Podcasts about itemized

Welcome to episode 83 of the One for the Money podcast. This episode airs in April, which means we are in the final days of tax season. I've never met anyone who likes paying more taxes than they have to, and in this episode, I'll share how you can utilize the standard or itemized deductions so you don't have to pay them. Hence the title of this episode, not your standard tax savings strategy. In the tips, tricks, and strategies portion, I will share a tip regarding how paying it forward can save you on taxes. In this episode...Standard vs. Itemized Deductions [2:15]Tax Planning Strategies for Deductions [7:04]Benefits of Donating Stock vs. Cash [9:17]Importance of Tax Planning in Financial Strategy [11:32]MAINOne of the best financial planning quotes I've read is this “In America, there are two tax systems; one for the informed and one for the uninformed. Both are legal.”How true that is. But the challenge with being “informed” about taxes is that Taxes are incredibly complex. Just the federal tax code alone is over 6700 written pages, and the US treasury's interpretations of the tax code, because it isn't sufficiently clear, are tens of thousands of pages more. For these reasons and others, many individuals ignore the tax laws altogether and consequently pay more taxes than required. However, with a little bit of better tax planning, you can have a better life because you will pay less in taxes and have more money to spend on great experiences.A particular area that many taxpayers don't understand is the deductions everyone receives on their income. Deductions are the amount of your income that is not taxed at all. Taxpayers will take one of two forms of these deductions, which are known as either the standard deduction or itemized deduction. The standard deduction is a default amount of income that you would pay no taxes on. The itemized deductions are for those individuals who have certain key items (such as medical expenses, mortgage interest, gifts to charity, and state and local taxes) that would provide a higher amount of their income that is not subject to tax.Just what are the amounts not subject to tax, well in 2025 the standard deduction for an individual is $15,000, and for a married couple it is just double that or $30,000. A reminder, what that means is on the first $15,000 of income an individual pays 0% in taxes. So if a person has $65,000 of income in 2025, they would only have to pay Federal taxes on $50,000 because the first $15,000 of their $65000 salary is not taxed. I should note that the standard deduction wasn't always this high, but back in 2019 when the Tax Cuts and Jobs Act was passed, it doubled the standard deduction from what it was previously. Before this doubling of the standard deduction, just over two-thirds of taxpayers took the standard deduction and just under one-third itemized deductions, but now with the increase of the standard deductions, over 90% of taxpayers claim the standard deduction with just around 9% taking itemized deductions. That's a good thing for most tax payers as lower earners had more of their income not subject to tax.Just what are these itemized deductions? Itemized deductions are when individuals have items on which they spent their income, that in total, were higher than the standard deduction. Itemized deductions are captured on Schedule A of the tax forms. There are primarily four items. The first is Medical expenses, the second is mortgage interest on your primary and secondary residence, the third is state and local taxes, and the fourth is charitable contributions. For medical expenses, it is only for those that are above 7.5% of your AGI. So if your adjusted gross income was $100,000, you would include with your itemized deductions any medical expenses that were more than $7500 for that tax...

Want to keep more of your hard-earned cash out of the IRS's hands? We're breaking down the difference between standard and itemized deductions—so you can choose the best option and pay less in taxes.John Briggs | Tax Geniusinfo@incitetax.comVisit our website @ Incite Tax Schedule A CallFollow us on…FacebookLinkedInInstagramYouTube

In this episode, Kyle Hunt breaks down the essentials of tax planning for remodelers, sharing insights and strategies to understand and optimize the taxes you pay. Using his practical tax planning worksheet as a guide, Kyle covers key topics like tax brackets, deductions, S-Corp benefits, and the Qualified Business Income deduction—arming you with the knowledge to manage your biggest expense with confidence. Download the worksheet here and start taking control of your tax strategy today! Today's episode is sponsored by Contractor Growth Network. Discover how to build a brand that stands out at contractorgrowthnetwork.com. -----  Explore the vast array of tools, training courses, a podcast, and a supportive community of over 2,000 remodelers. Visit RemodelersOnTheRise.com today and take your remodeling business to new heights! ---- Takeaways Understanding taxes is crucial for business owners. Regular meetings with your CPA are essential. You should not be surprised by your tax bill. Itemized deductions can significantly reduce taxable income. The tax bracket you fall into does not reflect your overall tax rate. Qualified Business Income (QBI) deductions can lower your tax burden. Planning for taxes should be a year-round activity. Keeping accurate financial records aids in tax preparation. Being informed about tax laws can lead to better financial decisions. Proactive tax planning can alleviate stress during tax season.

