Podcasts about moskowitz llp

Steve Moskowitz, LLM – Founding partner and Tax Attorney at Moskowitz LLP breaks down how to prepare for the approach of April 15th, where to start when you're unsure of how to minimize your liabilities, and how often even the simplest returns miss out on the advantages routinely employed by the 1%   Find Steve and his team at https://moskowitzllp.com or call 1-888-TAX DEAL (888-829-3325)   Air Date: March 27th, 2024   --   KMJ's Afternoon Drive with Philip Teresi & E. Curtis Johnson  Weekdays 2-6PM Pacific on News/Talk 580 & 105.9 KMJ    Follow us on Facebook, Instagram, and X  Listen to past episodes at kmjnow.com  Subscribe to the show on Apple, Spotify, or Amazon Music    Contact   See omnystudio.com/listener for privacy information.

Steve Moskowitz, LLM – Founding partner and Tax Attorney at Moskowitz LLP breaks down how to prepare for the approach of April 15th, where to start when you're unsure of how to minimize your liabilities, and how often even the simplest returns miss out on the advantages routinely employed by the 1%   Find Steve and his team at https://moskowitzllp.com or call 1-888-TAX DEAL (888-829-3325)   Air Date: March 27th, 2024   --   KMJ's Afternoon Drive with Philip Teresi & E. Curtis Johnson  Weekdays 2-6PM Pacific on News/Talk 580 & 105.9 KMJ    Follow us on Facebook, Instagram, and X  Listen to past episodes at kmjnow.com  Subscribe to the show on Apple, Spotify, or Amazon Music    Contact   See omnystudio.com/listener for privacy information.

Do you want to resolve your tax dispute with the IRS on your own terms? Are you searching for strategies to achieve a favorable outcome in your small business tax dispute? Look no further! Renowned tax attorney, Steve Moskowitz, is here to share his solution to help you attain the desired result - a favorable resolution to your IRS dispute. With over 30 years of experience, Steve Moskowitz is ready to provide valuable insights and guidance to small business owners facing tax disputes with the IRS. Get ready to settle your tax dispute on your terms with Steve Moskowitz.Keynotes: 1. Embark on a journey to resolve tax conflicts with the IRS systematically and effectively.  2. Recognize the significance of tax planning and learn how to capitalize on deductions.  3. Learn expert strategies for managing tax debt and securing negotiation payment plans with the IRS.  4. Gain knowledge on asserting your rights against the IRS during audits and avoiding common missteps.  5. Discover the benefits of seeking professional assistance for tax problems and ensuring optimum compliance.  The key moments in this episode are: 00:00:00 - Introduction,  00:02:22 - Steve's Background and Expertise,  00:05:05 - Benefits of Tax Planning,  00:09:29 - Dealing with IRS Troubles,  00:12:57 - Enforced Collection Action and Solutions,  00:15:03 - Payment Options for Tax Debt,  00:16:23 - Dealing with Unreasonable IRS Agents,  00:18:10 - Seeking Resolution in Tax Court,  00:19:21 - The Consequences of Ignoring Tax Problems,  00:20:40 - The Importance of Professional Help,  00:29:25 - Government's Financial Support,  00:30:49 - Qualifying for the Employee Retention Credit,  00:33:04 - Offer and Compromise Installment Agreements,  00:33:29 - How to Get Help,  00:34:27 - Importance of Seeking Professional HelpLinks:https://moskowitzllp.com/ LinkedIn - https://www.linkedin.com/in/stephenmoskowitz/ Facebook - https://www.facebook.com/MoskowitzLLP/ Youtube - https://www.youtube.com/channel/UCxtBF_t7UIY0VjJPJyazvrA Practical Tax with Steve Moskowitz Podcast - https://podcasts.apple.com/us/podcast/practical-tax-with-steve-moskowitz/id1460049574 Bio: As a tax attorney for more than 30 years, Steve knows that clients' lives – and livelihoods – can be upended or even destroyed when tax trouble arises. With extensive knowledge of tax law, a desire for a swift and vigorous defense, and decades of experience with tax authorities and in the courts, he is unusually perceptive in assessing the best way forward, and the right resources to achieve resolution. Steve started Moskowitz LLP because he saw that while big corporations were consistently navigating the tax code to their advantage, smaller businesses and investors were not. With prior experience as a CPA at a national accounting firm, and extensive experience in the corporate world, Steve knew he could help investors and smaller businesses by applying what he knew, and wanted to make a critical difference in his client's lives that protected them from the powerful government and enabled them to keep and enjoy the fruits of a lifetime of work that otherwise could be taken away from clients by the government in just one action. BHB2024Support the show

On this encore episode of the Passive Income Attorney Podcast, Seth is joined by tax attorney Steve Moskowitz as they talk about how creating more wealth will actually allow you to pay less taxes. Inside this episode, you'll learn how to bulletproof your taxes so you'll no longer fear the IRS or an audit. Steve will show you why having a great accountant on your team might not be enough - you need a great tax attorney. You'll learn how to take advantage of every dollar that you deserve to keep, but nothing that you don't. Steve is a tax attorney with over 30 years of experience and the founder of the tax law firm, Moskowitz LLP. Enjoy the episode!   “Most people cheat on their taxes. . .they cheat themselves.”   HIGHLIGHTS: Here's a breakdown of what to expect in this episode: A CPA who stumbled upon law school Why you need more than just a great accountant on your team Why are you cheating on your taxes? Four big benefits of having a pension Taking everything you deserve, but nothing that you don't Should you fear the IRS? How to sleep easy during an audit What actually happens when you get audited by the IRS And so much more!   ABOUT | STEVE MOSKOWITZ: As a tax attorney for more than 30 years, Steve knows that clients' lives – and livelihoods – can be upended or even destroyed when tax trouble arises. With extensive knowledge of tax law, a desire for swift and vigorous defense, and decades of experience with tax authorities and in the courts, he is unusually perceptive in assessing the best way forward and the right resources to achieve resolution. Steve started Moskowitz LLP because he saw that while big corporations were consistently navigating the tax code to their advantage, smaller businesses and individuals were not. With prior experience as a CPA at a national accounting firm and extensive experience in the corporate world, Steve knew he could help smaller businesses and individuals by applying what he knew. He wanted to make a critical difference in businesses and individual lives that protected them from the powerful government and enabled them to keep and enjoy the fruits of a lifetime of work that otherwise could be taken away from clients by the government in just one action. Today – together with a full team of tax attorneys, CPAs, enrolled agents, and other professional staff – Moskowitz LLP helps business and individual clients across the country and overseas to resolve a wide variety of tax matters. The Moskowitz LLP team also creates strategies to utilize the tax code and relevant treaties to clients' benefit and provides ongoing tax support and tax return preparation. Unlike most firms, Moskowitz LLP clients pay a flat fee and are not subject to hourly rates.   FIND | STEVE MOSKOWITZ: Website: https://moskowitzllp.com/  

On this encore episode of the Passive Income Attorney Podcast, Seth is joined by tax attorney Steve Moskowitz as they talk about how creating more wealth will actually allow you to pay less taxes. Inside this episode, you'll learn how to bulletproof your taxes so you'll no longer fear the IRS or an audit. Steve will show you why having a great accountant on your team might not be enough - you need a great tax attorney. You'll learn how to take advantage of every dollar that you deserve to keep, but nothing that you don't. Steve is a tax attorney with over 30 years of experience and the founder of the tax law firm, Moskowitz LLP. Enjoy the episode!   “Most people cheat on their taxes. . .they cheat themselves.”   HIGHLIGHTS: Here's a breakdown of what to expect in this episode: A CPA who stumbled upon law school Why you need more than just a great accountant on your team Why are you cheating on your taxes? Four big benefits of having a pension Taking everything you deserve, but nothing that you don't Should you fear the IRS? How to sleep easy during an audit What actually happens when you get audited by the IRS And so much more!   ABOUT | STEVE MOSKOWITZ: As a tax attorney for more than 30 years, Steve knows that clients' lives – and livelihoods – can be upended or even destroyed when tax trouble arises. With extensive knowledge of tax law, a desire for swift and vigorous defense, and decades of experience with tax authorities and in the courts, he is unusually perceptive in assessing the best way forward and the right resources to achieve resolution. Steve started Moskowitz LLP because he saw that while big corporations were consistently navigating the tax code to their advantage, smaller businesses and individuals were not. With prior experience as a CPA at a national accounting firm and extensive experience in the corporate world, Steve knew he could help smaller businesses and individuals by applying what he knew. He wanted to make a critical difference in businesses and individual lives that protected them from the powerful government and enabled them to keep and enjoy the fruits of a lifetime of work that otherwise could be taken away from clients by the government in just one action. Today – together with a full team of tax attorneys, CPAs, enrolled agents, and other professional staff – Moskowitz LLP helps business and individual clients across the country and overseas to resolve a wide variety of tax matters. The Moskowitz LLP team also creates strategies to utilize the tax code and relevant treaties to clients' benefit and provides ongoing tax support and tax return preparation. Unlike most firms, Moskowitz LLP clients pay a flat fee and are not subject to hourly rates.   FIND | STEVE MOSKOWITZ: Website: https://moskowitzllp.com/  

In this episode, co-hosts Bob Fraser and Ben Fraser are joined by tax planning expert Steve Moskowitz, founding partner of Moskowitz LLP, covering the basics of tax planning, including what it is, why you need it, and how to get started. Steve provides valuable insights and practical advice to help you navigate the ever-changing tax landscape. He also provides practical tips and strategies to help you minimize your tax liability and keep more of your money. Whether you're a small business owner, high-net-worth individual, or anyone looking to reduce your tax burden and keep more of your hard-earned money, this podcast is for you. Tune in and take control of your finances today. Connect with Steve Moskowitz on LinkedIn ⁠https://www.linkedin.com/in/stephenmoskowitz/ Connect with Bob Fraser on LinkedIn ⁠https://www.linkedin.com/in/bob-fraser-22469312/⁠ Connect with Ben Fraser on LinkedIn ⁠https://www.linkedin.com/in/benwfraser/⁠   Invest Like a Billionaire podcast is sponsored by Aspen Funds which focuses on macro-driven alternative investments for accredited investors. Get started and download your free economic report today at ⁠https://aspenfunds.us/report⁠  Join the Investor Club to get early access to exclusive deals. ⁠https://www.aspenfunds.us/investorclub⁠  Subscribe on your favorite podcast app, so you never miss an episode. ⁠https://www.thebillionairepodcast.com/subscribe

As a tax attorney for more than 30 years, Steve knows that clients' lives – and livelihoods – can be upended or even destroyed when tax trouble arises. With extensive knowledge of tax law, a desire for swift and vigorous defense, and decades of experience with tax authorities and in the courts, he has unusually perceptive in assessing the best way forward, and the right resources to achieve resolution. Steve started Moskowitz LLP because he saw that while big corporations were consistently navigating the tax code to their advantage, smaller businesses and individuals were not. With prior experience as a CPA at a national accounting firm, and with extensive experience in the corporate world, Steve knew he could help smaller businesses and individuals by applying what he knew, and wanted to make the critical difference in businesses and individual lives that protected them from the powerful government and enabled them to keep and enjoy the fruits of a lifetime of work that otherwise could be taken away from clients by the government in just one action. Today – together with a full team of tax attorneys, CPAs, enrolled agents and other professional staff – Moskowitz LLP helps business and individual clients across the country and overseas to resolve a wide variety of tax matters. The Moskowitz LLP team also creates strategies to utilize the tax code and relevant treaties to clients' benefit, and provides ongoing tax support and tax return preparation. Unlike most firms, Moskowitz LLP clients pay a flat fee and are not subject to hourly rates. For more information, go to https://moskowitzllp.com/

Your host, Jackie Meyer, talks with the Founder of Moskowitz LLP, Steve Moskowitz. Convinced that he could make a critical difference in the lives of small businesses and taxpayers in the Bay Area, Steve assembled a team of attorneys and accountants who were as committed as he was to protecting business owners and taxpayers. Moskowitz LLP focuses on meeting the business and personal needs of its clients. The firm is comprised of attorneys, accountants, enrolled agents, paralegals, bookkeepers, and other assorted professionals. They also partner with engineers, private investigators, appraisers, and fiduciaries. To learn more about Steve's work, click HERE.Interested in being a guest on the show? Apply HERE! Check out more of Jackie's work at https://www.jackiemeyercpa.com/.

