visit drinkingwaterpodcast.org to learn more and find the full show notes for this episode!

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The ERTC is practically free money, no strings attached - so if you haven't claimed it yet, why not?! Seriously, all you have to do is apply, and that's easy. If you qualify, you'll get your refund in the mail soon. Just visit https://get26k.com LP Consulting LLC City: Monroe Address: 3648 Gruber Rd Website: https://get26k.com/ Email: lpciaff@gmail.com

The IRS continues to crack down on incorrect ERTC claims and recently released an update shining a light on 7 warning signs of incorrect claims. On this special bonus episode of The Bottom Line Pharmacy Podcast, Scotty Sykes, CPA, CFP and Bonnie Bond, CPA bring you tax updates that matter for your pharmacy including updates on ERTC, a new tax bill that may affect compounding pharmacies, changes in 1099s, and more! Want to read and follow along with this episode? Click here for the transcript.Check out all of our social media and stay connected with us:  Sykes & Company P.A.:  Facebook Twitter (X) LinkedIn Instagram  CPA's: Scotty Sykes – CPA, CFP LinkedIn Scotty Sykes – CPA, CFP Twitter Bonnie Bond – CPA LinkedIn Bonnie Bond – CPA Twitter  More resources about this topic:  ERTC Due diligence: https://www.sykes-cpa.com/ertc-due-diligence-the-bottom-line-pharmacy-podcast/ ERTC for Startups: https://www.sykes-cpa.com/employee-retention-tax-credit-for-startup-pharmacies/ IRS 7 ERTC Warning Signs: https://www.irs.gov/newsroom/irs-shares-7-warning-signs-employee-retention-credit-claims-may-be-incorrect-urges-businesses-to-revisit-eligibility-resolve-issues-now-before-march-22#:~:text=Here%20are%20some%20of%20the,sign%20of%20an%20incorrect%20claim. R&D Tax Information for Compounding Pharmacies: https://www.sykes-cpa.com/rd-tax-credit-opportunities-for-pharmacy-compounding-services/ 

Have you ever wondered how real estate investors can maximize their tax benefits through strategies like cost segregation? In this enlightening episode, host Angel Williams sits down with Gabriel Florentino, a seasoned expert in cost segregation and client development director at Engineers Advisor. Together, they delve into the nuanced world of cost segregation, the benefits of energy-efficient building incentives, and the crucial role of mentorship in mastering real estate tax strategies. Gabriel shares insights from his journey, emphasizing the importance of continuous learning and the impact of specialized tax strategies on investors' bottom lines. Whether you're a seasoned investor or new to the real estate world, this episode is packed with valuable tips and strategies to enhance your investment approach and tax efficiency.   Gabriel Florentino is based in Houston TX and has joined ETS as Client Development Director under Kim Lochridge's leadership. He's a graduate from The University of Houston, with a degree in Public Relations and minor in Economics. He has three plus years of experience related to 179D consisting of Energy Modeling, Final Reports to Clients, and QC of client documentation.    [00:00:00 - 00:05:00] Introduction to Cost Segregation: Angel and Gabriel discuss the basics of cost seg, Gabriel's background, and the focus of Engineers Advisor on midsize and small businesses.   Gabriel's mentorship journey under Kim Lockridge highlights the value of continuous learning. Engineers Advisor specializes in tax strategies that benefit real estate investors directly. Cost segregation as a tool for accelerated depreciation and tax savings.   [00:05:00 - 00:10:00] The Mechanics of Tax Incentives: Exploration of core services like R&D tax credits and energy incentives. Importance of R&D tax credits for various industries, including real estate. The role of energy incentives in promoting efficient building practices. Collaboration with CPA firms to enhance client tax strategies.   [00:10:00 - 00:15:00] Leveraging Specialized Tax Strategies: Gabriel shares insights into additional services like ERTC and historic tax credits. Diverse tax strategies beyond cost seg offer significant savings. The strategic partnership between Engineers Advisor and CPA firms. The introduction of grant funding as a means to support real estate projects. [00:15:00 - 00:20:00] Real-World Applications of Tax Credits: Detailed examples of 179D and 45L energy incentives. Practical implications of energy-efficient building incentives for investors. The critical role of meeting specific criteria to maximize tax credits. The evolving landscape of tax incentives and their impact on investment strategies.   [00:20:00 - 00:22:00] Innovative Approaches to Conservation and Efficiency Exploration of lesser-known tax credits for environmental conservation. The potential of hydroelectricity and other renewable energy sources in real estate. The importance of innovation in maximizing real estate investment efficiency and sustainability.   Key Quotes:   "The best thing that makes me good...is my mentor." - Gabriel Florentino   "We don't file taxes, we just come in and we do the tax strategies." - Gabriel Florentino   Connect with Gabriel:   Website: https://engineeredtaxservices.com/ Meet with Gabriel: https://calendly.com/gflorentino/30min?month=2024-01   Visit sponsorcloud.io/contact today and unlock $2,000 of free services exclusively for REI Rocks community members! Get automated syndication and investor relationship management tools to save time and money. Mention your part of the REI Rocks community for exclusive offers. Help make affordable, low-cost education summits possible. Check out Sponsor Cloud today!   LEAVE A REVIEW + help someone who wants to explode their business growth by sharing this episode. Are you confused about where to start? Join our community and learn more about real estate investing.  Head over to our Facebook Page, Youtube Channel, or website  https://www.theacademypresents.com/jointhesummit36848306. Connect with Lorren Capital, LLC. for syndicated multifamily investments, https://lorrencapital.com/. To learn more about me, visit my LinkedIn profile, and connect with me.

