Measurement, processing and communication of financial information about economic entities
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The Treasurer Jim Chalmers is downplaying official advice stating the Federal Budget isn't sustainable unless taxes are raised and spending reduced.
Real CPA with 20+ Years of Experience, Chase Insogna, reacts to some of the worst tax advice on tiktok.Learn More About BetterWealth: https://betterwealth.com Learn More about Chase and his Team: https://insognacpa.com/ 00:00 Introduction to Tax Strategies02:52 The Impact of Social Media on Tax Advice06:22 Why IRA's Suck?11:26 How Backdoor ROTH Works?13:22 Tax Strategies for High-Income Earners20:31 Why All The Rich People Drive G-Wagons?28:00 Augusta Rule31:30 How Do The Wealthy Legally Pay Zero Taxes?37:48 How To Legally Avoid Property Tax42:16 Free Property Taxes44:11 Final ThoughtsWant a Life Insurance Policy? Go Here: https://bttr.ly/bw-yt-aa-clarity Want FREE Whole Life Insurance Resources & Education? Go Here: https://bttr.ly/yt-bw-vault______________________________________________ Learn More About BetterWealth: https://betterwealth.com====================DISCLAIMER: https://bttr.ly/aapolicy*This video is for entertainment purposes only and is not financial or legal advice.Financial Advice Disclaimer: All content on this channel is for education, discussion, and illustrative purposes only and should not be construed as professional financial advice or recommendation. Should you need such advice, consult a licensed financial or tax advisor. No guarantee is given regarding the accuracy of the information on this channel. Neither host nor guests can be held responsible for any direct or incidental loss incurred by applying any of the information offered.
Host and American Family Farmer, Doug Stephan www.eastleighfarm.com introduces us to Tim Gradert, Senior Tax Manager with Uncommon Farms. In this episode, Doug and Tim explore the often-overlooked power of smart tax planning in agriculture. From proactive strategies that boost profitability to overcoming unique hurdles family farmers face during tax season, Tim shares insight drawn from years of hands-on experience in ag-specific tax preparation. They dive into deductions that can make a difference—like Section 179 and bonus depreciation—and highlight the importance of year-round tax planning, accurate record keeping, and leveraging tools like AgManager® for seamless tax integration. You'll also hear how UnCommon Farms supports farmers not just at tax time, but year-round—through education, software solutions, and personal consultation—to help ensure no opportunity is missed. Whether you're navigating asset basis, succession planning, or compliance with changing ag laws, this episode is packed with advice designed to keep your farm financially resilient and strategically prepared.Website: AmericanFamilyFarmerShow.comSocial Media: @GoodDayNetworks
In this episode, our host and Senior Associate at RPC, Alexis Armitage, is joined by colleagues Helen Kerr and Tom Wild from RPC's Professional Liability team to explore how professional negligence claims can arise during the lifecycle of a tax dispute.Together, they consider where advisers, particularly lawyers and accountants, face exposure to negligence claims, as they discuss:the typical lifecycle of a tax disputecommon scenarios where negligence may occurhow courts assess negligencethe role of insurers in professional negligence casespractical tips for advisers, lawyers, and insurers to prevent negligenceWhether you are a tax adviser or insurer, this episode offers insights into how tax advice can go wrong, and how to safeguard against it.If you would like to discuss any of the matters raised in this episode, please contact Adam Craggs or Alexis Armitage.All information is correct at the time of recording. Taxing Matters is not a substitute for legal advice. Hosted on Acast. See acast.com/privacy for more information.
If you're searching for expert help with South African tax, this episode with Andre Bothma delivers essential insights for small business owners and digital entrepreneurs.Andre Bothma, founder of Rafu, is a seasoned tax strategist who helps entrepreneurs simplify their structure, pay less tax, and make more money — especially in the evolving digital and global economy. Whether you're a solopreneur, digital nomad, or international startup founder, this conversation covers strategies that directly address the questions and challenges you're searching to solve.Andre breaks down the tax benefits of setting up a business in South Africa, how to navigate global tax optimization, and what financial services for small business actually look like in practice. He also shares how to legally reduce your tax burden using systems like the Small Business Corporation scheme and how to leverage AI for entrepreneurs to increase efficiency and drive decision-making.This episode is packed with real, relatable advice for those who want to stay compliant while optimizing profits — whether you're in Canada, the US, the UK, or South Africa itself. You'll also hear about AI tools like Grok and how Andre uses them daily to help clients make smart financial decisions.