Profit aside, what business goals should drive successful businesses and should you ever consider advising a high school student to attend a trade school over college? Episode Transcript Intro: Welcome to the Practical Tax podcast, with tax attorney Steve Moskowitz. The Practical Tax podcast is brought to you by Moskowitz, LLP, a tax law firm. Disclaimer: The information contained in this podcast is based upon information available as of date of recording and will not be updated for changes in law regulation. Any information is not to be considered tax advice or legal advice and does not form an attorney/client relationship. Further, this podcast may be construed as attorney advertising. You should see professional consultation for your individual tax and legal situation. Chip Franklin: Welcome again to another edition of Practical Tax with Tax Attorney, Steve Moskowitz. Steve, it's interesting that you talk probably to as many individuals as you do businesses, which is the bigger part of the Moskowitz LLP practice? Steve Moskowitz: Both, because we're mostly dealing with business people. But besides dealing with the business, we deal with their taxes personally, and there's such an interrelation. And then usually there's a relation with the spouse, possibly the kids. So, it's not just, "Oh, we'll do the business and they'll do something else," the individual. We look at the whole package, what's best for the business, what's best for the individual. Chip Franklin: That's great. I mean, and that brings us to our next guest, is Dr. Jane Gardner. She is a business specialist and a strategist who has been doing this for more than 30 years and nice enough to join us here on Practical Tax. Good to have you here, Dr. Jane. Jane Gardner: [inaudible 00:01:17]. Steve Moskowitz: Hi Jane. Chip Franklin: What are some of the guiding principles for business objectives other than profit? I know profit is the one, but what are some of the other ones? And both of you just jump in. Jane Gardner: Oh, I'd love to talk about that because it's about people too. We have to put in the people place and I really believe that a lot of CEOs that I'm working with are beginning to do that. And not only to do that, but beginning to see that it increases their profits when they become more caring, more understanding, more valuing of their employees, they work harder, performance goes up. Chip Franklin: Steve, you've had hundreds of employees over the years. Do you find that that's part of it with the people that you hire, as well? Steve Moskowitz: Absolutely. And one of the things I pride myself on is I have a number of colleagues and we've worked together for over 20 and 25 years and in today's marketplace that says something. I very much believe in the people and, as far as a business goes, of course, profit is super important. But when you care about things like being green, when you care about doing good social things, the irony is not only do you feel better and you're doing a good thing on this earth, the irony is you actually do wind up making more profit. And I see that. And sometimes there have been some individuals that I've dealt with that were in their business for a long time and let's just say that they were a little gruff and they knew how to do something. And I said, "Well, the way you're treating people, do you know why you have nine different assistants during one year? There's a reason for that. They're not lazy or stupid. It's not them. It's you buddy." And- Jane Gardner: Oh, Steve. That's a hard one. That's a hard one to come up with, isn't it? It's about you. Oh, whoa. Steve Moskowitz: I've been in California for over 30 years, but I moved here from New York City and in New York we were direct. And although people out here have made me nicer and I want to give them credit, and there's colleagues of mine that have taken some of the New York out of me and made me nicer,

On today's episode; Steve sits down with Brett Swarts, Founder/President of Capital Gains Tax Solutions to discuss Deferred Sales Trusts, 1031 exchanges, and Delaware Statutory Trusts! Episode Transcript Intro: You're listening to the Practical Tax podcast with tax attorney Steve Moskowitz. The Practical Tax podcast is brought to you by Moskowitz LLP, a tax law firm. Steve Moskowitz: Welcome, and thank you for joining us, and it's my honor to have Brett Swarts joining us. He's considered one of the most well-rounded capital gains deferral experts and informative speakers in the country. He's founder of Capital Gains Tax Solutions, and I'll ask you to give us your phone number a little bit later. And he is an exclusive Deferred Sales Trustee. He's host of "Capital Gains Tax Solutions Podcast", and a lot of other things. He has great strategic alliances and clients, and he's created and developed tremendous tax areas where we can go ahead and do all kinds of wealth planning. One of my favorites is DST, Delaware Statutory Trust. Recently, I was quoted in the Wall Street Journal about Delaware Statutory Trust, so you know how I feel about them. And he goes ahead and he's gonna create and preserve all kinds of wealth for you. He's passionate about what he's doing. His experience is tremendous with the DSTs and the 1031 exchanges, and commercial and all the real estate brokerage. And formally, he was with one of the largest brokerage firms, and now he's in Sacramento and he lives in Roseville, California with his wife and their five kids. So we know that he has to be making lots of money to make this work. And without further ado, I'd like to open the floor. And let's begin, tell us about transformational exit planning, versus transactional exit planning. Brett Swarts: Thanks Steve, a pleasure to be here. And yes, so Brett Swarts, founder of Capital Gains Tax Solutions. So transformational exit planning I like to kinda define in a couple different ways, and it can be transformational for different people in different ways, but we've all heard about financial freedom, right? You have enough income to pay for our expenses, and maybe perhaps we don't have to work anymore. We have enough passive income doing those things where we can free up some of our time freedom, which is kind of the second part of a transformational wealth plan or financial plan. The third one has to do with what's called entrepreneurial freedom, right? The ability to start a business or start a new venture or buy some real estate and doing that at what I like to call kind of the fourth freedom, which is optimal timing. And collectively, you have to look at multiple things and I actually have this, a Rubik's cube here, Steve, and I actually bought this on Amazon. And sometimes people show up to us and they have these different colors on different ends, and it's kind of outta whack and different ways of adjusting what's called tax flow versus cash flow planning. We try to create something where it's as congruent for life, for freedom of time, energy, entrepreneurial freedom. The last one has to do with location freedom, right? As at the end of the day, a lot of people are moving out of California. A lot of people are moving out of their business transactions, moving out of these high end primary homes. And our overall goal is what? It's freedom, freedom with their capital, freedom with their time, freedom with their finances, freedom with entrepreneurial ventures and then freedom with location. And then collectively, if you can bring these together with the right set of professionals, you can achieve what's called a transformational exit plan or wealth plan. Steve Moskowitz: And I can say that in practice, we see the client, so just leaving California in droves, and it's so important because California is an extremely aggressive state and people think, "Well, I'll just move and that's that, "and I don't have to pay those taxes anymore.

On today's episode; Steve sits down with Roger Knecht, President of Universal Accounting Center to discuss the ways in which both firms' distinction between tax planning and tax preparation helps their clients stay ahead of the game with proven strategies for your business! Episode Transcript Intro: You're listening to the Practical Tax podcast with tax attorney Steve Moskowitz. The Practical Tax podcast is brought to you by Moskowitz LLP, a tax law firm. Steve Moskowitz: Welcome to everyone. And we're looking forward to another podcast, and we're looking forward to tell you all the benefits you can have for your tax return. And it's a shame, 'cause most people, they think about their tax return, and they think about, well, that's some guy movin' the numbers from one place to another. And you know what? We're already laughin', there's so much more to it. And in addition to savin' you taxes, this also helps you to run your business. So, what I'd like to do is go ahead ask our guest to introduce himself and tell us all about you. Roger Knecht: Happy to. First of all, Steve, thank you for having me on the webinar or podcast here. The idea is, I'm Roger Knecht, President of Universal Accounting Center, and I've worked with accounting professionals for more than 20 years now, helping them run and operate their businesses. And the advice, the suggestions that I hope to offer today are meant to help you build a better relationship with the accounting and tax professionals that you're interacting with, as you run your businesses and live your lives. Steve Moskowitz: Excellent. And what we're gonna do is go ahead and say, so somebody knocks on your door and says, "Hi, how can you save me money? "What's the secret, what do the big boys do?" What would you tell 'em? Roger Knecht: Well, the big boys have a variety of strategies that some of us lessers don't necessarily have access to, but I can give you the distinction that I think we should start with, in that there's a difference between tax planning and tax preparation. I think one of the first errors that we need to recognize is, whether we're individually or as a business, looking at the taxes, we need to realize that December 31st for most things is kind of a drop dead date, and too often what happens, whether either individually or with our companies, we fail to realize that tax season isn't April 15th or maybe some other tax deadline. It literally is the end of the calendar or fiscal year, and so anything we can do with the tax preparer before those deadlines to mitigate our tax liabilities is very prudent. It's smart, it's important. Sit down with someone and actually kind of come up with a strategy, a plan of how you're going to mitigate your tax liabilities. Steve Moskowitz: And that's so true, and that's so important. And that 12/31 deadline, I call it 12/31 Year One, is so important, and so many things do have to be done by 12/31 Year One, however, there's some exceptions. A lot of the pension plans allow you to go ahead and create them and fund them up to the time of filing the return plus extension, so that's something you can do in Year Two that will save you taxes in Year One. And another thing is amended tax returns. A lot of times clients will come into our office, and I'm sure the same with yours, and you say, "Well, you can do this and this and this." And they invariably say, "Oh, is that new this year?" And I say, "No, it's been around for years." And they say, "Well, how come my last person didn't do that?" And we say, "Well, that's why you're here." And then, we can go back and amend the federal return for the last three years. So sometimes, it's not only about saving money for the current year, but going back three years on the federal return. And if you're in a state that has a state income tax, amending that one as well, and there's different statute of limitations for those states. So Roger, tell me some other things,