In the latest episode of the In Camera Podcast, Grace and Liel tackle the evolving landscape of employment retention tax credits with new insights from a recent conference. They unravel the complexities of IRS processing challenges, fraud impacts, and the potential for claim closures and re-openings, delivering essential updates for the legal sector.Shifting focus, they also dissect the intricacies of legal marketing, emphasizing ethical lead generation and the nuanced regulations surrounding veterans' settlements. The dialogue is a call to action for law firms to prioritize transparency and compliance in their marketing strategies.Listeners are treated to vital takeaways on leveraging financial incentives like tax credits, the importance of ethical marketing to maintain a law firm's integrity, and the need for proactive adaptation to regulatory changes. This episode is a treasure trove for legal professionals aiming to navigate the intricate dynamics of tax opportunities and marketing ethics in today's legal environment.Welcome to our conversation.Resources mentioned in our episode:ERTC UpdatesLearn Mass Torts Latest Camp Lejeune Lawsuit UpdatesEnjoy the show? Subscribe and leave us a review! Don't forget to send us your questions and comments at ask@incamerapodcast.com.

In this episode of "Business by the Numbers," Hunt takes a look at the current state of government spending, the intricacies of the debt ceiling, and how this affects businesses and taxpayers.• Current State of Government Spending and Debt Ceiling: The ongoing negotiations and potential outcomes if a spending deal isn't reached.• Impact on Businesses and Taxpayers: Important fiscal policies like the Child Tax Credit, Employee Retention Tax Credit, and R&D Credit, and how they affect U.S. businesses and individual taxpayers.• Political Dynamics and Future Projections: Analyzing the political landscape, including key figures and parties, and predictions on the government's fiscal direction.• Practical Implications and Advice: Hunt's insight on navigating the uncertainties in government policies and their impact on financial planning and business strategiesThanks to our partners, NAPA TRACS and PromotiveDid you know that NAPA TRACS has onsite training plus six days a week support?It all starts when a local representative meets with you to learn about your business and how you run it. After all, it's your shop, so it's your choice.Let us prove to you that Tracs is the single best shop management system in the business. Find NAPA TRACS on the Web at NAPATRACS.comIt's time to hire a superstar for your business; what a grind you have in front of you. Great news, you don't have to go it alone. Introducing Promotive, a full-service staffing solution for your shop. Promotive has over 40 years of recruiting and automotive experience. If you need qualified technicians and service advisors and want to offload the heavy lifting, visit www.gopromotive.com.Paar Melis and Associates – Accountants Specializing in Automotive RepairVisit us Online: www.paarmelis.comEmail Hunt: podcast@paarmelis.comGet a copy of my Book: Download HereAftermarket Radio Network