Dr. Friday takes a festive break to remind listeners about itemized deductions. With thresholds at $14,600 for singles and $29,200 for married couples, many won't need to itemize. Enjoy your holiday while keeping this simple tax tip in mind for future planning. Transcript: G’day, I’m Dr. Friday, president of Dr. Friday’s tax and financial firm. To get more info, go to www.drfriday.com. This is a one-minute moment, and it’s Christmas Eve, and I know none of you are sitting around thinking about taxes on this day. Most likely you’re wrapping presents, putting together toys, or just basically chilling because you know tomorrow you don’t have to go to work. No matter how it works out, hopefully you’re going to enjoy it. But let’s talk a little bit about itemized deductions. This is an easy one. You’re not going to have to do anything because most of you are not going to meet the itemization. A single person is going to be $14,600, married $29,200, and head of household $21,900. You have to exceed that before it even kicks in for itemizing. So hopefully you’re going to enjoy the night. If you need help, 615-367-0819. You can catch the Dr. Friday Call-In Show live every Saturday afternoon from 2 to 3 p.m. right here on 99.7. WTN.

Today, I'm continuing my series about year-end tax saving tips and talking about charitable contributions and their tax implications for self-employed individuals including strategies for maximizing your charitable contributions.    Listen to this episode to get all the information you need to maximize your charitable donations and to learn the tax limitations of donating your creative work.     Also mentioned in today's episode:    Itemized deductions vs. standard deductions 2:30 Strategies for maximizing your charitable contributions 12:44 Donating creative work and tax implications 15:03   If you enjoyed this episode, please rate, review and share it!  Links: Qualified tax exempt organization search Mutual Aid: All the Tax Info You Need    

Dr. Friday discusses how to maximize itemized deductions, including mileage for charity, medical expenses, and long-term care deductions. She emphasizes identifying overlooked deductions that can help taxpayers reach the threshold for itemizing. For example, long-term care premiums can add substantial deductions, potentially pushing taxpayers over the itemization limit. Learn how to ensure no deductions are left on the table. Transcript: G’day, I’m Dr. Friday, president of Dr. Friday’s Tax and Financial Firm. To get more info, go to www.drfriday.com. This is a one-minute moment. When we think about itemizing, and many times I talk about mileage for charity, mileage for medical, and also talk about medical deductions, health insurance, any of these, but the problem is itemizing is difficult. But if you’re trying to find, maybe you’re close, and you’re sitting there going, well, if I only had a few thousand more in deductions, I would actually be able to itemize. And we don’t want to leave anything on the table. Keep in mind, if you have long-term care, you can deduct, if you’re 61 to 71, $4,710 of that long-term care. And if you’re married, obviously twice that, which may help kick you over when you’re dealing with the tax code. If you need help, 615-367-0819. You can catch the Dr. Friday Call-In Show live every Saturday afternoon from 2 to 3 p.m. right here on 99.7 WTN.

On this episode of "Ask AI," Matt Lavelle and Bern Podcasy tackle life's little annoyances!  We're asking AI for genius solutions to those everyday problems that drive us crazy.

In this video, I delve into the intricate details of itemized deductions in the ongoing tax battle between Trump and Harris. Exploring the implications of removing the $10,000 cap on state and local tax deductions, I highlight how this change could impact high-income earners and the middle class. No action requested from viewers.

The Dummies Podcast Ep. 291 “Itemized”

Dr. Friday breaks down the 2024 itemized deduction limits, noting that singles have a limit of $14,600, married couples $29,200, and heads of households $21,900. Those over 65 receive an additional $1,950 if single or $1,500 each if married. She emphasizes that not everyone will itemize, which might mean you’re saving money while still benefiting from a substantial tax deduction. For personalized help, reach out to Dr. Friday or tune in to her live call-in show every Saturday. Transcript: G’day, I’m Dr. Friday, president of Dr. Friday’s Tax and Financial firm. To get more info, go to www.drfriday.com. This is a one minute moment. Itemized deductions for 2024. So if you are single, you’re going to have $14,600. If you’re married, $29,200 and head of household, $21,900. If you’re over the age of 65, you’re going to get an additional $1,950 if you’re single. And if you’re married, a married couple will get $1,500 for each person over the age of 65. So when thinking about itemizing, a lot of times people, you’re not going to be able to do it. Doesn’t mean a bad thing. It just means you’re not spending as much money and still getting a big tax deduction. If you need help, call us. You can catch the Dr. Friday call-in show live every Saturday afternoon from 2 to 3 p.m. right here on 99.7 WTN.