In this episode of the Sunlight Tax podcast, I dive into the essentials of choosing the right business structure for anyone in self-employment, especially when it comes to forming an LLC or electing S-Corp status. I highlight why it's important to avoid unnecessary business formations and walk you through the proper order of business operations—reminding you that your business officially begins the moment you start advertising. I also share practical tax advice, including how different structures impact your taxes, and offer tips on bookkeeping and protecting yourself with liability insurance. Whether you're a new entrepreneur or already deep into running your business, this episode will help you assess your needs and make confident decisions about your structure. Understanding your options as a self-employed business owner can save you time, money, and headaches down the road. Also mentioned in this episode: 00:00 Understanding Business Structures: LLCs and S-Corps 04:02 Order of Operations in Business 09:58 The Role of LLCs in Business 12:20 Understanding S Corporations 19:00 Final Thoughts on Business Structure and Operations If you enjoyed this episode, please rate, review and share it! Every review makes a difference by telling Apple or Spotify to show the Sunlight podcast to new audiences. Links: Link to pre-order my book, Taxes for Humans: Simplify Your Taxes and Change the World When You're Self-Employed. Get your free visual guide to tax deductions Check out my program, Money Bootcamp
Alicia and Veronica spin their "Wheel of Rants" to discuss essential boundaries accountants and bookkeepers should establish in their practice. From avoiding legal advice to setting proper client communication channels, they share war stories about embezzlement, email scams, and problematic client relationships. The hosts reveal why engagement letters are critical, how proper password management protects everyone involved, and why working for free ultimately undermines the entire industry.SponsorsDebits - https://uqb.promo/debits(00:00) - Welcome to The Unofficial QuickBooks Accountants Podcast (00:27) - Spring Break Road Trip and Intuit Campus Visit (01:54) - Spinning the Wheel of Rants (02:47) - Allowing Clients to Control the Work (04:34) - Giving Legal or Tax Advice (09:24) - Taking Clients Without Required Skills (14:51) - Working for Free and Discounting Invoices (21:04) - Access to Client Bank Accounts (25:44) - Managing Client Communication (29:47) - Importance of Engagement Letters (33:08) - Reviewing and Updating Engagement Letters (35:59) - Vetting Clients Before Engagement (41:50) - Emotional Boundaries with Clients (44:52) - Confidentiality and Professionalism (47:50) - Course Announcements and Wrap-Up Resources LinkedIn Group: https://www.linkedin.com/groups/14630719/YouTube Channel: https://www.youtube.com/@UnofficialQuickBooksPodcastEmail: unofficialquickbookspodcast@gmail.com Nancy McClelland's Ask A CPA community: https://www.thedancingaccountant.com/ask-a-cpa-signup1Password: 1password.comKeeper: https://keeper.app/?via=4aaea6Alicia's Mobile App class: May 13
In today's episode of our “Get to Know Your Expert Council” series, we're talking taxes—but not the way your CPA would. Matthew Sercely of Agorist Tax Advice joins us to break down how feral humans can play the money game without selling out or ending up in hot water. Matthew isn't just some guy with opinions. He's a legit tax advisor with a law background who works with real-world clients—from solopreneurs to medical pros—helping them keep more of their money and stay out of the IRS's crosshairs. If you're trying to live free, earn on your terms, or build outside … Continue reading →
The Steve Harvey Morning Show for Tuesday, April 15th, 2025: Steve Harvey has some very simple tax advice. The first all-female space crew returned safely. The Strawberry Letter: "Don't Get Fooled Into Cheating" is really crazy. The crew discuss things they will never FAFO with. There's Would You Rather, Ask The CLO, and a lot more! Support the show: https://www.steveharveyfm.com/See omnystudio.com/listener for privacy information.
With less than 24 hours until the April 15th deadline, CNBC senior personal finance correspondent Shannon Epperson shares some last minute tax advice. Plus, childhood memorabilia now worth thousands – a look at what's behind the new Pokemon craze. And, Christopher Meloni talks Peacock's “Law & Order: Organized Crime.”