In this Episode, Steve and Chris continue their talk on corporate formalities and why they are important. They discuss the importance of board meetings, piercing the corporate veil, and shareholder basis record keeping. Listen to the full episode to learn more! Episode Transcript Intro: You're listening to the Practical Tax podcast with tax attorney Steve Moskowitz. The Practical Tax podcast is brought to you by Moskowitz LLP, a tax law firm. Steve Moskowitz: Welcome to everyone. We're here to talk to you about all the benefits that a corporation can provide to your business. I'd like to introduce my friend and longtime colleague, attorney and EA, Chris Housh. Chris, you have so much experience in this. What's the benefit of being a corporation? Chris Housh: The main benefit is that you have what's called a corporate shell. So by going and making where you're treating your business as being something separate than your own individual self and having the formalities in place, you're making it where the government and all of your creditors recognize that your personal assets are not something that can be grabbed if something happens with your corporation. Also, if something happens for you individually, your corporation, your business, is protected from your personal creditors. Now you do have to go and make sure that you follow the rules, that you actually put everything in place. But once you've done that, you've created the beneficial element of protection. You also have tax benefits, whereas, especially within current laws, as they were changed in 2018, expenses and deductions that you cannot get as an individual the corporation is allowed to deduct, as long as it's a regular ordinary expense of the business. And that includes things like the state taxes, and other expenses that you're incurring, that you would not be allowed to deduct as an individual. Steve Moskowitz: So, Chris, that sounds like really a big deal. That's asset protection, 'cause you know, there's a lot of risk in business. And a lot of people would like to go into business, but they don't wanna risk everything they worked for in a lifetime. That sounds like a tremendous deal. And how does it work for taxes? Does it make a difference of your corporation for taxes? Chris Housh: Yes, now there's two kinds of corporations. There's what's called a C corporation and a S corporation. The C is the default, but you never wanna actually be a C Corp, unless you fit into a specific category. The three times that you are forced to stay as a C corporation, is if you're gonna have a hundred or more shareholders, if you have any foreigners that are shareholders, or if you're planning on actually going and having your stock sold on the stock market, NASDAQ or the top 500, they require you to be a C corporation. The problem is a C corporation is taxed at the corporation level, and then taxed again at the shareholder level for any money that comes out of the corporation to the shareholder. So you're double taxed. You don't want that. It's more frustrating to have to go and deal with that. Instead you wanna be able to go down to the S corporation. An S corporation, again, you get to have all those deductions that are regular for a business, reduced down the profit that S corporation, as long as you don't fit into the circumstances of being required to be a C Corp, you then have it where your net profit, after all those expenses, flows down into your individual tax return, the corporation doesn't pay any tax, and then you can have your other items of income and expense deducted against what the corporate profit is. And if your corporation loses money, and you're actively working the business, those losses can actually offset your other income. So you get definite benefit out of that, while also again, protecting your assets, protecting your interests, and making where you have the safety of a corporate shell. Steve Moskowitz: Well,

In this Episode, Steve and tax attorney Chris Housh come together to discuss how Moskowitz LLP can help businesses with Corporate Formation and Formalites by creating an annual plan and meeting throughout the year to stay ahead of the game. An annual plan with Moskowitz LLP is talior-made to help save you time and money, and more importantly, give you peace of mind so you can focus on growing your business. Listen to the full episode to learn more! Episode Transcript Intro: You're listening to the Practical Tax podcast with tax attorney Steve Moskowitz. The Practical Tax podcast is brought to you by Moskowitz LLP, a tax law firm. Steve Moskowitz: Welcome everyone and thank you for listening to our podcast, and this is part two. So if you haven't heard part one, that's okay 'cause you could really do either one of these parts, first or second. But if you like what you're hearing here, do go ahead and listen to the other part 'cause we have a lot of good information in there. And just basically as a real quick summary, on the other one we talk about the asset protection of a corporation or other entity. Where if you get sued or something bad happens or you can't pay the bills, how the entity protects you from the other side going after your personal assets or other corporate assets? We've talked about how there's tax advantages. We've talked about how there's a special workaround for certain corporations to get around the limitation on deducting state taxes on the federal returns, for those of you that are in states that charge state taxes. And some of the states charge a lot of state taxes. We've also talked about potential pension benefits of a corporation and a lot of other things. And an awful lot of people are in business as a sole proprietor and that's sometimes fine, but a lot of times it's not. And a lot of times that person would be much better off if they were in an entity like a corporation. And we explained the differences between a C-Corp and an S-Corp. Where C-Corp has a double taxation, whereas an S-Corp doesn't. And a partnership, and LLC. And sometimes one entity is better for something than something else. But the bottom line is, go ahead and listen to the other podcast for this. Today, on this podcast, we're gonna work on the formalities and the formation. And one of the things that I hear when I recommend this to people is, "Well, what about, oh, there's all of these technicalities. Now I'm busy doing business, I can't be bothered with all this formal stuff." And to answer that, I'd like to introduce my friend and colleague of over 20 years, Attorney and EA, Chris Housh. Chris Housh: Thanks Steve. Yes, we understand. If you did the time for every crazy formal thing that is requested for you, you'd have no time to actually do the business that you actually are out there doing, the thing that you're best at. So as the attorneys that are working with you on this, we let you know what the formalities are, and also help you take care of them. Steve Moskowitz: So do you help 'em take care or do you just do it for 'em? Chris Housh: I look at it as that we are a team. And so I will do the actual writing up of the elements. I'll do the hard work, but I need their input. I need their help on things. I also schedule times to make it easier. Make it where you can say, okay I'm gonna set aside this time because I understand time is very valuable for everybody especially a business owner. And I try to make it where it's as easy as possible for you to go and be able to do these things. So I narrow down at the beginning, when I'm setting up for a business, I send out a eight question questionnaire so that it's not a overwhelming burden. I've seen some places that will send you a 20 page questionnaire. If you had time to do that, you know, you're not really going in needings that situation. I can narrow it down, get you started, and then ask you a couple of key questions to make it where I...

In this Episode, Steve and Cliff discuss common tax issues with Stock Options. This discussion is aimed at the employee who receives stock options as part of their compensation. Discussion of Tax Strategies for ESOP, RSUs, and ISOs. 83b elections, tax timing and rules and common tax preparation mistakes. Listen to the full episode to learn more! Episode Transcript Intro: You're listening to the Practical Tax podcast with tax attorney Steve Moskowitz. The Practical Tax podcast is brought to you by Moskowitz LLP, a tax law firm. Steve Moskowitz: Welcome back, folks. This is Steve Moskowitz and Cliff Capdevielle, and we wanna show you how we can save you some taxes. I'm the head of the firm, I am a tax attorney, and before I was a tax attorney I was a CPA. I started life off in a big firm, and then opened up my own practice many years ago. My friend and colleague, Cliff Capdevielle, is also a tax attorney and accountant. He also came out of a big firm. And there's so much here that we wanna talk to you about. A lot of times when you go to work someplace, they say, "Well, your salary is so much, "but we're gonna give you extra benefits "like stock options." And one of the things that you say, "Well, okay, that's good, "but I wanna do what the wealthy do, "I wanna go ahead and make all kinds of money, "and take all kinds of tax advantages of this." So you have a stock option. There's something that you should know about called an 83 election. And basically what an 83 election will do for you, is greatly reduce the amount of taxes which you have to pay on that stock option. And you say, "What's 83 , Steve?" Well, that one refers to 83 in the Internal Revenue Code. But Cliff, tell us about what's an 83 election. Cliff Capdevielle: Sure, so what you wanna do when you're planning for employee stock options, is make sure that to the extent possible, you are capturing any gains as long-term capital gains versus short-term capital gains. Steve Moskowitz: What's the advantage between capital gains and ordinary income tax, Cliff Cliff Capdevielle: And it's huge, it is huge, Steve. It's almost double. So ordinary rate for most people is 30 to 37%, guess what, if you can convert ordinary income to capital gains, you can reduce that rate to 20% or below. So you're essentially cutting your tax in half if you do that, Steve. Steve Moskowitz: Well, I like cutting the tax in half, and I would be willing to venture, Cliff, that everybody watching this or listening to this would like to cut their tax in half too. So, okay, this is great. Tell me how do I cut my tax in half? Cliff Capdevielle: Yeah, so with an 83 election, you essentially notify the government that you're picking up an income, a very small amount, which is the the fair market value on the date that the options are granted to you and you pick that up, and that starts the running of the holding period for capital gains rate. So in other words, if you hold that stock more than a year, you've converted what would typically be ordinary income tax at ordinary income rates to capital gains rates. So it makes a huge difference. And we see a lot of mistakes, Steve, unfortunately. Steve Moskowitz: Whole lots of mistakes here. Cliff Capdevielle: With the startups in Silicon Valley and even with mature companies, we see major mistakes when people go to their local CPA firm or their local tax preparer, not making these basis adjustments, not calculating the capital gain rates, it's unfortunate these laws are pretty complicated, and if you don't know how they work, you can end up paying a lot more tax than you need to. I'll give you an example, with non-qualified stock options. These are typically called RSUs, sometimes ESPP. These options are actually included in the gross income part of wages, so these are actually included in W-2 wages. Guess what? Oftentimes the broker dealer will report these without the basis adjustment. In other words,

Steve sits down with guest Kerry Lutz to talk all things finance. From how to pay the minimum amount legal taxes, to tax incentives that motivate Kerry, and even some hot predictions about inflation. You'll want to make sure to listen to every minute! Listen to the full episode to learn more! Enjoying the Podcast? Take our quick survey to let us know what we're doing right and what you want to hear more of! Episode Transcript Intro: You're listening to the Practical Tax podcast with tax attorney Steve Moskowitz. The Practical Tax podcast is brought to you by Moskowitz LLP, a tax law firm. Steve Moskowitz: Hello and welcome to everyone out there. We'd like to thank you for joining us today. And I'm Steve Moskowitz, the host and I'd like you to go ahead and introduce yourself and tell the audience about yourself. Kerry Lutz: Okay, well, I'm Kerry Lutz, recovering attorney, podcaster, communications consultant, work in alternative investments and have got a podcast, the "Financial Survival Network" that has been running since 2011, over 7,500 episodes. Steve Moskowitz: Very nice. And tell us what your thoughts are when you think about this time Lutz, the favorite time of the year, tax season. Kerry Lutz: My favorite. My thoughts are how can I pay as little as possible and stay out of trouble? Legally, ethically, pay the least amount of taxes possible. As judge Learned Hand said "It's every Americans duty to minimize their tax burden through legal means." Steve Moskowitz: I remember many moons ago studying that case in law school. And there's so much to that. And that's what we're all about in our firm. Where you say, "Okay how do we legally save taxes?" And what everybody should realize is that the tax laws are two purposes. Everybody knows one purpose. They know extracting taxes from us but the other purpose is a system of incentives. Because in a democracy, the government can't order us to do something. But how do they get us to do something they want us to do because it's good for the economy but they can't order us? They give us tax incentives. And tell us what are some of the tax incentives that motivate you to make an investment or do something differently? Kerry Lutz: Well, obviously when it comes to conventional investments, real estate really has no equal. And I look at that tax deductibility of interests and non-cash outlays like depreciation, bonus depreciation section 179, all of that. When I look at it I like real estate, I like assets that have cashflow that can be leveraged. Different types of assets because not only the tax advantage but they do well in inflationary times. Steve Moskowitz: Excellent. And we have a lot in common. I see we've graduated from the same law school. Kerry Lutz: Oh, hey, the best little law school on Worth street. We used to call it. Steve Moskowitz: Indeed. And we're talking about real estate. Just yesterday in The Wall Street Journal, I was quoted about the value of DSTs, Delaware Statutory Trust. And most people are familiar with 1031s but DSTs, Delaware Statutory Trust provides such an additional benefit for clients. How do you feel about 'em? Kerry Lutz: Well, very familiar with trusts. I have several of myself. The benefits of trusts. So many people really don't have a clue but that's how the super wealthy manage to hold onto their wealth and pass it on to success of generations without devastating taxes, asset protection, so many different benefits accrue to you. The ability to buy things in the trust and basically deduct all expenses that you wouldn't otherwise be able to, had you not owned an asset in the trust. Meaning, well, you're the expert Steve, but the list goes on and on and on. Steve Moskowitz: Well, one of the reasons you do it is for asset protection 'cause today in our society, a lot of people feel that if you have something it's unfair and the only way to make it fair is to take it away from you....