Listener Q&A where Andy talks about: Itemizing sales taxes on Schedule A of your tax return, particularly when living in two states during the year ( 6:30 )Considerations when deciding between taking a pension or its lump sum ( 11:51 )Should a recently widowed person take advantage of their last year of Married Filing Joint tax brackets and do a large Roth conversion or IRA distribution ( 25:03 )Understanding the pro rata rule when doing a Roth conversion when you have multiple IRAs and a 401(k) ( 31:40 )How the IRS knows if you didn't take Required Minimum Distributions ("RMDs") when you were supposed to ( 37:02 )How to ensure your Treasury interest received (including when received indirectly through a money market mutual fund) is properly reported as tax-free on your state tax return ( 41:36 )To send Andy questions to be addressed on future Q&A episodes, email andy@andypanko.comLinks in this episode:IRS sales tax deduction calculator - hereRob Berger's YouTube channel - hereMy company newsletter - Retirement Planning InsightsFacebook group - Retirement Planning Education (formerly Taxes in Retirement)YouTube channel - Retirement Planning Education (formerly Retirement Planning Demystified)Retirement Planning Education website - www.RetirementPlanningEducation.com

This Lady Needs an Itemized Receipt 08/06/24

 In this episode, Jen addresses the legal requirements applicable to your employees' itemized wage statements.                                                                        

On this episode, we dive into the fundamentals of campaign finance reporting, exploring the essentials of what is included in these reports and uncovering valuable insights they provide. From contributions and expenditures to reporting requirements and deadlines, we break down the intricacies of campaign finance reports to empower you with the knowledge needed to navigate and comprehend campaign finance reports.   Attorneys Monika Graham Susan Finkle-Sourlis Victor Rivera Labiosa   Shownotes - Types of Campaign Finance Reports   - Federal perspective from the FEC (Federal Elections Commission)   - Similarities in state-level reporting   - Reporting requirements for federal candidates and campaigns   - Itemized contributions and reporting over $200 contributions   - Contents of Campaign Finance Reports   - Reporting contributions and expenditures   - Itemized details for contributors (name, address, employer, occupation)   - Types of expenditures (operating expenses, ads, mail pieces)   - Requirement for specifying the purpose of expenditures   - Insights from Campaign Finance Reports   - Identifying contributors and their occupations   - Insights into industry and issue-based PAC contributions   - Understanding compliance with reporting rules   - Reporting Deadlines and Requirements   - Quarterly and monthly filing options   - Late contribution and expenditure reports   - Pre-election reports (pre-primary and pre-general)   - Benefits of Reporting Monthly vs. Quarterly   - Differences in reporting frequency based on organization size and strategy   - Flexibility to change filing frequency each election cycle   - Disclaimer Requirements for Communications   - Purpose of disclaimers in public communications   - Requirements for printed and broadcast ads   - Candidate stand-by-your-ad statements in broadcast ads   Resources The Rules of the Game Election checklist Practical guidance: Non-profit voter assistance series FEC.gov    

In this week's Mac Geek Gab, dive into the latest Quick Tips and Cool Stuff Found that will keep your Mac life smooth and efficient. Time Machine gets a tweak with hourly, daily, and weekly options, while Zoom for Apple TV lets you disable Center Stage and manually control zoom […]

Roseanne and Richard King knew they were in a bad situation when a hospital doctor in Puerta Plata, Dominican Republic, told them they'd be there for a very long time.The two left their cruise ship on Thanksgiving Day after a ship's doctor diagnosed Roseanne King with double pneumonia.The hospital in which Roseanne King was admitted charged the couple $5,100 before she even stayed one night.“And if I didn't give my card, we don't know what would have happened,” Richard King said.Read the full story here: https://www.atlantanewsfirst.com/2024/02/20/dominican-hospital-charges-atlanta-couple-7100-refuses-give-itemized-bill/

It's time to kick off your tax preparations! A More Than Money listener wants to dive into the details of standard and itemized deductions. What exactly are they, and how can she determine the best fit for her situation? Art provides insights into these deductions and addresses another question about the optimal timing to initiate the use of sinking funds.Resources:8 Money MilestonesFree Resources from Christian Money SolutionsAsk a Money Question!

Check out this episode to learn about the IRS Form 1040 Schedules and itemized deductions.MX3 Podcast on Youtubewww.youtube.com/@mx3podcastContact MX3 Podcast Tweet us: @mx3podcast Email us: info@mx3.vip LinkedIn: https://www.linkedin.com/in/michael-w-wright-9397b23a/ Thanks for listening & keep on living your life the Wright way!