This week's program is a very special two-parter! We begin with a piece produced by our Forward Radio intern and UofL student, Eli Herold, in conversation with Mark Steber, Chief Tax Officer of Jackson Hewitt Tax Services, who shares some valuable advice for complex tax returns, especially for Gen-Z tax filers, including advice on cryptocurrencies, investments, sports betting, and side gigs. Mark Steber is responsible for key initiatives at Jackson Hewitt that support overall tax service delivery and quality assurance. Mark also serves as a Jackson Hewitt liaison with the Internal Revenue Service, states and other government authorities. With more than 35 years of tax experience and deep knowledge of the federal and state tax codes, Mark is widely referenced as a national, well-versed expert on consumer income tax issues, especially electronic-tax and tax data-protection issues. The second half of the show is devoted to bringing you some highlights of the great community conversation we had at Forward Radio's 8th Birthday Party on Saturday, April 5, 2025 at Maybe It's Fate, a cooperative community center and art gallery at 1425 Story Avenue in Butchertown. Listen in as we bring you some of the live conversations we had with community non-profits, our live musician for the evening, Logan Leet, and many others who came out to celebrate with us and help us raise funds to stay on the air! If you couldn't make it out or would like to give us a birthday present, it's never too late to donate! We rely entirely on listener support and you can always chip in at https://www.forwardradio.org/donate Truth to Power airs every Friday at 9pm, Saturday at 11am, and Sunday at 7pm on Louisville's grassroots, community radio station, Forward Radio 106.5fm WFMP and live streams at https://forwardradio.org
What does spending your winter in the U.S. mean for your taxes? Join Frankie Loreto and Sarah Netley as they chat with Kevin Tippet about the ins and outs of Canadian snowbirds managing their tax responsibilities when living or owning property in the United States. Whether it's the intricacies of the 183-day rule, buying vacation … Read More Read More
IRS Tax Attorney Steven A. Leahy of the Law Office of Steven A. Leahy, PC with Opem Tax Advocates joins Lisa Dent to share some tax advice as the tax deadline creeps closer.
Wednesday, March 26 - Host and American Family Farmer, Doug Stephan www.eastleighfarm.com shares the news affecting small farmers in America, including a focus on the Trump Administration and the freeze on previously approved farm projects and the financial toll it is taking on farmers, farm groups, farm states, farm industries, and why many in farming and agriculture are not happy. Next up, the bird flu continues to spread, exactly how long the avian influenza has really been around prior to the most recent outbreak, and how it's affecting the dairy industry in addition to the poultry and egg industry. Then, Doug introduces us to Bryan Ravencraft, a CPA with Holbrook and Manter in Ohio. Bryan discusses his work in accounting services for agriculture businesses and why being proactive is the best effort for his clients to plan for potential challenges and address their future plans for their farm and ag business. Bryan also helps his clients' agri-businesses grow by making the best decisions that benefit individual farms and ag businesses. Brian has worked with Holbrook and Mantr since 1995, primarily focusing on the areas of tax consulting and advisory services within several industries in farming and ag - agribusiness, construction, manufacturing, non-profit, professional services, real estate and closely held businesses and their owners. Lastly, Doug opines what farms with flocks, or backyard chickens, can do to be proactive in battling against the risk of infection from the avian flu. Website: AmericanFamilyFarmerShow.com Social Media: @GoodDayNetworks
Welcome to the Social-Engineer Podcast: The 4th Monday Series with Chris Hadnagy and Mike Holfeld. Chris and Mike will be covering cutting edge global news to help people remain safe, secure and knowledgeable in a world where it is hard to know what is real and what is fake news. Today Chris and Mike are joined by Nancy Hecht. Nancy started in the financial service business in 1983 as a registered Rep, moved to Certified Financial Group in 1988, and became a CFP in 1994. She is now a fee-based CFP where she provides comprehensive planning and investment management. [March 24, 2025] 00:00 - Intro 00:18 - Mike Holfeld Intro 00:46 - Today's Guest: Nancy Hecht 01:08 - Topic of the Day: Financial Advice 01:31 - The Ever-Changing Future of Taxes 02:51 - Roth IRA vs 401K 05:35 - The Difference Between Need and Want 07:54 - Prepping for Retirement 11:37 - Being Diversified 13:11 - Crypto 15:05 - Toe in the Sock Money 16:49 - The Big 5 17:41 - Pay Yourself First 18:37 - Basic Tips 19:11 - Don't Panic! 21:09 - Closing Advice 22:32 - Find Nancy Hecht Online - Website: hechteffect.net - Email: n.hecht@financialgroup.com - Phone: 407-869-9800 22:52 - Wrap Up 23:19 - Next Month: Baseball Technology 24:12 - Outro - www.social-engineer.com - www.innocentlivesfoundation.org Find us online: - Chris Hadnagy - Twitter: @humanhacker - LinkedIn: linkedin.com/in/christopherhadnagy