Steve and Cliff discuss the many tax benefits and incentives available for real estate investments. Listen to the full episode to learn more! Episode Transcript Intro: You're listening to the Practical Tax podcast with tax attorney Steve Moskowitz. The Practical Tax podcast is brought to you by Moskowitz LLP, a tax law firm. Steve Moskowitz: Welcome everyone. Thank you for joining our podcast. And we're looking forward to telling you a lot of tax savings in a very good area here, real estate. Traditional wealth has been built with real estate and there's all kinds of advantages to it. One of my favorites is OPM, other people's money. And there's all kinds of things here. For example, one of the things that Cliff is gonna tell you about, there's a government deal where the government will pay for 39% of the real property you choose to buy. You like that? I'll say it again. The government will pay 39% of the price and guess what? That's a gift. They just give it to you. It's not a loan. You don't have to pay it back. They just give it to you. And when somebody gives you something nice, what do you say? Well, most people say, thank you, but lawyers say more. I want more. Want to talk about all kinds of things like how you can make a real estate investment, a tremendous amount of money, profit and legally not pay any taxes on it. And this is the type of things that people look at and they say, look at the wealthy, look at the Fortune 500. They're making all this money, sometimes billions of dollars they'd be in profits and not paying any taxes legally, how can that be? And here's why. There's two purposes for the tax law. One we all know about is get money out of us, extracting taxes, but the other one is in democracy, the government can't order us to do things, even though it's good for the economy or it's good for society, they can't order us. So, how's the government get you to do something they want you to do, but they can't order you? They give you a tax benefit. And that's what this is all about. And you know, a lot of people just grumble and cry about, oh they take so much taxes out of my earnings. And that's true. But what we're gonna talk to you about today, although the wealthy people do it, you don't have to be wealthy. This applies to any socioeconomic group. You can be a regular normal middle class person, do all these things, and our goal is to get you to be those people that other people point to and say, look at that wealthy guy, look at all the money he's making and he's not paying any taxes on it. And maybe some of that's because you listen to us on this webinar. Without further ado, I'm gonna introduce my friend and colleague, the head of our tax department, who's also an accountant as well as being an attorney, Cliff . Cliff, you want to take it away? Cliff Capdevielle: Sure, Steve, thanks. So, lot of wealth in America has been generated with real estate. And as you say, Steve, one of the key differentiators is the ability to leverage, use other people's money, take out loans and put down a fraction of the cost of a piece of real estate and then reap the rewards as the value of that real estate increases. I'm up in Incline Village. It is now the average, Steve, the average price for a home up here and this zip code, can you guess? Steve Moskowitz: That's a toughie. Coming from San Francisco, shacks go for millions. Cliff Capdevielle: It's five million dollars is the average house. So, that is skewed because you have Larry Ellison and the other Silicon Valley billionaires up here with properties in the 50 hundred million dollar range. But you can make a lot of money in real estate just by holding it for a long period of time. And you can purchase real estate, as you said, using other people's money, leveraging that and deducting the interest that you pay for real estate. Now, it's recently been limited on personal residences, but on investment property,

Learn about options for dealing with tax debt and what happens when you can't pay your taxes. This episode focuses on businesses with tax problems. This week Steve is joined by his long-time colleague Chris Housh. Chris chairs the firm's tax resolution and business entity compliance practice groups and is the Vice President of the Golden Gate Society of Enrolled Agents. Listen to the full episode to learn more! Episode Transcript Intro: You're listening to the Practical Tax podcast with tax attorney Steve Moskowitz. The Practical Tax podcast is brought to you by Moskowitz LLP, a tax law firm. Steve Moskowitz: Welcome everyone. And thank you for tuning into our podcast. And this is part two of what happens when taxes can't be paid. Part one was for individuals. Part two is for businesses. And I'd like to introduce my friend and colleague, Chris Housh. Chris is both a tax attorney and EA, and Chris and I have worked together at the firm for over 20 years. He's the head of department that handles these type of cases, basically when a person or a business just can't pay their taxes. And in part one of this, we talked about what happens when an individual can't pay their taxes. Part two we're gonna talk about businesses and there is certainly some overlap between parts one and parts two. But in the business area, we're gonna go over some areas that we didn't go in individually because they don't apply to individuals. So, Chris, I have a question for you. What happens when somebody comes in and says, "I can't pay my payroll taxes?" What's the difference between payroll taxes and income taxes? Chris Housh: Payroll taxes is one of the special kinds of taxes that exist, sales taxes also in this boat. They're called trust fund taxes. And the government's explanation of it is that the person that you collected that tax from, trusted you to pay it over to the government. Your employee trusted you to go and take that tax that you with held out of their paycheck, to pay it to the government on their behalf. Your customer that you charge sales tax to trusted you to go and put that sales tax into the hands of the government. So with that, the government has that as one of the few things that can break out of a corporate or LLC shell and go against the individual alongside of the business. So the IRS on a payroll tax liability is going to ask to have an interview with the head of the company and any other responsible people that were in charge of making that decision, to be able to assess against the individual, a penalty to collect against that tax. Now they are only allowed to go and put to the individual, the amount of tax that was withheld from the people that are trusting. So your employee, they can only do to you the owner, the portion that was actually withheld from the paycheck, they can't go in and hold the businesses, share of FECA or the interest penalty assessed against the corporation. They can't do that against an individual. Now at the same time what they then do is ask to go and collect against the business and against the individual at the same time to pay into the same pot. Once the pot is full, they can't collect more than what's owed. So what often happens is at the business level, they have four pots for each year, that is getting paid by the business for payroll taxes. The employers share of FECA, the employee share of FECA, the employees federal tax withholding, and then the penalties and interest. At the business level you go and first pay the business' liability then the amount that was withheld from the employee's paychecks, and then the penalties. The business owner, if they're making a payment agreement at the same time, they're paying in solely into what was withheld out of the employees. So that that part gets filled up faster. And if you owe on multiple periods, they can start having that payment go down to period two, while the business is still paying period one.

Learn about options for dealing with tax debt and what happens when you can't pay your taxes. This episode focuses on individuals with tax problems. This week Steve is joined by his long-time colleague Chris Housh. Chris chairs the firm's tax resolution and business entity compliance practice groups and is the Vice President of the Golden Gate Society of Enrolled Agents. Listen to the full episode to learn more! Episode Transcript Intro: You're listening to the Practical Tax podcast with tax attorney Steve Moskowitz. The Practical Tax podcast is brought to you by Moskowitz LLP, a tax law firm. Steve Moskowitz: Hello everyone. Thank you for tuning into our podcast. We're really excited to talk to you about this. This is an area that affects so many people and a lot of people get embarrassed about it, or they don't want to talk about it, but it's a common problem and there's so much help. This is what happens when you can't pay your taxes. And we're going to do this in two parts. Part one in part two part one is going to be individuals. That's where we're going to start. I'd like to introduce my friend and colleague Chris Howes. Chris is an attorney. He's also an EA and Chris and I have worked together at the firm for over 20 years. Chris heads the department doing these cases, and he's done thousands and thousands of tens of thousands of these over the past couple of decades. Chris, tell us what happens when you can't pay your taxes. What do you do? Chris Housh Well, there's a variety of things that we can do, and that's one of the things I love doing for our clients is finding what's the right thing for them. I don't treat it as a cookie cutter situation. There's the ability to go and try and work with the government. Find the ways to go and figure out what is manageable, reasonable for your budget, and also look at different ways to try and relieve and reduce some of that liability as well. Using elements of timing, elements of what is the important expenses for you and what does the government allow you to do? I play with all that, figure out what the best thing for someone and try and get the best result for someone in those situations. Steve Moskowitz: Chris, there was a word in there that I think everybody want to jump on reduced. Tell us about how do we reduce our taxes? Chris Housh Well, first of all, we look and see is it actually the right real liability? Is it that the IRS created a false number for you when they didn't get your return? If that's a situation we get the tax return correctly in there reduce the amount that you owe. The other part is we look at whether or not financially, you have the ability to do an offer and compromise. We look at that, is there that financially, you're never going to be able to pay it in the time that the government it wants so therefore they should accept the lesser amount. Sometimes though, that dollar amount that the government wants to not offer and compromise is too high, but I can use something called statute limitations, how long the government is illegal allowed to collect might make it where making monthly payments over the time they are allowed to collect might make it where you be paid even less than you would've done in the offer and compromise. Then also after you've either entered into the install pay agreement or have a base tax paid the original tax from return paid, we can also look at penalty abatement to go and say to the government, let's remove the penalties due to the events that were outside of your control in the year that the tax return was originally due. From that go and have them reduce out that penalty and also the interest related to penalty, but that part is if you have to go that route, that's the last piece in the puzzle because the government's not going to let me go and get rid of the penalty for not paying until you actually start paying. One of the things that a lot of the clients look at is going, oh,