In this one-minute moment, Dr. Friday delves into the intricacies of itemized deductions for couples filing their taxes separately. While one might think it's as simple as taking the standard deduction, the IRS has specific rules that could surprise you. Learn how mortgage payments and charitable contributions play a role in this decision and why it's essential to be informed before making your choice. Transcript G'day, I'm Dr. Friday, president of Dr. Friday's tax and financial firm. To get more info go to www.drfriday.com. This is a one-minute moment. My spouse and I are filing separate returns. How do we split our itemized deductions? If you are filing, married filing separately, the one that is not paying, because so often what happens is one individual is paying the mortgage, maybe even doing the charitable contribution so they're exceeding the single standard and the other individual says, oh, I'll just take the standard deduction. Yeah, the IRS says nope. So if the one person is taking it all on their side, guess what? That other person has to take zero or what they actually paid out of their pocket when itemizing. Married filing separately may be more complicated than you thought. Check us out at drfriday.com. You can catch the Dr. Friday Call-In Show live every Saturday afternoon from two to three p.m. right here on 99.7 WTN.

Phillip Scott reports on a Sista that sent us her video showing that Portofino's in Charlotte, North Carolina tried to sneakily overcharge her. She caught them when she asked for an itemized receipt. --- Send in a voice message: https://podcasters.spotify.com/pod/show/africandiasporanews/message Support this podcast: https://podcasters.spotify.com/pod/show/africandiasporanews/support

Today, I'm sharing some tax basics and diving into tax schedules including what tax schedules are and why they exist. I'm also diving into capital gains, itemized deductions and self employment tax.    Join me in this informative episode to learn more about how tax schedules work, how they relate to you and how you can use this information during tax season to make your life easier.    Also mentioned in today's episode:    The basic structure of a tax return 3:57 What are schedules and why do they exist 7:14 Itemized deductions 10:17 Capital gains 19:30 If you enjoyed this episode, please rate, review and share it!    Links:   Free visual deductions guide Capital gains rate chart   Medical Deductions episode: https://pod.link/1640538610/episode/d579b85892ff41b9683a97ccc1dfc60b   Itemizing vs Business Deductions: Ending the Confusion: https://pod.link/1640538610/episode/22ba8efc03cd973d2684f4bc6f424e9d        

The Multnomah County Health Department has provided an itemized list of its controversial purchase of $84,212.93 in “smoking supplies” — including 31,000 straws, 90,000 sheets of tin foil and more than 55,000 pipes, which it planned to begin handing out to local drug users in July.Public pushback regarding the highly publicized plan caused county officials to temporarily suspend the policy on the grounds that it didn't follow “proper implementation protocols.” However, Multnomah County Health spokesperson Sarah Dean told KOIN 6 News that the plan, which used surplus funding from the county's syringe budget to accommodate changing preferences in drug use, was outlined before county commissioners during a May work session.“The board holds those public work sessions ahead of approving a final budget, which they did ahead of the fiscal year,” Dean said. “Board members often use these meetings to ask detailed programmatic questions. All Board members serving in May were in attendance during this portion of the work session when the health department shared their plans.”Support the show