The Electric State, Kill Switches, Baidu's AI, Scopely, Careless People, Gemini Robotics An arbitrator instructs a former Meta employee to stop promoting and publishing her book alleging company misconduct; publisher Flatiron Books earlier objected DeepMind's latest AI model can help robots fold origami and close Ziploc bags Future Today Strategy Group, or FTSG. Intel has a new CEO Russo Brothers' Busy, Boring Netflix Sci-Fi Directors Anthony and Joe Russo say they're building a high-tech studio aiming to help artists use AI as a creative tool to make films, shows, and video games Baidu launches two new versions of its AI model Ernie Startup Claims Its Upcoming (RISC-V ISA) Zeus GPU is 10X Faster Than Nvidia's RTX 5090 Pokemon Go is getting a new owner after almost 9 years with Niantic Developer convicted for "kill switch" code activated upon his termination TikTok will play 'calming music' to remind teens to stop using the app F-35 kill switch concerns non-US countries Firmware update bricks HP printers, makes them unable to use HP cartridges Sonos Cancels Its Streaming Video Player - Slashdot Everything You Say To Your Echo Will Be Sent To Amazon Starting On March 28 Musk-led cuts drive US consumer protection agency to ask for Amazon trial delay Host: Leo Laporte Guests: Amy Webb, Glenn Fleishman, and Mikah Sargent Download or subscribe to This Week in Tech at https://twit.tv/shows/this-week-in-tech Join Club TWiT for Ad-Free Podcasts! Support what you love and get ad-free shows, a members-only Discord, and behind-the-scenes access. Join today: https://twit.tv/clubtwit Sponsors: zscaler.com/security shopify.com/twit joindeleteme.com/twit promo code TWIT ZipRecruiter.com/Twit uscloud.com
The Electric State, Kill Switches, Baidu's AI, Scopely, Careless People, Gemini Robotics An arbitrator instructs a former Meta employee to stop promoting and publishing her book alleging company misconduct; publisher Flatiron Books earlier objected DeepMind's latest AI model can help robots fold origami and close Ziploc bags Future Today Strategy Group, or FTSG. Intel has a new CEO Russo Brothers' Busy, Boring Netflix Sci-Fi Directors Anthony and Joe Russo say they're building a high-tech studio aiming to help artists use AI as a creative tool to make films, shows, and video games Baidu launches two new versions of its AI model Ernie Startup Claims Its Upcoming (RISC-V ISA) Zeus GPU is 10X Faster Than Nvidia's RTX 5090 Pokemon Go is getting a new owner after almost 9 years with Niantic Developer convicted for "kill switch" code activated upon his termination TikTok will play 'calming music' to remind teens to stop using the app F-35 kill switch concerns non-US countries Firmware update bricks HP printers, makes them unable to use HP cartridges Sonos Cancels Its Streaming Video Player - Slashdot Everything You Say To Your Echo Will Be Sent To Amazon Starting On March 28 Musk-led cuts drive US consumer protection agency to ask for Amazon trial delay Host: Leo Laporte Guests: Amy Webb, Glenn Fleishman, and Mikah Sargent Download or subscribe to This Week in Tech at https://twit.tv/shows/this-week-in-tech Join Club TWiT for Ad-Free Podcasts! Support what you love and get ad-free shows, a members-only Discord, and behind-the-scenes access. Join today: https://twit.tv/clubtwit Sponsors: zscaler.com/security shopify.com/twit joindeleteme.com/twit promo code TWIT ZipRecruiter.com/Twit uscloud.com