Steve Moskowitz and managing attorney, Cliff Capdevielle discuss Cryptocurrency and U.S. Taxation as of Spring 2022. Discussion of taxable events, reporting requirements and federal policy updates. Listen to the full episode to learn more! Episode Transcript Intro: You're listening to the Practical Tax podcast with tax attorney Steve Moskowitz. The Practical Tax podcast is brought to you by Moskowitz LLP, a tax law firm. Steve Moskowitz: Hello everyone. And welcome to our presentation. Thank you for being here. And today we're gonna be talking about crypto and there's so much happening in crypto. There's even a country, that's now recognized that, as their national currency. And a lot of people are making money, or losing money in crypto. And one of the things that the IRS is doing is something called operation hidden treasure. Now that's sounds like something from an action invention movie, but the IRS has the belief that a lot of people are engaging in crypto, and forgetting to report their transactions or reporting them improperly. Another thing is there's different softwares, that report crypto. And different softwares come up with different answers. That's why in our firm, we're using the same software, that the IRS uses. We'll also talk to you about accounting methods for all these transactions, which is very important, and also determines how you figure something is a profit or a loss. And again, crypto is an area that's just burgeoning more and more people are getting involved in it. And a lot of people are making good solid earnings. But watch out, we don't wanna trip up on any tax problems. And that's where we come in. Now there's so much involved here, and I'd like to introduce my friend and colleague the head of our tax department, tax attorney and accountant, Cliff Capdevielle. And also, just so you'll know Cliff nickname is in the firm is crypto, and Cliff even gave me crypto cuff links. So the bottom line is, Cliff, take it away for us. Cliff Capdevielle: Thanks, Steve. So the big news this week , of course is Biden's executive order March 9th on digital assets. And, he has announced that we are as a country going to explore the idea of a U.S central bank, digital currency. What does that mean? Well, this is an attempt to create the benefits of digital assets like Bitcoin and Ethereum and the other digital assets. With the protection of the us federal government. So that is the goal. That is not the reality of course. And importantly, in addition to that, Biden has announced that the U.S federal government will make an attempt to protect consumers, investors and businesses from the rampant fraud associated with digital assets. And of course, part of this is to create additional security not just for individuals, not just for investors, but for the U.S government, and the United States leadership in this area, of course is important. And the Biden administration recognize the importance of digital assets. And this is an attempt an announcement that the Biden administration is going to make efforts to promote access and to promote security with regard to these digital assets. So that's the big news, obviously. Steve Moskowitz: And along with that, a lot of people trade in crypto and they think, oh, that's a secret. And the government doesn't know what they're doing. In reality, the opposite is the case. There's such good record keeping that the government has access to all this information. Cliff, you wanna explain that to us please? Cliff Capdevielle: Yeah. So as part of the government's attempt to regulate, and control the reporting of digital assets, there is starting next year, a requirement that the exchanges are going to have to track and report sales of digital assets essentially on 10 99. So they'll be reported in the way that the brokerage firms, the banks, are all required to do which is to report sales, and to track basis, to the extent possible.

In this week's episode of the Practical Tax Podcast, Steve and Cliff discuss how business owners can optimize their yearly profits by implementing Moskowitz LLP's year-round tax planning strategies. Learn how you as a taxpayer can avoid 'March Madness' and no, we don't mean the basketball tournament. Listen to the full episode to learn more! Episode Transcript Intro: You're listening to the Practical Tax podcast with tax attorney Steve Moskowitz. The Practical Tax podcast is brought to you by Moskowitz LLP, a tax law firm. Steve Moskowitz: Welcome to everyone, and we're so happy to have you join us. We're going to be talking about subscription services today. And what's really important here, over the years there's so many people that have said, "Wow, you really did a great job on that. Whether it was legal advice, tax advice, tax return, getting somebody out of a tax problem. I sure wish I could go ahead and see you on a regular basis." And the answer is, why of course you can. And before I was a tax attorney, I was a CPA. And in our firm, we have both tax attorneys and accountants, and we do a lot of maintenance work. That's advising, accounting. And what we've done is we go ahead and we offer this as part of our subscription services package, where we've taken the needs of various individuals and businesses, put together a package that covers everything. We have different departments in the firm, and the different departments work on your case. And then we talk to each other, and then we go ahead and coordinate it. So it's not just, well, your estate plan is really strong, but there's a problem here or a problem there. We go ahead and we talk about everything, whether it's financial planning, estate planning, tax planning, your accounting work. Another thing that we do, and I've always said my whole career, that the tax return, and that's what all the people focus on. The tax return, the tax return. The tax return should merely be the summarization of a year's worth of planning. And so many people don't realize that, but that planning is so vitally important, and that's why you see in the newspaper all the time where the Fortune 500 make billions with a billion profits, and don't pay any taxes, because they do spend their entire year of planning. And that's what we want to offer to much smaller businesses and individuals. And we'd like to go into the details, and now I'm going to turn the floor over to my friend and colleague, Cliff Capdevielle, who is the head of this, and is going to explain it. Cliff, take it away. Cliff Capdevielle: Thanks, Steve. So as you said, what we're offering is business advisory services, which big companies have had access to forever, right? If you're a Fortune 500 company, you can hire McKinsey, or Bain, or Boston Consulting Group, and they'll come out with a group of four or five team members. You'll put them up at the Ritz Carlton for a couple of weeks, and they will spend that time analyzing your business, and come back with some recommendations. Only a couple problems with that. For small, medium sized businesses, the typical consulting fee, minimum consulting fee from McKinsey and Company is about a $1,000,000. For most companies, and most of our clients who are in the $25,000,000 or less gross receipts category, they just can't afford that fee. So what do you do? How do you get access to regular meetings with experienced experts, tax and legal experts, who can give you the kind of advice you need? And that's what we're offering, Steve, to these small and medium sized businesses who need regular consulting help, business advisory services. We're going to talk in detail about what that means. And the advantage of working with a firm like Moskowitz, of course, is that we've got broad experience from a diverse number of industries. We work with construction, real estate companies. We work with restaurants and other hospitality businesses,

In this week's episode of the Practical Tax Podcast, Steve Moskowitz sits down to discuss Pension Planning with Stephen Dobrow; the President of Primark Benefits. Steve Moskowitz and Stephen Dobrow have served clients of Moskowitz LLP for many years, as part of the Moskowitz tax planning and business services practices. Today, we will discuss why would a business owner, decision maker want to consider retirement plan, changes in law or procedures this year, key deadlines and some common questions. Listen to the full episode to learn more! Episode Transcript Intro: You're listening to the Practical Tax podcast with tax attorney Steve Moskowitz. The Practical Tax podcast is brought to you by Moskowitz LLP, a tax law firm. Liz Prehn Hello, welcome to Practical Tax. Today, we are discussing retirement plans with Steven Moskowitz and Stephen Dobrow. Stephen Dobrow is the President of Primark Benefits. A firm that provides pension consulting, plan administration, actuarial services and record keeping. As a retirement plan expert, Stephen regularly meets with Congress, the Treasury Department, the Department of Labor to advise and serve private retire systems. Steve Moskowitz and Stephen Dobrow have served clients of Moskowitz LLP for many years, as part of the Moskowitz tax planning and business services practices. Today, we will discuss why would a business owner, decision maker want to consider retirement plan, changes in law or procedures this year, key deadlines and some common questions. Steve Moskowitz: Welcome to all. Thank you for joining us. And Stephen, we've worked together so many years and here is a common question I hear all the time. You know what? I'm paying too much in taxes, I know there's some secret. I see all these big companies making way more than I do and not paying taxes. What's the secret? And the first thing I start off with is the big four in pensions. And the big fo- I'm gonna ask you to talk about the details in all of them. And the big four are saving taxes, not having to pay taxes on the income until you take it out of the plan. Cash flow, where unlike everything else, almost everything else we have to write the check by December 31st of year two. Here, there's a way to write the check in year two and still deduct it from year one. And asset protection, where if something bad happens to you, like you get sued, the plaintiff can't take away your pension. Although I hate to mention his name, the perfect example for this is OJ Simpson. So let's begin and Stephen, tell us about the pensions and all about the big four. Stephen Dobrow: Well, thank you. Primark Benefits has been doing retirement plans for now, 50 years here in the Bay Area, San Francisco Bay Area. And we have 34 employees, about 700 clients at any given time. What we do is take the retirement tax dollars you would normally send to the government and find a way to put it in the retirement plan just like what Steve was saying. You've heard of a 401k plan, you've heard of an IRA. Those are actually just two of 24 different types of retirement plans that a planned sponsor and employer can put in. And so the really secret is, and part of the answer to this question is, well, there's lots of choices and there's lots of ways that we can help and why would people want to get our help? Well, first of all, this is a lot about recruitment and retention. It's an employee benefit, you wanna take good care of your employees and you wanna be able to keep them, you wanna be able to get them. And Steve, you'll remember that just recently, I caterer came to us and he said, "You know, I'm having trouble attracting people to work at my catering business. And I really wanna have something that gets them to here, you know?" The catering business never offers benefits. If I offered benefits, that would be an attractive feature. And so we talked to him and he decided to set up a program where if people put in their money,

In this episode of Practical Tax, tax attorneys Steve Moskowitz and Cliff Capdevielle discuss the benefits of choosing a Limited Liability Company (LLC) as your business entity. Listen to the full episode today! Episode Transcript Intro: You're listening to the Practical Tax podcast with tax attorney Steve Moskowitz. The Practical Tax podcast is brought to you by Moskowitz LLP, a tax law firm. Steve Moskowitz: Hello, and welcome to everyone to our podcast about practical tax. And today we're gonna be talking about LLCs and all the benefits they have for you, we're gonna be talking about asset protection, because unfortunately in our society, a lot of people that don't have what you have wanna take it away from you in a lawsuit. We don't want that to happen, and we're gonna explain how you protect against that. And also we're gonna ask you the tough question; if you have the legal choice to pay taxes on either 80% of your profit or 100%, which would you choose? And all kinds of other benefits. On that happy note, I wanna to turn it over to my friend and colleague, the head of our tax department, tax attorney and accountant, Cliff Capdevielle. Cliff, take it away. Cliff Capdevielle: Thanks Steve. One of the first questions we get from new clients and often from existing clients is, "What's the best entity structure for me?" And it seems like a simple question but there's a lot to it. So, should you be a partnership, an LLC an S-corp or a C-corp? Oftentimes clients come in and they're operating as a sole proprietorship. Sole proprietorship is simple and easy but it's fraught with a lot of problems. The sole proprietorship is essentially you doing business in your own name, or as a DBA. And while it's simple, it doesn't add much in terms of asset protection. So, if you have a claim by a creditor, a vendor, anyone, your personal assets are exposed and that's why we- Steve Moskowitz: I have a question about that. Suppose you have a woman and has a business and she's in sole proprietor and her husband is a house husband, does that mean if the plaintiff would actually win, they can take assets away from her husband. Cliff Capdevielle: That's right, they can take the assets that are unrelated to the business. And that can be assets that have been in the family for years, totally unrelated to the business at all. Steve Moskowitz: That is not gonna make a happy marriage. Cliff Capdevielle: Not at all. So, we almost always recommend that an operating business choose a pass-through entity structure of some kind, an S-corp or an LLC. We occasionally will recommend a C-corp structure if the client is intending to raise money from professional investors, because the C-corp has the advantage of allowing different types of shares preferred in common. Steve Moskowitz: Cliff, I have a question about that. Cliff Capdevielle: Yeah. Steve Moskowitz: Suppose somebody chooses a C-corp, 'cause you see, their plan is to work the business for a while and then sell it, will there be any advantages to selling the shares of a C-corp? Cliff Capdevielle: Sure, it depends on what type of entity is, but the tax code does provide substantial tax benefits for startups, we see this all the time, Section 1202. Stock allows startups to sell up to $10 million, in some cases tax free and that's a huge tax- Steve Moskowitz: Wait a minute, $10 million dollars tax free? I bet that got our list of attention. Folks, how would you like to sell $10 million tax rate? And that's one of the reasons I became a tax lawyer. Look at the Fortune 500. They make billions of dollars in taxes, excuse me, they make billions of dollars in profits, and some of 'em legally don't pay a penny in taxes. How is that possible? 'Cause they have an army of people like Cliff and Liz and our colleagues and me, saying, "Hey, do this and do that." And that could make such a difference in your life. Imagine that.