Now that we're past the tax deadline of April 18, you may be tempted to throw your tax return into a drawer or folder and not think about your taxable income or deductions until next year. But now is the best time to look over what you filed and think ahead. Brian walks listeners through the 1040 tax form, so you can catch mistakes before it's too late and start planning for next tax year. Episode Highlights  Part 1: Personal information  This is the place to make an excellent first impression. Missing your name, address, and social security number will get you rejected immediately. Make sure your filing status and dependents are correct. The definitions generally focus on your status as of the last day of the last year, and if multiple options apply, pick the one that's best for you.  This section of the 1040 tax form also has two checkboxes. The first asks if you'd like to contribute $3 of your tax money to the presidential election campaign fund. The second asks about digital assets, such as cryptocurrency, and it's important to not skip.  Part 2: Gross income Gross income is pretty much anything and everything you've earned. Just some examples listed in IRS Code Section 61 include earnings from fees, commissions, fringe benefits, business gains and dealings, property interest, rent, royalties, dividends, alimony, annuities, and pensions.  Importantly, gross income doesn't just include cash. For example, exchanging legal services or dental services is also part of your gross income. Part 3: Above-the-line deductions  Once you have your gross income, it's time to make some adjustments, deductions, and allowances to figure out the final amount you owe the government. Figuring out your taxable income can be complicated -- after all, the tax code is 74,000 pages long. Use the income documents you receive, such as W-2s or NEC-1099s, and any tax software to guide you. Reading the form details can also be surprisingly helpful, and the IRS provides a guidebook called Publication 17.  In the tax world, there are two types of deductions: above-the-line deductions that reduce your total income and below-the-line deductions that reduce your taxable income. There are a lot of adjustments you can make, so take time to read through and figure out which ones apply to you.  Most people can access the above-the-line adjustments if they have a qualifying expense. You can find a list of your adjustments on Part 2 of your Schedule 1, the same document you use to identify additional income sources.  Part 4: Below-the-line deductions Your gross income minus the above-the-line deductions becomes your adjusted gross income (AGI). Now it's time to look at the below-the-line deductions to get to the final taxable income figure.  Take a look at the standard and itemized deductions. The standard deduction is the standard amount you can subtract from your AGI based on your filing status. Alternatively, you can deduct itemized deductions if the total adds up to more than the standard deduction. Itemized deductions appear on your Schedule A and include medical and dental expenses, interest paid on your mortgage or mortgage insurance, gifts to charity, casualty and theft losses, certain taxes, and more. If you're a business owner, the qualified business income deduction allows the owners of sole proprietorships, partnerships, S-corporations, and some trusts and estates to deduct up to 20% of their qualified business income (QBI).  Part 5: Other taxes Once you've subtracted your below-the-line deductions from your AGI, you have your taxable income. From your taxable income, the IRS uses its tax tables to determine how much tax you need to pay on your income.  The 1040 also has a line for other taxes. Several additional taxes that may need to be paid, such as the alternative minimum tax, which is an alternative form of taxation that applies to some taxpayers.  Part 6: Credits and payments The last way to reduce your tax involves taking tax credits. While a deduction reduces your taxable income, a tax credit has the advantage of deducing your tax liability dollar-for-dollar. Also, some tax credits are refundable, so even if your credit exceeds your tax liability, you get the excess back. Credits include the foreign tax credit, the child and dependent care credit, education credits, retirement sayings credits, adoption credits, alternative motor vehicle credits, and residential energy credits. The Schedule 3 form provides more information about the qualifications and restrictions of credits. Once you have your total tax, whether you get a refund from the government or owe tax money depends on payments made throughout the year through withholding from an employer and estimated tax payments. Resources + Links Form 1040 Form 1040X Schedule 1 Schedule 2 Schedule 3 Qualified Business Income Deduction “Can I deduct that as a business expense?” An Expert Guide To Understanding The 1120-S Tax Form Brian's Social Media: Twitter, Instagram, Facebook  About Brian and the Mission Driven Business Podcast Brian Thompson, JD/CFP, is a tax attorney and certified financial planner who specializes in providing comprehensive financial planning to LGBTQ+ entrepreneurs who run mission-driven businesses. The Mission Driven Business podcast was born out of his passion for helping social entrepreneurs create businesses with purpose and profit. On the podcast, Brian talks with diverse entrepreneurs and the people who support them. Listeners hear stories of experiences, strength, and hope and get practical advice to help them build businesses that might just change the world, too.

Maximizing Deductions - Making the Most of Itemized Deductions Thank you for listening to another episode of 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 questions@wealthgamepodcast.com. For additional information and links to all available platforms please visit our website at www.wealthgamepodcast.com

Brian and Derek discuss the people, policy, and politics that drive Texas, including: the emergency at our southern border, Texas' recently passed border security legislation, Republicans wanting to “raise the age” to buy rifles, a parent's worst nightmare – and the school that made it worse. And finally, some good news! Bill passes to give patients more info.

Support this podcast at patreon.com/qaf, venmo@ThePurpleAmazon, or paypal.me/RissyMcCoolThis week, we talk about particular grievances with insurance and the American healthcare system.Music by The Midnight

For more, check out The Profit Circle: https://www.patreon.com/theprofitcircle

"With tax withholdings, typically spread across pay periods to avoid a large lump sum in April. Under withholding can trigger penalties. Self-employer or contractors may not have taxes withheld. Be sure to account for all income sources. Deductions reduce the amount of income subject to tax. For some filers, itemizing deductions may make sense. Itemized deductions can include mortgage interest, property taxes, state income taxes, and student loan interest," says Carrie Schwab-Pomerantz.

Dave Ramsey & Ken Coleman answer your questions and discuss: Saving up for a dream car, Itemized vs. standard tax deductions, "I've had a series of financial disasters", "What should I do with $260K?" Cash-flowing car repairs. Have a question for the show? Call 888-825-5225 Weekdays from 2-5pm ET Want a plan for your money? Take our FREE 3 minute assessment: https://bit.ly/3nInETX Listen to all The Ramsey Network podcasts: https://bit.ly/3GxiXm6 Learn more about your ad choices. https://www.megaphone.fm/adchoices Ramsey Solutions Privacy Policy