The Electric State, Kill Switches, Baidu's AI, Scopely, Careless People, Gemini Robotics An arbitrator instructs a former Meta employee to stop promoting and publishing her book alleging company misconduct; publisher Flatiron Books earlier objected DeepMind's latest AI model can help robots fold origami and close Ziploc bags Future Today Strategy Group, or FTSG. Intel has a new CEO Russo Brothers' Busy, Boring Netflix Sci-Fi Directors Anthony and Joe Russo say they're building a high-tech studio aiming to help artists use AI as a creative tool to make films, shows, and video games Baidu launches two new versions of its AI model Ernie Startup Claims Its Upcoming (RISC-V ISA) Zeus GPU is 10X Faster Than Nvidia's RTX 5090 Pokemon Go is getting a new owner after almost 9 years with Niantic Developer convicted for "kill switch" code activated upon his termination TikTok will play 'calming music' to remind teens to stop using the app F-35 kill switch concerns non-US countries Firmware update bricks HP printers, makes them unable to use HP cartridges Sonos Cancels Its Streaming Video Player - Slashdot Everything You Say To Your Echo Will Be Sent To Amazon Starting On March 28 Musk-led cuts drive US consumer protection agency to ask for Amazon trial delay Host: Leo Laporte Guests: Amy Webb, Glenn Fleishman, and Mikah Sargent Download or subscribe to This Week in Tech at https://twit.tv/shows/this-week-in-tech Join Club TWiT for Ad-Free Podcasts! Support what you love and get ad-free shows, a members-only Discord, and behind-the-scenes access. Join today: https://twit.tv/clubtwit Sponsors: zscaler.com/security shopify.com/twit joindeleteme.com/twit promo code TWIT ZipRecruiter.com/Twit uscloud.com
The Electric State, Kill Switches, Baidu's AI, Scopely, Careless People, Gemini Robotics An arbitrator instructs a former Meta employee to stop promoting and publishing her book alleging company misconduct; publisher Flatiron Books earlier objected DeepMind's latest AI model can help robots fold origami and close Ziploc bags Future Today Strategy Group, or FTSG. Intel has a new CEO Russo Brothers' Busy, Boring Netflix Sci-Fi Directors Anthony and Joe Russo say they're building a high-tech studio aiming to help artists use AI as a creative tool to make films, shows, and video games Baidu launches two new versions of its AI model Ernie Startup Claims Its Upcoming (RISC-V ISA) Zeus GPU is 10X Faster Than Nvidia's RTX 5090 Pokemon Go is getting a new owner after almost 9 years with Niantic Developer convicted for "kill switch" code activated upon his termination TikTok will play 'calming music' to remind teens to stop using the app F-35 kill switch concerns non-US countries Firmware update bricks HP printers, makes them unable to use HP cartridges Sonos Cancels Its Streaming Video Player - Slashdot Everything You Say To Your Echo Will Be Sent To Amazon Starting On March 28 Musk-led cuts drive US consumer protection agency to ask for Amazon trial delay Host: Leo Laporte Guests: Amy Webb, Glenn Fleishman, and Mikah Sargent Download or subscribe to This Week in Tech at https://twit.tv/shows/this-week-in-tech Join Club TWiT for Ad-Free Podcasts! Support what you love and get ad-free shows, a members-only Discord, and behind-the-scenes access. Join today: https://twit.tv/clubtwit Sponsors: zscaler.com/security shopify.com/twit joindeleteme.com/twit promo code TWIT ZipRecruiter.com/Twit uscloud.com
The Electric State, Kill Switches, Baidu's AI, Scopely, Careless People, Gemini Robotics An arbitrator instructs a former Meta employee to stop promoting and publishing her book alleging company misconduct; publisher Flatiron Books earlier objected DeepMind's latest AI model can help robots fold origami and close Ziploc bags Future Today Strategy Group, or FTSG. Intel has a new CEO Russo Brothers' Busy, Boring Netflix Sci-Fi Directors Anthony and Joe Russo say they're building a high-tech studio aiming to help artists use AI as a creative tool to make films, shows, and video games Baidu launches two new versions of its AI model Ernie Startup Claims Its Upcoming (RISC-V ISA) Zeus GPU is 10X Faster Than Nvidia's RTX 5090 Pokemon Go is getting a new owner after almost 9 years with Niantic Developer convicted for "kill switch" code activated upon his termination TikTok will play 'calming music' to remind teens to stop using the app F-35 kill switch concerns non-US countries Firmware update bricks HP printers, makes them unable to use HP cartridges Sonos Cancels Its Streaming Video Player - Slashdot Everything You Say To Your Echo Will Be Sent To Amazon Starting On March 28 Musk-led cuts drive US consumer protection agency to ask for Amazon trial delay Host: Leo Laporte Guests: Amy Webb, Glenn Fleishman, and Mikah Sargent Download or subscribe to This Week in Tech at https://twit.tv/shows/this-week-in-tech Join Club TWiT for Ad-Free Podcasts! Support what you love and get ad-free shows, a members-only Discord, and behind-the-scenes access. Join today: https://twit.tv/clubtwit Sponsors: zscaler.com/security shopify.com/twit joindeleteme.com/twit promo code TWIT ZipRecruiter.com/Twit uscloud.com