In this week's episode, Steve and Cliff discuss the benefits of choosing an S Corporation as your business entity. S Corporations provide a myriad of benefits as a business entity, but there are some formalities that must be maintained. Learn more about S Corporations in this episode. Episode Transcript Intro: You're listening to the Practical Tax podcast with tax attorney Steve Moskowitz. The Practical Tax podcast is brought to you by Moskowitz LLP, a tax law firm. Steve Moskowitz: Welcome to our podcast, and today we're going to be talking about business entities, corporations, certain types of corporations, like S-corporations, partnerships, LLCs. And, I'd like to introduce my friend and colleague the manager of our tax department at Moscowitz LLP, Cliff Capdevielle. Cliff is both the tax attorney with many years experience, and also an accountant. Cliff, tell us about these different business entities. Cliff Capdevielle: Sure, Steve, so one of the first questions that we need to answer for any new client, and oftentimes for returning clients, is what's the best way to structure your business? Is that gonna be as a sole proprietorship, a C-corp, an S-corp, or a partnership structure, like an LLC or limited partnership? And there are different answers depending on the type of business. So, the simplest form of structure is what's called a sole proprietorship, and that's when you're essentially doing business in your own name or as a DBA. It's the easiest business structure to set up, but it's not a separate legal entity. And for that reason, we usually don't recommend it. As you know Steve, a lot of what we do is asset protection. We want to, we wanna the business owners assets and the sole proprietorship does not separate personal assets from the business assets. And as a result, we usually don't recommend the S-corporation or sorry, the sole proprietorship. Instead, we usually recommend an S-corporation or an LLC, depending on the type of business. Steve Moskowitz: Somebody has a sole proprietorship and something goes wrong in the business, they could sue and take away the person's personal assets. Cliff Capdevielle: That's the problem with it, Steve. And I know you've seen this in your practice, comes up all the time, and we've also seen businesses survive and owners keep substantial assets, if they've properly separated their assets from the business assets. Steve Moskowitz: You know, you told us about different forms of assets and corporations is one of them, but sometimes a business owner and say, "But Cliff, you know if I form a corporation, it's great for asset protection." which I'll ask you to explain to us. But people say, "Well, wait a minute, I don't wanna be paying taxes twice." First, the corporate taxes and then the personal taxes. How do we handle that? Cliff Capdevielle: Yeah, so today we're gonna talk about S-corporations. And S-corporations are considered pass-through entities for tax purposes. So, what does that mean? That means that there's no tax, typically at the corporate level. The tax attributes pass to the individual owners. So, you're only paying tax at one level with an S-corporation, or an LLC. Just like you would with a sole proprietorship. But the advantage, the huge advantage of the pass-through entity is that asset protection that we mentioned. Steve Moskowitz: So, does that mean that if the business gets in trouble that the assets of the owner are safe? Cliff Capdevielle: If they run the business properly, and they mind their Ps and Qs, they can potentially protect their personal assets from the assets of the business. Steve Moskowitz: And Cliff, what happens if the business makes a loss? Cliff Capdevielle: Well, in that case, in many instances the business can pass through those losses to the individual owner, who can deduct those losses against other income. Steve Moskowitz: So, if the owner made a loss and his or her spouse had...

On this episode of the Passive Income Attorney Podcast, Seth is joined by tax attorney Steve Moskowitz as they talk about how creating more wealth will actually allow you to pay less taxes. Inside this episode, you'll learn how to bulletproof your taxes so you'll no longer fear the IRS or an audit. Steve will show you why having a great accountant on your team might not be enough - you need a great tax attorney. You'll learn how to take advantage of every dollar that you deserve to keep, but nothing that you don't. Steve is a tax attorney with over 30 years of experience and the founder of the tax law firm, Moskowitz LLP. Enjoy the episode!   “Most people cheat on their taxes. . .they cheat themselves.”   HIGHLIGHTS: Here's a breakdown of what to expect in this episode: A CPA who stumbled upon law school Why you need more than just a great accountant on your team Why are you cheating on your taxes? Four big benefits of having a pension Taking everything you deserve, but nothing that you don't Should you fear the IRS? How to sleep easy during an audit What actually happens when you get audited by the IRS And so much more!   ABOUT | STEVE MOSKOWITZ: As a tax attorney for more than 30 years, Steve knows that clients' lives – and livelihoods – can be upended or even destroyed when tax trouble arises. With extensive knowledge of tax law, a desire for swift and vigorous defense, and decades of experience with tax authorities and in the courts, he is unusually perceptive in assessing the best way forward and the right resources to achieve resolution. Steve started Moskowitz LLP because he saw that while big corporations were consistently navigating the tax code to their advantage, smaller businesses and individuals were not. With prior experience as a CPA at a national accounting firm and extensive experience in the corporate world, Steve knew he could help smaller businesses and individuals by applying what he knew. He wanted to make a critical difference in businesses and individual lives that protected them from the powerful government and enabled them to keep and enjoy the fruits of a lifetime of work that otherwise could be taken away from clients by the government in just one action. Today – together with a full team of tax attorneys, CPAs, enrolled agents, and other professional staff – Moskowitz LLP helps business and individual clients across the country and overseas to resolve a wide variety of tax matters. The Moskowitz LLP team also creates strategies to utilize the tax code and relevant treaties to clients' benefit and provides ongoing tax support and tax return preparation. Unlike most firms, Moskowitz LLP clients pay a flat fee and are not subject to hourly rates.   FIND | STEVE MOSKOWITZ: Website: https://moskowitzllp.com/   CONNECT | SETH BRADLEY: Get Started | Download The Freedom Blueprint: http://www.attorneybydesign.com Subscribe and Leave a Rating and Review: Apple: https://podcasts.apple.com/us/podcast/the-passive-income-attorney-podcast/id1543049208 Spotify: https://open.spotify.com/show/5a0Qp9G2x337nZCDWoVgoO?si=MKn01_t8Tfu0JBZCnagrCw Join EPIC | The Esquire Passive Investor Club: https://passiveincomeattorney.com/join-the-passive-income/ Join | The Passive Income Attorneys Facebook Group: https://www.facebook.com/groups/passiveincomeattorneys Follow Us: Website:  https://passiveincomeattorney.com/ LinkedIn: https://www.linkedin.com/in/sethpaulbradley/ Facebook: https://www.facebook.com/passiveincomeattorney Instagram: https://www.instagram.com/passiveincomeattorney/

In this episode of Practical Tax, tax attorneys Steve Moskowitz and Cliff Capdevielle discuss the recent passing of Senate Bill 113 (SB113) in California and how it can affect your annual tax payments. Listen to the full episode to learn more! Episode Transcript Intro: You're listening to the Practical Tax podcast with tax attorney Steve Moskowitz. The Practical Tax podcast is brought to you by Moskowitz LLP, a tax law firm. Steve Moskowitz: Welcome, everyone. We have good news followed by some more good news. July 16th, 2021, California passed AB150 that is going to save you some federal taxes on the state taxes that you pay. And just this month, it was modified in SB113 to make it even better. So here's the deal. When the Tax Cuts and Jobs Act came along, it took away our ability to deduct state income taxes on our federal return in excess of $10,000. And that really hurt in high-tax states like California. So what California did, and this was just been approved by the IRS, so you don't have to worry there's going to be a conflict there, that you can make an election. And again, it's not for everybody, but for those it'll benefit, and there's going to be significant benefits here, you can make an election to pay your state taxes at the entity level, like an S Corp, LLC, that would normally just pass these things through. At the entity level, you reduce the amount of your profit on the K-1 and therefore pay less federal taxes. So effectively, it's almost like going back to when you could deduct the state taxes on the federal return. Again, the reason for this is doing it this way, it's going to reduce the profit of the entity on the K-1, so the amount that's going to be on your federal tax return from your entity is going to be less the state taxes. You pay less federal taxes. And again, the IRS has approved this. Cliff, you want to tell us some more about this? Cliff Capdevielle: Yeah, so this is big news for owners of S Corporations and LLCs and partnerships. The new law allows you to make an election and compute your entity level tax. For California, it's 9.3% and a flat rate. And that will pass through to the individual owners on their K-1s. And obviously this gets around that 2017 law which limited the state tax deduction to $10,000. Steve Moskowitz: Thank you, California. Outro: You've been listening to the Practical Tax podcast with tax attorney Steve Moskowitz. To hear more podcasts, go to moskowitzllp.com/practical-tax The information contained in this podcast is based on information available as obtained at the date of its release. Moskowitz LLP and its affiliates are under no obligation to update this information as changes occur. Applying this information to your specific situation requires careful consideration of all factors which may be applicable. And any information is not to be considered tax advice or legal advice. Further, this is attorney advertising, and the facts and circumstances displayed in this case are dependent entirely on the facts of that particular case. Please consult your tax advisor before acting on any matters discussed.

On this episode of the Passive Income Attorney Podcast, Seth is joined by tax attorney Steve Moskowitz as they talk about how creating more wealth will actually allow you to pay less taxes. Inside this episode, you'll learn how to bulletproof your taxes so you'll no longer fear the IRS or an audit. Steve will show you why having a great accountant on your team might not be enough - you need a great tax attorney. You'll learn how to take advantage of every dollar that you deserve to keep, but nothing that you don't. Steve is a tax attorney with over 30 years of experience and the founder of the tax law firm, Moskowitz LLP. Enjoy the episode!   “Most people cheat on their taxes. . .they cheat themselves.”   HIGHLIGHTS: Here's a breakdown of what to expect in this episode: A CPA who stumbled upon law school Why you need more than just a great accountant on your team Why are you cheating on your taxes? Four big benefits of having a pension Taking everything you deserve, but nothing that you don't Should you fear the IRS? How to sleep easy during an audit What actually happens when you get audited by the IRS And so much more!   ABOUT | STEVE MOSKOWITZ: As a tax attorney for more than 30 years, Steve knows that clients' lives – and livelihoods – can be upended or even destroyed when tax trouble arises. With extensive knowledge of tax law, a desire for swift and vigorous defense, and decades of experience with tax authorities and in the courts, he is unusually perceptive in assessing the best way forward and the right resources to achieve resolution. Steve started Moskowitz LLP because he saw that while big corporations were consistently navigating the tax code to their advantage, smaller businesses and individuals were not. With prior experience as a CPA at a national accounting firm and extensive experience in the corporate world, Steve knew he could help smaller businesses and individuals by applying what he knew. He wanted to make a critical difference in businesses and individual lives that protected them from the powerful government and enabled them to keep and enjoy the fruits of a lifetime of work that otherwise could be taken away from clients by the government in just one action. Today – together with a full team of tax attorneys, CPAs, enrolled agents, and other professional staff – Moskowitz LLP helps business and individual clients across the country and overseas to resolve a wide variety of tax matters. The Moskowitz LLP team also creates strategies to utilize the tax code and relevant treaties to clients' benefit and provides ongoing tax support and tax return preparation. Unlike most firms, Moskowitz LLP clients pay a flat fee and are not subject to hourly rates.   FIND | STEVE MOSKOWITZ: Website: https://moskowitzllp.com/   CONNECT | SETH BRADLEY: Get Started | Download The Freedom Blueprint: http://www.attorneybydesign.com Subscribe and Leave a Rating and Review: Apple: https://podcasts.apple.com/us/podcast/the-passive-income-attorney-podcast/id1543049208 Spotify: https://open.spotify.com/show/5a0Qp9G2x337nZCDWoVgoO?si=MKn01_t8Tfu0JBZCnagrCw Join EPIC | The Esquire Passive Investor Club: https://passiveincomeattorney.com/join-the-passive-income/ Join | The Passive Income Attorneys Facebook Group: https://www.facebook.com/groups/passiveincomeattorneys Follow Us: Website:  https://passiveincomeattorney.com/ LinkedIn: https://www.linkedin.com/in/sethpaulbradley/ Facebook: https://www.facebook.com/passiveincomeattorney Instagram: https://www.instagram.com/passiveincomeattorney/