Roger and Annie discuss Congress and IRS roles when it comes to taxes, how tax code is used to encourage behaviors, how tax policy scoring works, and explain deductions versus credits.SponsorsPadgett -  Contact Padgett or Email Jeff PhillipsGet NASBA Approved CPE or IRS Approved CELaunch the course on EarmarkCPE to get free CPE/CE for listening to this episode.Links mentioned in this episodeChapters (00:00) - Federal Tax Update E3 (01:32) - Don't miss the Deductions on Credits on your Tax Return (09:44) - How tax policy is scored? (15:15) - Limitations of Deductions and Credits (18:13) - Do you take a standard deduction or a Itemized deduction? (22:20) - Deductions on Charitable Donations (24:40) - Gift Tax Returns (29:07) - Education Credits (36:12) - Sole Proprietorship Deductions (40:57) - Refundable Credits (43:12) - What does it cost to raise a child? (46:57) - Updates on the Employee Retention Credit  Follow the Federal Tax Updates Podcast on Social Mediatwitter.com/FedTaxPodfacebook.com/FedTaxPodlinkedin.com/showcase/fedtaxpodConnect with the Hosts on LinkedInRoger HarrisAnnie SchwabConnect with Padgettwww.padgettadvisors.comtwitter.com/PadgettUSAlinkedin.com/company/padgett-business-services/ReviewLeave a review on Apple Podcasts or PodchaserSubscribeSubscribe to the Federal Tax Updates podcast in your favorite podcast app!This podcast is a production of the Earmark MediaThe full transcript for this episode is available by clicking on the Transcript tab at the top of this pageAll content from this podcast by SmallBizPros, Inc. DBA PADGETT BUSINESS SERVICES is intended for informational purposes only.

Dr. Friday 0:00 Good day. I'm Dr. Friday, President of Dr. Friday's Tax and Financial firm. To get more info go to www.drfriday.com. This is a one-minute moment. Dr. Friday 0:12 Standard deduction vs. itemized deductions. We know since 2018, we've had much larger standard deductions. Therefore, itemizing has become difficult. It doesn't mean that it's zero. The problem is you have to medical; if you have it, you have to take your income multiplied by 10%, basically, and then everything above that will start going towards your itemizing. You have the salt tax, which is state income tax, home mortgage interest, and charity and things like that as well. All of that for a single person has to add up to almost $13,000. If it doesn't, you might think about taking the standard deduction. Announcer 0:52 You can catch the Dr. Friday call-in show live every Saturday afternoon from 2 pm to 3 pm on 99.7 WTN.

As year-end approaches, I'm sharing how you can create a financial end of year strategy for yourself as a creative entrepreneur and how you can plan for your taxes to maximize the amount of cash you make.     Join me in this value-packed episode to learn how to get a head start on your taxes now.   Also mentioned in today's episode:    How you can reduce your taxable income 7:08 Itemized deductions 9:14 What you need to do at year end 11:53 Why you should start planning for your taxes now 13:58 1099's and how to get ready for them 18:41 How to prepare for taxes with W9's 21:20   If you enjoyed this episode, please rate, review and share it!    Links:   Year-End Tax Planning Checklist: 2022 Edition   https://www.sunlighttax.com/deductionsguide   https://go.sunlighttax.com/register

A TikTok'er posted a copy of a color-coded, itemized spreadsheet that her ex-boyfriend prints MONTHLY of their shared expenses! What do you think? Healthy or NUTS? Learn more about your ad choices. Visit megaphone.fm/adchoices

Steve got a Target Shopping cart yesterday.

Chad Lingafelt chats with Lars Johnston of Calgary Lock & Safe & Tony Hokanson of Assured Security all about Business Acquisitions. Today we are getting a little niche within the Security Industry with our expert panel to talk about Acquisitions. Are you are looking to retire and want to evaluate your business to see what it would be worth in the open market? We are diving in head first with tactile tips you need to know to find out What's it Worth! Chad, Lars, and Tony have all experienced multiple business acquisitions (at least 5ish) and today they share their knowledge and experience with you! Buckle in for a in depth conversation so full of information about acquiring a business that we had to split it into 2 episodes. (See Part 1 to learn how to acquire a business). In part 2, we discuss some of the things you need to consider when preparing your business to be sold. Are you looking for an exit? Tired of dealing with the day to day struggles and headaches that come along with running a business? Good News! You're in the right place today! We learn about Free Cash Flow (Discounted Cash Flow) and what is it worth on the open market and to the buyer. Purchasers are looking to make 20-30% over what they are paying the bank to make it worth the risk. Here are some tips that you need to know to get your business in order so it would be appealing to purchase! First Thing you Need to know is Your Business is Only Worth what someone will Pay for it! Get Your Books in Order! If it's not on the books, does it have value? You have to have clean financials and show profitability before it will be touched by a potential buyer. Inventory List: Do you even know what you have - Is it a pile of stuff in a warehouse that requires someone 100 hours to audit? Is it listed and categorized? Assets: Vehicles, Equipment, Real Estate - All must be accounted for, Itemized, and a current Value noted. Cash & AR: Always Negotiable and not always acquired in a sale. Do you have an emotional attachment to your business? Are you basing the sale on Dedicated Customer Base and “Potential”? These are signs that your business might not be structured in a way that it can even be acquired. This is a great conversation for folks looking to sell their business to a potential buyer. Looking to Sell Your Business? Connect with Chad Lingafelt for an Exploratory Call. https://www.businessmeeting.online/schedule-time-to-meet