In this episode of "Business by the Numbers," Hunt takes a look at the current state of government spending, the intricacies of the debt ceiling, and how this affects businesses and taxpayers.• Current State of Government Spending and Debt Ceiling: The ongoing negotiations and potential outcomes if a spending deal isn't reached.• Impact on Businesses and Taxpayers: Important fiscal policies like the Child Tax Credit, Employee Retention Tax Credit, and R&D Credit, and how they affect U.S. businesses and individual taxpayers.• Political Dynamics and Future Projections: Analyzing the political landscape, including key figures and parties, and predictions on the government's fiscal direction.• Practical Implications and Advice: Hunt's insight on navigating the uncertainties in government policies and their impact on financial planning and business strategiesThanks to our partners, NAPA TRACS and PromotiveDid you know that NAPA TRACS has onsite training plus six days a week support?It all starts when a local representative meets with you to learn about your business and how you run it. After all, it's your shop, so it's your choice.Let us prove to you that Tracs is the single best shop management system in the business. Find NAPA TRACS on the Web at NAPATRACS.comIt's time to hire a superstar for your business; what a grind you have in front of you. Great news, you don't have to go it alone. Introducing Promotive, a full-service staffing solution for your shop. Promotive has over 40 years of recruiting and automotive experience. If you need qualified technicians and service advisors and want to offload the heavy lifting, visit www.gopromotive.com.Paar Melis and Associates – Accountants Specializing in Automotive RepairVisit us Online: www.paarmelis.comEmail Hunt: podcast@paarmelis.comGet a copy of my Book: Download HereAftermarket Radio Network

In this episode, I discuss potential tax updates outlined in the Tax Relief for American Families and Workers Act of 2024. These updates include changes to tax credits, business limitations, bonus depreciation, and more. I provide important information and recommendations for business owners, as well as insights into how these updates may impact individuals. Watch the video to stay informedand take necessary actions based on the proposed changes. 9 Key Updates: Tax Relief for American Families and Workers Act of 2024 Child Tax Credit Expansion: Increases the refundable portion of the Child Tax Credit for 2023-2025. Amounts per child will rise from $1,600 in 2023 to $1,800, then to $1,900 in 2024, and $2,000 in 2025. The calculation method for the refundable credit is also revised. Adjustments for Inflation and Earned Income: The Child Tax Credit will adjust for inflation from 2024 and includes changes in the rules for determining earned income. Research and Experimental Expenditures: The start of the five-year period for deductions in this area is postponed from 2023 to 2026. Increased Limitations on Business Expenses: Extension and increase in limitations related to the depreciation, amortization, or depletion for business interest determination, and expensing of depreciable business assets. Changes to Employee Retention Tax Credit (ERTC): The filing deadline for ERTC claims is moved up to January 31, 2024. The agreement proposes increased penalties for fraudulent activities associated with the ERTC, with significant financial consequences for non-compliance. Enhanced Penalties for ERTC Promoters: For those aiding in false ERTC claims, penalties increase to the greater of $200,000 ($10,000 for individuals) or 75% of the income derived from such activities. Promoters face a $1,000 penalty for each instance of failure in due diligence regarding a taxpayer's eligibility for the credit. Disaster Relief and Housing Initiatives: Extensions and exclusions in rules for disaster-related personal casualty losses, and initiatives to promote affordable housing, including specific provisions for the East Palestine, Ohio train derailment. US-Taiwan Tax Treaty: Incorporation of a tax treaty between the United States and Taiwan. Extension of 100% Bonus Depreciation: This benefit, which expired at the end of 2022, will be extended until the end of 2025. Thank you for listening to another episode of the Wealth Game Podcast. The goal is to get informal yet actionable advice directly to business owners and investors. The episodes are intended to be short and simple to allow busy professionals to get right to the point of growing their wealth and reducing their taxes. For topic suggestions, questions to cover, or collaboration requests please email admin@wealthgame.io. For additional information and links to all available platforms please visit our website at www.wealthgame.io Contact Us: Website: https://links.wealthgame.io Connect with Brent Bement: LinkedIn: www.linkedin.com/in/brentbement TikTok: www.tiktok.com/@brent_bement Twitter: www.twitter.com/WealthGamePod Threads: www.threads.net/@brentbement Instagram: www.instagram.com/wealthgame.io Facebook: www.facebook.com/wealthgamepodcast YouTube: www.youtube.com/channel/UCigDe1NmrAVG0jeG-6q1Rig