In this episode of Practical Tax, tax attorneys Steve Moskowitz and Cliff Capdeville discuss the many ways to file for, and claim the Employee Retention Tax Credit for your business. In many cases, business owners feel like they won't qualify for a litany of reasons, but they are often misinformed. Steve and Cliff are here to shed some light on the details of the Credit, and how Moskowitz LLP can help you file and claim. Listen to the podcast and learn more! Episode Transcript Intro: You're listening to the Practical Tax podcast with tax attorney Steve Moskowitz. The Practical Tax podcast is brought to you by Moskowitz LLP, a tax law firm. Steve Moskowitz: Hello, and welcome back to the Practical Tax Podcast. I'm your host Steve Moskowitz, Senior Partner at Moskowitz LLP. Today, I'm joined by the Managing Attorney of Moskowitz LLP, Cliff Capdevielle. Our topic today is why so many business owners have completely failed to take advantage of the billions of dollars the government's made available to business owners with the Employee Retention Credit, ERC. And how you can get your share of this massive of government giveaway before it's too late. But before we jump in, a little bit about Cliff. Like I said, he's the Managing Attorney at Moskowitz LLP, a leading law firm, laser focused on tax planning and tax controversies. A tax attorney with more than 25 years experience helping business owners and investors save money on their taxes. He hails from the California Bay Area, Go Bears! And now leads our entire remote team around the world. Cliff, welcome to the show. Let's first define the Employee Retention Credit or ERC. Cliff Capdevielle: Steve, the Employee Retention Tax Credit is a refundable credit, for employers who are keeping their staff during the pandemic. This is a credit that's available to all employers including employers who took advantage of the Paycheck Protection Program, the PPP. And, today I hope we can straighten out some common misconceptions and help all of those businesses that have yet to take advantage of this credit, to do so. Thanks for having me, Steve. Steve Moskowitz: It's a pleasure. Cliff, can you tell us the difference between a refundable credit and a non-refundable credit? Cliff Capdevielle: Sure, very easy. Refundable credit is money in your pocket. So with the Employee Retention Tax Credit, businesses are receiving a refund check in the mail just like you do with your income tax refund. You can cash it, you can spend it however you want. If you wanna increase staff, if you wanna buy equipment, if you want to go on a vacation. Like I hear, you're on your way to a vacation next week. Steve Moskowitz: A working vacation Cliff 'cause I'm always there for our clients. Cliff Capdevielle: Absolutely Steve Moskowitz: So Cliff, tell me, this ERC, is this something that we'd ever have to pay back? Cliff Capdevielle: You don't have to pay it back. It's not a loan. It is a refund, just like your tax refund. You can keep it and spend it, and never worry about paying it back. And you don't have to use that money in any particular way. You don't have to use it on payrolls or any other particular purpose. Steve Moskowitz: Do I have to do something to ask forgiveness like I did with PPP? Cliff Capdevielle: You don't, this is a credit just for keeping your staff on payroll during this pandemic. And it's in addition to the PPP. So a lot of people call us every day, they're worried they're not gonna qualify for the Employee Retention Tax Credit because they already took PPP money. That's not true. You can get both. Steve Moskowitz: Is that a change in law, Cliff? Does it used to be that you couldn't get both? Cliff Capdevielle: It is exactly, well, now 2020, you could not in some months get both PPP loan and the Employee Retention Tax Credit. Starting in the fourth quarter of 2020, the law changed and now eligible employers are allowed to get both the ...

In this second episode of this two-part episode, Phil continues his conversation with Steve Moskowitz, Senior Partner at Moskowitz LLP. With filing season coming up for the 2021 tax year, Steve talks about the changes to expect when filing individual returns. He also talks about why he pursued accounting.

In the first part of this two-part episode, Phil speaks with Steve Moskowitz, Senior Partner at Moskowitz LLP. Steve shares why he became a tax attorney and how he helps his clients save on their taxes. He also discusses the importance of tax planning when it's a good time to start.

Steve Moskowitz knows that clients' lives – and livelihoods – can be upended or even destroyed when tax trouble arises. As a tax attorney for more than 30 years, Steve has made it is his personal mission to help business owners and individual clients successfully resolve tax issues and go on with their lives. With extensive knowledge of tax law, a desire for swift and vigorous defense, and decades of experience with tax authorities and in the courts, he has unusually perceptive judgment in assessing the best way forward, and the right resources to achieve resolution. Steve started Moskowitz LLP because he saw that while big corporations were consistently navigating the tax code to their advantage, smaller businesses and individuals were not. With prior experience as a CPA at a national accounting firm, and with extensive experience in the corporate world, Steve knew he could help smaller businesses and individuals by applying what he knew, and wanted to make the critical difference in businesses and individual lives that protected them from the powerful government and enabled them to keep and enjoy the fruits of a lifetime of work that otherwise could be taken away from clients by the government in just one action. Today – together with a full team of tax attorneys, CPAs, enrolled agents and other professional staff – Moskowitz LLP helps business and individual clients across the country and overseas to resolve a wide variety of tax matters. The Moskowitz LLP team also creates strategies to utilize the tax code and relevant treaties to clients' benefit, and provides ongoing tax support and tax return preparation. Steve understands that clients need high quality representation but do not have unlimited budgets, and that cost predictability is important. Unlike most firms, Moskowitz LLP clients pay a flat fee and are not subject to hourly rates. FFS Podcast Promotional Links:  ONLY $397: Dental Membership Master Course with Dr. Chris Phelps www.membershipmastercourse.com Dental Membership Direct www.dentalmembershipdirect.com Dental Financing Direct www.dentalfinancingdirect.com   About Dr. Sonny Spera Dr. Sonny Spera graduated from Union Endicott High School in 1981. With a four-year basketball scholarship he graduated from Syracuse University in 1985; majoring in Chemistry and Psychology. He was a member of the Sigma Alpha Mu fraternity. He was also the co-captain of the 1984-1985 Syracuse basketball team. Dr. Spera graduated from SUNY Buffalo Dental School in 1989 in the top 10% of his class. At SUNY Buffalo Dental School he was a member of the Omicron Kappa Upsilon Honorary Society. He was also UB Graduate Assistant Basketball coach.  Dr. Spera has been in private practice since 1989 and is a member of the American Dental Association, the New York State Dental Association, the Sixth District Dental Society and the Broome County Dental Society. He is also a member of the International Association of Orthodontics, the BC Dental Society and the BCDS Study Club. Away from the office, he volunteers with several community organizations, including the Elks Club, the Son's of Italy, the STNY Flyers, the Academy of General Dentistry, and the Basketball Coaches Association of New York. He is the founder and president of ME Hoops Inc. Dr. Spera currently resides with his wife Angela, whom he met at Syracuse University, and their three children, Marcus, Erica, and Carla. In his spare time, he enjoys spending time with his family, basketball, golf, music and movies. 607-624-2962 (Cell) Sonnyspera@gmail.com Www.progressivedentalny.com   Do you have a FFS practice? Would you like to be interviewed? Fill out the FFS Stories request form here: https://goo.gl/forms/7TaUF9Nqi49l1RFF2

Do we really understand the purpose of the US tax code?  Often our clients are frustrated with the laws and how it affects them individually. Can you explain to them why it is and how they can legally minimize their tax liability?  Steve & Roger have an informative and fun discussion about starting a tax career, the struggles opening a tax business and the successes that followed.  This is a journey you need to hear. Listen for how you can also become a professional and accessible as a tax preparer, it's what our clients need.   Your Host: Roger Knecht, president of Universal Accounting Center Our Guest: Stephen M. Moskowitz Steve Moskowitz knows that clients' lives – and livelihoods – can be upended or even destroyed when tax trouble arises. As a tax attorney for more than 30 years, Steve has made it is his personal mission to help business owners and individual clients successfully resolve tax issues and go on with their lives. With extensive knowledge of tax law, a desire for swift and vigorous defense, and decades of experience with tax authorities and in the courts, he has an unusually perceptive judgment in assessing the best way forward, and the right resources to achieve resolution. Steve started Moskowitz LLP because he saw that while big corporations were consistently navigating the tax code to their advantage, smaller businesses and individuals were not. With prior experience as a CPA at a national accounting firm, and with extensive experience in the corporate world, Steve knew he could help smaller businesses and individuals by applying what he knew, and wanted to make the critical difference in businesses and individual lives that protected them from the powerful government and enabled them to keep and enjoy the fruits of a lifetime of work that otherwise could be taken away from clients by the government in just one action. Today – together with a full team of tax attorneys, CPAs, enrolled agents and other professional staff – Moskowitz LLP helps business and individual clients across the country and overseas to resolve a wide variety of tax matters. The Moskowitz LLP team also creates strategies to utilize the tax code and relevant treaties to clients' benefit, and provides ongoing tax support and tax return preparation. Steve understands that clients need high quality representation but do not have unlimited budgets, and that cost predictability is important. Unlike most firms, their clients pay a flat fee and are not subject to hourly rates. Sponsors: Universal Accounting Center Helping accounting professionals confidently and competently offer quality accounting services to get paid what they are worth.   Offers:   Reach out to Steve directly with any questions you may have.  He's offered to help Accounting professionals with your legal questions:  steve@moskowitzllp.com OR call 888-tax-deal   It's also time to become a certified Professional Tax Preparer, PTP.  Get the training and certification to show you are proficient in tax planning and preparation for both individual and business returns.  Also gain the confidence to start and build your business offering quality tax services.  Realize this, you can be in business for yourself but not by yourself with Universal.   For Additional FREE Resources for accounting professionals check out this collection HERE!   Remember this, Accounting Success IS Universal. Listen to our next episode and be sure to subscribe.   For more information on how you can apply these principles in your business please visit us at www.universalaccountingschool.com or call us at 801.265.3777

There are a lot of things about taxes that people don't know exist. Most of the time, they go to their financial advisers who tell them things that do not match what they want. That's why Steve Moskowitz decided to become a tax attorney after working many years as a CPA. He wanted to be able to give his clients a lot of options to choose from.Steve formed a team of tax attorneys, CPAs, enrolled agents, and other professional staff and called it Moskowitz LLP. They help business and individual clients across the country and overseas to resolve a wide variety of tax matters. For our #TechandTacticsTuesday, Steve talks about the tax changes that will happen soon and the ways we can use the tax law to our own advantage. Tune in to know more!