Learn about the difference between itemized deductions and the "Standard Deduction", and how you can pay multiple years of charitable donations in one year to maximize the tax savings. Thank you for listening to another episode of 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 questions@wealthgamepodcast.com. For additional information and links to all available platforms please visit our website at www.wealthgamepodcast.com

Our entire episode today is based on a meme that says: “You haven't experienced true heartbreak until you've measured out a single serving of peanut butter.” It can be pretty depressing to see how what 200 calories of peanut butter really looks like, but we'll tie it all into expense planning.   Key topics on this show: 1:45 – Peanut butter 5:54 – Expense planning 8:34 – Itemized expenses 9:36 – Travel and experiences 11:10 – Psychological   Read more and get additional resources here: http://listentoscott.com 

Alternative tax bases (AMT, states). An alternative minimum tax (AMT) is imposed at the federal level on a somewhat modified version of taxable income. The tax applies to individuals and corporations. The tax base is adjusted gross income reduced by a fixed deduction that varies by taxpayer filing status. Itemized deductions of individuals are limited to home mortgage interest, charitable contributions, and a portion of medical expenses. AMT is imposed at a rate of 26% or 28% for individuals and 20% for corporations, less the amount of regular tax. A credit against future regular income tax is allowed for such excess, with certain restrictions. Many states impose minimum income taxes on corporations or a tax computed on an alternative tax base. These include taxes based on the capital of corporations and alternative measures of income for individuals. Details vary widely by state. Differences between book and taxable income for businesses. In the United States, taxable income is computed under rules that differ materially from U.S. generally accepted accounting principles. Since only publicly traded companies are required to prepare financial statements, many non-public companies opt to keep their financial records under tax rules. Corporations that present financial statements using other than tax rules must include a detailed reconciliation of their financial statement income to their taxable income as part of their tax returns. Key areas of difference include depreciation and amortization, timing of recognition of income or deductions, assumptions for cost of goods sold, and certain items (such as meals and entertainment) the tax deduction for which is limited. Reporting under self-assessment system. Income taxes in the United States are self-assessed by taxpayers by filing required tax returns. Taxpayers, as well as certain non-tax-paying entities, like partnerships, must file annual tax returns at the federal and applicable state levels. These returns disclose a complete computation of taxable income under tax principles. Taxpayers compute all income, deductions, and credits themselves, and determine the amount of tax due after applying required prepayments and taxes withheld. Federal and state tax authorities provide preprinted forms that must be used to file tax returns. IRS Form 1040 series is required for individuals, Form 1120 series for corporations, Form 1065 for partnerships, and Form 990 series for tax exempt organizations. The state forms vary widely, and rarely correspond to federal forms. Tax returns vary from the two-page (Form 1040EZ) used by nearly 70% of individual filers to thousands of pages of forms and attachments for large entities. Groups of corporations may elect to file consolidated returns at the federal level and with a few states. Electronic filing of federal and many state returns is widely encouraged and in some cases required, and many vendors offer computer software for use by taxpayers and paid return preparers to prepare and electronically file returns. --- Send in a voice message: https://anchor.fm/law-school/message Support this podcast: https://anchor.fm/law-school/support

There are basically two effective billing methods. A flat-rate white glove type method and a more itemized method where many things are billed to the client separately. Which one should you use?Leslie's Pro: Pool Service Pro, open a Wholesale account today! Customer referrals, free cleaner repairs, free water testing, open 7-days a week. It is fast and easy to become a Leslie's Preferred Pool Care Provider. https://lesliespool.com/commercial-services.html/?utm_medium=referral&utm_source=spll&utm_campaign=spll  

https://www.biggerpockets.com/blog/tenant-deposit-deductionsSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

ROI Podcast Disclosures: https://tinyurl.com/5dvfpszc Tune in today as Rob, Lance, and Sue talk The difference between making standard deductions vs. itemized deductions and how you can make them simple.  List for itemized deductions https://roi-fa.com https://roi-tax.com https://delavan-realty.com https://www.directorsmortgage.com/loan-officer/adrian-schermer

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Listen to The Financial Considerations of Being Your Own Boss: https://creativeplanning.com/education/podcast/the-financial-considerations-of-being-your-own-boss/The Standard Deduction podcast is hosted by Tax Directors Candace Varner and Ben Hake. This podcast is a thoughtful, informed discussion about ideas, trends and developments in taxes related to personal wealth management.Our mission is to educate and inspire people to make better financial choices through knowledge, tools and strategies. We believe that education and planning are key components of financial success. Come explore relevant financial topics with our team.Important Legal Disclosure: http://bit.ly/2DC250bHave questions or topic suggestions? Email us @ podcasts@creativeplanning.com