The Electric State, Kill Switches, Baidu's AI, Scopely, Careless People, Gemini Robotics An arbitrator instructs a former Meta employee to stop promoting and publishing her book alleging company misconduct; publisher Flatiron Books earlier objected DeepMind's latest AI model can help robots fold origami and close Ziploc bags Future Today Strategy Group, or FTSG. Intel has a new CEO Russo Brothers' Busy, Boring Netflix Sci-Fi Directors Anthony and Joe Russo say they're building a high-tech studio aiming to help artists use AI as a creative tool to make films, shows, and video games Baidu launches two new versions of its AI model Ernie Startup Claims Its Upcoming (RISC-V ISA) Zeus GPU is 10X Faster Than Nvidia's RTX 5090 Pokemon Go is getting a new owner after almost 9 years with Niantic Developer convicted for "kill switch" code activated upon his termination TikTok will play 'calming music' to remind teens to stop using the app F-35 kill switch concerns non-US countries Firmware update bricks HP printers, makes them unable to use HP cartridges Sonos Cancels Its Streaming Video Player - Slashdot Everything You Say To Your Echo Will Be Sent To Amazon Starting On March 28 Musk-led cuts drive US consumer protection agency to ask for Amazon trial delay Host: Leo Laporte Guests: Amy Webb, Glenn Fleishman, and Mikah Sargent Download or subscribe to This Week in Tech at https://twit.tv/shows/this-week-in-tech Join Club TWiT for Ad-Free Podcasts! Support what you love and get ad-free shows, a members-only Discord, and behind-the-scenes access. Join today: https://twit.tv/clubtwit Sponsors: zscaler.com/security shopify.com/twit joindeleteme.com/twit promo code TWIT ZipRecruiter.com/Twit uscloud.com
The Electric State, Kill Switches, Baidu's AI, Scopely, Careless People, Gemini Robotics An arbitrator instructs a former Meta employee to stop promoting and publishing her book alleging company misconduct; publisher Flatiron Books earlier objected DeepMind's latest AI model can help robots fold origami and close Ziploc bags Future Today Strategy Group, or FTSG. Intel has a new CEO Russo Brothers' Busy, Boring Netflix Sci-Fi Directors Anthony and Joe Russo say they're building a high-tech studio aiming to help artists use AI as a creative tool to make films, shows, and video games Baidu launches two new versions of its AI model Ernie Startup Claims Its Upcoming (RISC-V ISA) Zeus GPU is 10X Faster Than Nvidia's RTX 5090 Pokemon Go is getting a new owner after almost 9 years with Niantic Developer convicted for "kill switch" code activated upon his termination TikTok will play 'calming music' to remind teens to stop using the app F-35 kill switch concerns non-US countries Firmware update bricks HP printers, makes them unable to use HP cartridges Sonos Cancels Its Streaming Video Player - Slashdot Everything You Say To Your Echo Will Be Sent To Amazon Starting On March 28 Musk-led cuts drive US consumer protection agency to ask for Amazon trial delay Host: Leo Laporte Guests: Amy Webb, Glenn Fleishman, and Mikah Sargent Download or subscribe to This Week in Tech at https://twit.tv/shows/this-week-in-tech Join Club TWiT for Ad-Free Podcasts! Support what you love and get ad-free shows, a members-only Discord, and behind-the-scenes access. Join today: https://twit.tv/clubtwit Sponsors: zscaler.com/security shopify.com/twit joindeleteme.com/twit promo code TWIT ZipRecruiter.com/Twit uscloud.com
The Electric State, Kill Switches, Baidu's AI, Scopely, Careless People, Gemini Robotics An arbitrator instructs a former Meta employee to stop promoting and publishing her book alleging company misconduct; publisher Flatiron Books earlier objected DeepMind's latest AI model can help robots fold origami and close Ziploc bags Future Today Strategy Group, or FTSG. Intel has a new CEO Russo Brothers' Busy, Boring Netflix Sci-Fi Directors Anthony and Joe Russo say they're building a high-tech studio aiming to help artists use AI as a creative tool to make films, shows, and video games Baidu launches two new versions of its AI model Ernie Startup Claims Its Upcoming (RISC-V ISA) Zeus GPU is 10X Faster Than Nvidia's RTX 5090 Pokemon Go is getting a new owner after almost 9 years with Niantic Developer convicted for "kill switch" code activated upon his termination TikTok will play 'calming music' to remind teens to stop using the app F-35 kill switch concerns non-US countries Firmware update bricks HP printers, makes them unable to use HP cartridges Sonos Cancels Its Streaming Video Player - Slashdot Everything You Say To Your Echo Will Be Sent To Amazon Starting On March 28 Musk-led cuts drive US consumer protection agency to ask for Amazon trial delay Host: Leo Laporte Guests: Amy Webb, Glenn Fleishman, and Mikah Sargent Download or subscribe to This Week in Tech at https://twit.tv/shows/this-week-in-tech Join Club TWiT for Ad-Free Podcasts! Support what you love and get ad-free shows, a members-only Discord, and behind-the-scenes access. Join today: https://twit.tv/clubtwit Sponsors: zscaler.com/security shopify.com/twit joindeleteme.com/twit promo code TWIT ZipRecruiter.com/Twit uscloud.com