Host Ericka Adler is joined this week by fellow Roetzel shareholder and leader of the tax practice group, attorney Donna Hartl. Donna provides insight on how and why the Employee Retention Tax Credit (ERTC) was originally set up, and how some practices may have received poor advice in applying for the credit. They also discuss how practices can assure the credit was properly evaluated and how to handle credits they may have wrongfully obtained. Finally, Donna explains the current status of the ERTC and how practices can still seek out a proper tax credit. Find all of our network podcasts on your favorite podcast platforms and be sure to subscribe and like us. Learn more at www.healthcarenowradio.com/listen/

In this year-end episode of 'Business by the Numbers,' Hunt gives a comprehensive overview of the latest financial updates and what to expect in 2024. Dive into topics like the Federal Reserve's decisions, ERTC updates, and new tax laws with insightful analysis. Federal Reserve Insights: Discussion on the Federal Reserve's recent meeting and its implications for interest rates in 2024. Inflation and Economic Trends: Analysis of current inflation trends and predictions for the coming year. ERTC and IRS Updates: Latest information on the Employee Retention Tax Credit and IRS processing updates. 2024 Tax Law Changes: Insights into expected tax law changes and their impact on businesses. FinCEN Reporting Requirements: Overview of the new FinCEN Beneficial Ownership Information Requirements. Credit Card Processors' Class Action Settlement: Information about the recent class action lawsuit settlement involving credit card processors. The Future of Credit Card Fees: Predictions and insights into the potential changes in credit card processing fees.Thanks to our partners, NAPA TRACS and PromotiveDid you know that NAPA TRACS has onsite training plus six days a week support?It all starts when a local representative meets with you to learn about your business and how you run it. After all, it's your shop, so it's your choice.Let us prove to you that Tracs is the single best shop management system in the business. Find NAPA TRACS on the Web at NAPATRACS.comIt's time to hire a superstar for your business; what a grind you have in front of you. Great news, you don't have to go it alone. Introducing Promotive, a full-service staffing solution for your shop. Promotive has over 40 years of recruiting and automotive experience. If you need qualified technicians and service advisors and want to offload the heavy lifting, visit www.gopromotive.com.Paar Melis and Associates – Accountants Specializing in Automotive RepairVisit us Online: www.paarmelis.comEmail Hunt: podcast@paarmelis.comGet a copy of my Book: Download HereAftermarket Radio Network

In this year-end episode of 'Business by the Numbers,' Hunt gives a comprehensive overview of the latest financial updates and what to expect in 2024. Dive into topics like the Federal Reserve's decisions, ERTC updates, and new tax laws with insightful analysis. Federal Reserve Insights: Discussion on the Federal Reserve's recent meeting and its implications for interest rates in 2024. Inflation and Economic Trends: Analysis of current inflation trends and predictions for the coming year. ERTC and IRS Updates: Latest information on the Employee Retention Tax Credit and IRS processing updates. 2024 Tax Law Changes: Insights into expected tax law changes and their impact on businesses. FinCEN Reporting Requirements: Overview of the new FinCEN Beneficial Ownership Information Requirements. Credit Card Processors' Class Action Settlement: Information about the recent class action lawsuit settlement involving credit card processors. The Future of Credit Card Fees: Predictions and insights into the potential changes in credit card processing fees.Thanks to our partners, NAPA TRACS and PromotiveDid you know that NAPA TRACS has onsite training plus six days a week support?It all starts when a local representative meets with you to learn about your business and how you run it. After all, it's your shop, so it's your choice.Let us prove to you that Tracs is the single best shop management system in the business. Find NAPA TRACS on the Web at NAPATRACS.comIt's time to hire a superstar for your business; what a grind you have in front of you. Great news, you don't have to go it alone. Introducing Promotive, a full-service staffing solution for your shop. Promotive has over 40 years of recruiting and automotive experience. If you need qualified technicians and service advisors and want to offload the heavy lifting, visit www.gopromotive.com.Paar Melis and Associates – Accountants Specializing in Automotive RepairVisit us Online: www.paarmelis.comEmail Hunt: podcast@paarmelis.comGet a copy of my Book: Download HereAftermarket Radio Network

According to a recent worldwide survey, 25% of people are prepared to leave their current jobs, with better pay and perks topping the list of desires, and work-life balance valued, as well. Gene Marks shares some thoughts on this, as well as the apparent protest move of coffee badging, which should really make employers take a closer look at their office policies about remote work. The IRS is accepting the return wrongfully attained ERTC funds – and is throwing in a discount – and you'd be surprised what state one study found to be the hot spot for new businesses in 2024. Listen to the podcast. DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