About Steve Moskowitz Tax Attorney Steve Moskowitz knows that clients' lives – and livelihoods – can be upended or even destroyed when tax trouble arises. As a tax attorney for more than 30 years, Steve has made it his personal mission to help business owners and individual clients successfully resolve tax issues and go on with their lives. With extensive knowledge of tax law, a desire for swift and vigorous defense, and decades of experience with tax authorities and in the courts, he has unusually perceptive judgment in assessing the best way forward, and the right resources to achieve resolution. Steve started Moskowitz LLP because he saw that while big corporations were consistently navigating the tax code to their advantage, smaller businesses and individuals were not. With prior experience as a CPA at a national accounting firm, and with extensive experience in the corporate world, Steve knew he could help smaller businesses and individuals by applying what he knew, and wanted to make the critical difference in businesses and individual lives that protected them from the powerful government and en- abled them to keep and enjoy the fruits of a lifetime of work that otherwise could be taken away from clients by the government in just one action. Today – together with a full team of tax attorneys, CPAs, enrolled agents and other professional staff – Moskowitz LLP helps business and individual clients across the country and overseas to resolve a wide variety of tax matters. The Moskowitz LLP team also creates strategies to utilize the tax code and relevant treaties to clients' benefit, and provides ongoing tax support and tax return preparation. FFS Podcast Promotional Links:  ONLY $397: Dental Membership Master Course with Dr. Chris Phelps www.membershipmastercourse.com Dental Membership Direct www.dentalmembershipdirect.com Dental Financing Direct www.dentalfinancingdirect.com   About Dr. Sonny Spera Dr. Sonny Spera graduated from Union Endicott High School in 1981. With a four-year basketball scholarship he graduated from Syracuse University in 1985; majoring in Chemistry and Psychology. He was a member of the Sigma Alpha Mu fraternity. He was also the co-captain of the 1984-1985 Syracuse basketball team. Dr. Spera graduated from SUNY Buffalo Dental School in 1989 in the top 10% of his class. At SUNY Buffalo Dental School he was a member of the Omicron Kappa Upsilon Honorary Society. He was also UB Graduate Assistant Basketball coach.  Dr. Spera has been in private practice since 1989 and is a member of the American Dental Association, the New York State Dental Association, the Sixth District Dental Society and the Broome County Dental Society. He is also a member of the International Association of Orthodontics, the BC Dental Society and the BCDS Study Club. Away from the office, he volunteers with several community organizations, including the Elks Club, the Son's of Italy, the STNY Flyers, the Academy of General Dentistry, and the Basketball Coaches Association of New York. He is the founder and president of ME Hoops Inc. Dr. Spera currently resides with his wife Angela, whom he met at Syracuse University, and their three children, Marcus, Erica, and Carla. In his spare time, he enjoys spending time with his family, basketball, golf, music and movies. 607-624-2962 (Cell) Sonnyspera@gmail.com Www.progressivedentalny.com   Do you have a FFS practice? Would you like to be interviewed? Fill out the FFS Stories request form here: https://goo.gl/forms/7TaUF9Nqi49l1RFF2

Steve Moskowitz is the founding partner of Moskowitz LLP, A Tax Law Firm. Their tax law firm represents individuals and businesses in tax controversies and disputes, tax litigation, international tax planning, criminal tax defense, tax investigations, offshore banking matters, and tax collection resolution.He has been a tax attorney for more than 30 years. He has made it his personal mission to help business owners, or individual clients, successfully resolve tax issues that go on with their lives. He has extensive knowledge of tax law and a desire for swift and vigorous defense and decades of experience with tax authorities and in the courts. He has unusual perceptive judgment in assessing the best way forward and the right resources to achieve resolution.In our conversation, we discussed:Diversification and be liquid with it with the investmentOvercoming false beliefsTax Deferral StrategiesConnect with Steve Moskowitz:Website: moskowitzllp.comLove the show? Subscribe, rate, review, and share!Here's How »Join the Capital Gains Tax Solutions Community today:capitalgainstaxsolutions.comCapital Gains Tax Solutions FacebookCapital Gains Tax Solutions Twitter

Steve Moskowitz, founder and tax attorney at Moskowitz LLP shares the five most common things that will flag you for auditing byt the IRS. See omnystudio.com/listener for privacy information.

Tax strategy can be a very dry discussion for most entrepreneurs. After all, we love creating new dollars, marketing and growth strategies which make it rain.But if you have a leaky bucket, all the rain will drain to the ground and you'll be left with a lot less than you made.But what if there were a way to reduce taxes or even eliminate them altogether the way many Fortune 500 companies do it?There is a way, in fact there are dozens of ways and strategies that are perfectly legal yet often ignored.That's why I invited Steve Moskowitz on the show today to discuss little-known strategies to help avoid (not evade) taxes.This is less of an interview and more of a conversation where you'll hear me ask specific situational examples that will show what's possible as well as how Steve thinks.If you're on the fence about this episode, wondering if the topic will be too dry to listen to, stop and give it a chance.Because if you're in business now you could be missing a lot of money you could be owed now as well as paying a lot that you could avoid.To contact Steve visit https://moskowitzllp.com or call 888-TAX-DEALOther resources mentioned in the show.https://moskowitzllp.com/tax-lawyer-blog/https://moskowitzllp.com/leaving-california-and-the-franchise-tax-board-behind-a-little-qa-on-california-exit-planning/About Steve MoskowitzSteve started Moskowitz LLP because he saw that while big corporations were consistently navigating the tax code to their advantage, smaller businesses and individuals were not. With prior experience as a CPA at a national accounting firm, and with extensive experience in the corporate world, Steve knew he could help smaller businesses and individuals by applying what he knew. He wanted to make a critical difference in businesses and individual lives that protected them from the powerful government and enabled them to keep and enjoy the fruits of a lifetime of work that otherwise could be taken away from clients by the government in just one action.Today – together with a full team of tax attorneys, CPAs, enrolled agents and other professional staff – Moskowitz LLP helps business and individual clients across the country and overseas to resolve a wide variety of tax matters. The Moskowitz LLP team also creates strategies to utilize the tax code and relevant treaties to clients’ benefit, and provides ongoing tax support and tax return preparation. Unlike most firms, Moskowitz LLP clients pay a flat fee and are not subject to hourly rates.Learn more at MoskowitzLLP.com

In this episode of Practical Tax, tax attorneys Steve Moskowitz and Liz Prehn discuss the issues people can face if they have unfiled taxes. In these cases, many people feel like it’s too late to get their taxes in order, but Steve and Liz are here to tell you that it’s never too late. Listen […] The post Episode 9: Unfiled Taxes appeared first on Moskowitz LLP.

In this episode of Practical Tax, tax attorneys Steve Moskowitz and Liz Prehn discuss economic loss, or, in the tax world, tax deductions that you fail to take. In order to get the possible outcome for your tax situation, you need time, attention to detail and knowledge of the law. A tax attorney can provide […] The post Episode 8: Economic Loss appeared first on Moskowitz LLP.

In this episode of Practical Tax, tax attorneys Steve Moskowitz and Liz Prehn discuss the range of services tax attorneys can provide for their clients. Above all, the goal of the tax attorney – and this podcast, as well – is to make the client aware of different opportunities for saving taxes so they can […] The post Episode 7: The Value of a Tax Attorney appeared first on Moskowitz LLP.

In this episode of Practical Tax, tax attorneys Steve Moskowitz and Liz Prehn discuss the differences between accountants and tax attorneys. While there are major distinctions – including the important attorney-client privilege a tax attorney affords – each position has its benefits, and the two can work in tandem. Listen to the podcast to learn […] The post Episode 6: Is An Accountant Enough? appeared first on Moskowitz LLP.

In this episode of Practical Tax, tax attorneys Steve Moskowitz and Liz Prehn discuss the benefits of proactive financial planning. This strategy may feel like a hassle, but, in the end, it helps to ensure you don’t pay a penny more in taxes than you have to. Listen to the podcast to learn more! Episode […] The post Episode 5: Financial Planning Regrets appeared first on Moskowitz LLP.

In this episode of Practical Tax, tax attorneys Steve Moskowitz and Liz Prehn discuss what you can legally deduct in your 2018 taxes. They’ll walk you through various tax planning details and calculations that you should consider in ensuring all of your deductions could pass the scrutiny of an IRS audit. Listen to the podcast […] The post Episode 4: Can I Deduct That? appeared first on Moskowitz LLP.

In the third episode of Practical Tax, tax attorneys Steve Moskowitz and Liz Prehn discuss the Aggregation Rules within section 199A of the new tax law. If you have multiple business or rental properties, you may be able to combine them for tax calculations. Listen to the podcast to learn more! Episode Transcript Speaker 1: […] The post Episode 3: Aggregation appeared first on Moskowitz LLP.

In the second episode of Practical Tax, tax attorneys Steve Moskowitz and Liz Prehn discuss the new tax law of 2018 – specifically, section 199A. If you qualify, this section lets you pay taxes on only 80% of your profit, instead of 100%. Listen to the podcast to learn more! Episode Transcript Speaker 1: 00:00 […] The post Episode 2: Section 199A appeared first on Moskowitz LLP.

This episode marks the launch of Practical Tax, Moskowitz LLP’s new podcast. Tax attorneys Steve Moskowitz and Liz Prehn discuss the upcoming tax deadline (April 15) and one action you can take if you’re not prepared to meet it – filing an extension to push your deadline to October 15. Listen to the podcast to […] The post Episode 1: IRS Tax Extensions appeared first on Moskowitz LLP.

The changes to the tax code may be a bit frustrating this year. Fortunately, long-time friend of Armstrong & Getty, tax expert Stephen Moskowitz of Moskowitz LLP, joined Jack & Joe to talk about a few ways in which folks can save themselves from being robbed by the taxman!

Tax Attorney Steve Moskowitz with Moskowitz LLP gives last-minute tax tips for 2017. For more information, call (888) TAX-DEAL.

Tax Attorney Steve Moskowitz joins Brian in-studio to give end of the year tax advice. To work with Steve, call Moskowitz LLP at (888) TAX-DEAL.