We're kicking off 2025 with a must-hear episode! AMD chats with Katherine Studley, “The Only Consultant,” about her journey from CPA to TikTok sensation providing judgment-free tax help for sex workers. Katherine breaks down essential tax tips, the importance of write-offs, and what to do with all that money from your sugar daddy. Whether you're behind on taxes or unsure how to handle income from Venmo or CashApp, Katherine has you covered. Learn how to take control of your finances, avoid common pitfalls, and navigate taxes with confidence. Don't miss this insightful and empowering conversation! Follow Katherine @the_only_consultant Visit TheOnlyConsultant.com Follow AM @amdavies_ Support heauxprahs everywhere on yesastripper.com Produced by Makenzie Mizell
For many people, selling items online is an easy way to make some extra money and clear out unwanted clutter. But when do you need to start paying tax on these earnings? Hywel Davies has been speaking to HMRC for some advice. You can find out more information about selling online here - Information for online sellers - GOV.UK
IRS Tax Attorney Steven A. Leahy of the Law Office of Steven A. Leahy, PC with Opem Tax Advocates joins Jon Hansen on Let’s Get Legal to give tax advice for those who are self-employed and those who are business owners. Additionally, he answers texts and calls from WGN Radio listeners.
End of the Year Tax Advice Reminder. Ever met anyone that LIKES their bookkeeper? Our clients love us. Why? We save money AND provide great service. To learn more click the link - https://bigbirdaccounting.com
On today's episode of the podcast I'm talking about terrible advice I see on the internet and how to avoid it. Next Thursday, December 5th, I'm hosting two workshops - "Legally Launched" and "6-Figure Tax Blueprint," tailored to your needs as a business owner. You'll leave with the core takeaways you need to take action after the workshop. Learn more about which one is right for you and register for the workshop(s) at notavglaw.com/masterclassI'm only sharing 10 of the terrible pieces of advice I often see on the Internet, but I could have made this a multi-part episode. 1. Don't form an LLC until you hit $30,000 in revenue. - I hear lots of mythical revenue markers but there's no magic number because LLCs provide liability protection at any revenue. The more money you make, the more liability you're likely open to because you're more working with more clients which can lead to more problems. The longer you wait the more hassle it is to form an LLC. 2. Form an S Corp right away. - When you form an S Corp you are legally required to put yourself on payroll, pay yourself a reasonable recurring salary, and have profit leftover in your business which you can't do if you aren't making money when you start right away. We'll dive into this deeper on the 6-Figure Tax Blueprint workshop. 3. Just use LegalZoom. - I'm not a huge fan for many reasons including lack of added benefits. They ask you questions to fill out a form you can fill out for free yourself online. They charge you to get an EIN when you get your EIN for free on the IRS website. 4. Just do it yourself. - If you scroll through social media I frequently see people say "use LegalZoom" or "do it yourself" or "go work with a lawyer." I suggest somewhere in-between. The problem with doing it yourself is we've seen clients who did it incorrectly. Once you file, you need to maintain your LLC compliance requirements including back franchise taxes. I believe in a well-rounded approach of doing it yourself, with guidance which is why I started creating courses. 5. You don't need trademarks. - This is kind of like telling someone you don't need health insurance. You hope you'll never need to enforce it, but if you need to use it and don't have it, it's a problem. 6. Trademark everything. - It depends on who you are as a business owner and what you're launching. 7. Don't trust templates. - The person who writes the contract template understands your industry, your business, and these templates are typically based on contracts they've custom written for clients. 8. You don't need to do that. - This can refer to a lot of things, but I see it often with things like BOI (Beneficial Information Ownership reports), testimonial requirements, website compliance, etc. Too often people think these laws are for big corporations like Amazon or Target and not small businesses like us, but we see it happen to small businesses all the time. 9. Just write it off. - Not everything is a tax deduction! You need to be using it for business. And writing it off doesn't make it free. Focus on buying things that have a high ROI. 10. You can pay $0 in taxes. - Not every strategy is helpful, even if it's not fraudulent. You may end up owing more in the long run and all tips don't apply to all businesses. Register for our December 5th workshop(s) at notavglaw.com/masterclass