In this episode, join our experts as they unravel the dynamic landscape of the Private Equity industry and offer insights into the latest tax strategies. Our host is joined by three of the firm's Private Equity Industry experts, Floyd Holliman, CPA, David Legrand, CPA, and Adam West, CPA, to concisely explore topics that impact returns and portfolio holdings, from navigating regulatory changes to planning techniques for businesses.In this Episode, you'll hear:Discussion regarding the Tax Cuts and Jobs Act and how it will affect businesses in the upcoming tax season Planning strategies to help businesses with inventory mitigate the loss of depreciation and amortization Details regarding the changes Section 174 of the tax code and how it affects R&D expensesAdvice about ERTC and how to make sure your business has proper documentationThis episode reflects our views at the time it was recorded.Resources for additional information:Blog: Eight Private Equity Trends to Expect in 2023 (And How to Respond to Them)Blog: A Business's Guide to R&D Expense Capitalization and Amortization ChangesBlog: 6 Tax Planning Items Ever Business Should Consider in Year-End Tax PlanningBlog: Significant Changes To How Your Company Accounts for R&D CostsBlog: 5 Ways a Company Can Use the R&D Tax Credit

SponsorsPadgett -  Contact Padgett or Email Jeff PhillipsJoey Vrooman, CPA, joins the show today and helps explain the importance of working to educate clients on financial literacy, despite common disinterest. He discusses tactics for simplifying complex terminology, using visual tools, meeting clients at their level, and the "win win" benefits for both advisor and business owner. (00:00) - Federal Tax Updates Episode 21 (01:11) - Welcome Joey to the show (03:02) - Defining financial literacy (06:04) - Teaching clients to understand finances (16:02) - Understanding client personalities and tailoring communication (18:54) - Managing pricing and margins during inflation (22:57) - Keeping financial information simple yet accurate (27:33) - Answering client questions on financial decisions (30:42) - Documentation to protect against liability risks (33:48) - Year-end tax planning with clients (39:28) - Confusion caused by media coverage and ERTC mills (43:32) - Wrap up and remember to subscribe

You know the phrase, “don't leave money on the table,” but have you applied for the Employee Retention Tax Credit yet? If not, that could be your money left on the table! The Employee Retention Credit (ERC), also called the Employee Retention Tax Credit (ERTC), is a refundable tax credit for businesses and tax-exempt organizations that had employees and were affected during the COVID-19 pandemic. Find out if you're eligible for ERC relief on this episode of the Cut to the Chase: Podcast, as Gregg Goldfarb interviews Ted Forman from Forman Law Offices. Ted is a skilled and successful courtroom litigator and negotiator in mass torts, medical malpractice, and serious personal injuries.  Today, Ted is busting myths and misconceptions around ERC eligibility and teaching you two ways your law firm (or other business) can qualify for ERC relief funds. Ted and his team at Forman Law Offices are ready to help you get your ERC money. Don't leave thousands on the table. Act now! Join Gregg and Ted on "Cut to the Chase" as they discuss: - How to qualify for the ERC program. - Am I eligible for ERC funds if I received PPP loans? - Do I need to do a financial analysis with my accountant to prove I am eligible for ERC? - The Revenue Reduction Test & The Temporary Partial Business Interruption Test. - How to work with Forman Law Offices to get ERC funds for your law firm. - What is the due date to apply for ERC money? When does the ERC relief program end? - How the IRS is preventing ERC fraud. - Can my other (non-law) business hire Ted to get ERC relief? - I'm a solo law firm owner with no employees. Am I eligible for ERC relief?   The resources mentioned in this episode are: - To figure out if your law firm (or other business) qualifies for ERC relief, you can use the Revenue Reduction Test and the Temporary Partial Business Interruption Test. - To work with Ted to receive your ERC funds, visit his website: https://www.formanlawoffices.com and call his office at 1-800-827-7731. - Depending on the tax year you apply for, due dates for ERC applications are April 15th, 2024 and April 15th, 2025.   To learn more about mass tort law cases and lawyer best practices, subscribe to the Cut to the Chase: Podcast with Gregg Goldfarb.