Itemized list of supplies, ingredients. --- Send in a voice message: https://anchor.fm/jason-scarabin/message Support this podcast: https://anchor.fm/jason-scarabin/support

While there are certain things that are contextual to churches in their given areas, there are also general principles all churches and leaders should have in place to ensure a healthy church. In this episode, we share 7 specific pieces of advice that are helpful to all church leaders regardless of context. Welcome to episode 266 of Practical Church Planting.  Here are the 7 things we discuss in this episode:  Eldership process in place Work boundaries Sexual guardrails Itemized budget Applying the Gospel before fixing the problem Clear, practical, and realistic launch plan Local friends Improve your church website This episode was brought to you by The Church Co. Get 40% off the first two years and have a fast, mobile-friendly, and well-designed website for your church. Use the promo code Practical at checkout to get 40% off and get a better website today. Visit thechurchco.com/practical for more info. CONNECT AND NEVER MISS AN EPISODE Be sure to subscribe to the podcast to get practical tips delivered right to you. For free resources to help you plant a church that thrives, check out practicalplanting.com.  You can also watch the video version of the podcast on our YouTube channel. Have questions or want encouragement from other church planters? Join the Practical Church Planting Facebook group.

Dr. Friday 0:00 Good day. I'm Dr. Friday, President of Dr. Friday Tax and Financial firm. To get more info go to www.drfriday.com. This is a one-minute moment. Dr. Friday 0:12 I need to try to understand why so many people walk into my office and they seem to be upset because they are not itemizing. Now, let's regroup here. If you don't spend 12,550 on property taxes, mortgage interest, and charity, the government's going to give you $12,550. So to me, it seems like this is a great thing. And if I did give an additional 300 to charity in cash, they're going to give me that too. So, don't worry about going into debt just so you can itemize. The best thing is to take the standard deduction and put the money in your pocket. Announcer 0:51 You can catch the Dr. Friday call-in show live every Saturday afternoon from 2 pm to 3 pm right here on 99.7 WTN.

Death & Taxes Podcast - S2E7. This week we have a guide on itemized deductions - The information provided on this podcast does not and is not intended to constitute legal advice. All information, content, and materials made available through this podcast are for general informational purposes only. Information in this podcast may not constitute the most accurate legal information for your location. Listeners of this podcast should contact their attorney to obtain legal advice with respect to any particular legal matter. No listener of this podcast should act or refrain from acting on the basis of information on this podcast without first seeking legal advice from their own attorney in their own jurisdiction. The views expressed in this podcast are those of mine only in my individual capacity and not those of my employer. All liability with respect to actions taken or not taken based on the contents of this podcast are expressly disclaimed. If you have questions about any of the content in this podcast, please write me. The content of this podcast is provided as is; no representations are made that the things I say on this podcast are error free. The following information in this podcast is meant for informational purposes only. It is not legal advice and is not designed to guide specific actions or inaction. If you have any questions, please contact me or your own attorney. For more information about this disclosure, please see the show description below.

Ah what a time of the year it is, new year's just past, Valentine's Day is quickly approaching and oh yeah, tax season is officially underway, Welcome to a new episode of the Danso Pitch Podcast. In today's episode our weekly hosts Charles and Daniel discuss the yearly season 'Uncle Sam' never ceases to forget to remind us of when to celebrate and that is filing our annual returns in a timely manner. In this episode Charles and Daniel break down key documents and their purpose's for filing as an individual as detailed below:What is capital gains tax? (2:48)Long Term Capital Gains/Short Term Capital gains (what's the difference)Form 1040, U.S Individual Tax ReturnForm 1040 E-Z Form (19:20)This allows you to itemize deductions as well as claim numerous expenses & tax creditsSchedule A (27:29)Itemized deductions1099 -INT, Interest Income (35:17)Part IIForm W-4 (39:56)Form W-2 (47:20)Wage & Tax FormTax Form to File for Sports Betting (58:28)FanDuel, BetMGM, Ceasers

Katy Tur did not mince her words as she enumerated Trump's bad deeds that effectively went unchecked by the Media & GOP. So, blame who? --- Support this podcast: https://anchor.fm/egbertowillies/support

Hosted by Creative Planning President Peter Mallouk, A Thousand Miles from Wall Street is a thoughtful, informed discussion about ideas, trends and developments in wealth management, financial planning, investments, tax and estate planning. Our mission is to educate and inspire people to make better financial choices through knowledge, tools and strategies that ensure a more prosperous future. We believe that education and planning are key components to financial success. Come explore relevant financial topics with our team! Important legal disclosure: http://bit.ly/2DC250b