Brian and Bo take on some of the craziest tax advice we've found on TikTok! Jump start your journey with our FREE financial resources Reach your goals faster with our products Take the relationship to the next level: become a client Subscribe on YouTube for early access and go beyond the podcast Connect with us on social media for more content Bring confidence to your wealth building with simplified strategies from The Money Guy. Learn how to apply financial tactics that go beyond common sense and help you reach your money goals faster. Make your assets do the heavy lifting so you can quit worrying and start living a more fulfilled life.
Ruchi Pinniger is the Founder and CEO of Watch Her Prosper®, helping small business owners and entrepreneurs master their finances and business growth. With a holistic approach, Ruchi provides financial guidance, bookkeeping, and tax-time readiness, as well as focusing on heightening her clients' prosperity mindset. Ruchi connects the business to the person, helping her clients break free from shame and guilt surrounding wealth and see huge results in their profitability and economic growth. She is an Executive Board member for Savvy Ladies, an organization that helps women improve their financial literacy and take control of their money.
In this episode of the Main Street Business Podcast, host Mark J. Kohler breaks down key tax-saving strategies every business owner should know, including why a side hustle is often crucial for effective tax planning. He also highlights the dangers of misleading crypto tax advice and urges listeners to stay vigilant. Mark's practical approach will leave listeners feeling empowered and informed to make smarter tax choices in a complex financial landscape.Here are some of the highlights:Mark emphasizes that setting up an LLC does not change tax deductions.Example of a lemonade stand to illustrate that expenses are deductible regardless of LLC status.Warning against chasing deals solely for tax benefits without considering the underlying quality of the investment.Explanation of cost segregation as a strategy to depreciate rental properties faster.The pitfalls of C corporations, such as double taxation and the temptation to take excessive salaries.Clarification on how the IRS can see all cryptocurrency transactions and that there is no special tax rate for crypto.The importance of finding a real tax advisor who understands myths and truths. Are you ready to get certified in EVERY strategy I teach? Start your journey with a FREE 15-minute demo. You don't want to miss this! Secure your tickets for the most significant tax & legal event of the year: Tax and Legal 360 Curious what my new certification is all about? Learn More Looking to connect with a rock star law firm? KKOS is only a click away! Grab my FREE Ultimate Tax Strategy Guide HERE! Check out our YOUTUBE Channel Here: https://www.youtube.com/markjkohler Craving more content? Check out my Instagram!
What is the difference between tax planning vs tax advice? In this episode of
Expert tax guidance for expats and multinational businesses worldwide. Tune in to this episode for tax advice thats's hard to find anywhere else.
This varies with the topic Jason Lynch Episode: #38 Podcast Date: 8/23/2024
In this episode of the Main Street Business podcast, host Mark J. Kohler unpacks the top 5 strategies that can change the way you think about money. Learn about IRS rules for cryptocurrency, why side hustles are more than just extra cash, and the benefits of retirement accounts like Roth IRAs and the Mega Backdoor Roth strategy.Here are some of the highlights:Mark points out how the IRS received $80 billion to enforce more audits and tracking.Mark maps out the three ways cryptocurrency is taxed: selling for USD, trading for another crypto, using for purchases.The significance of side hustles and how essential they are for saving taxes and building wealth.Importance of choosing the right side hustle and developing a business plan.Determining capital needs and structuring the business (sole proprietorship or LLC).The top 10 write-offs for side hustles.Explanation of the 'backdoor Roth IRA' strategy for high-income earners.Introduction to self-directed IRAs and their potential for higher returns. Are you ready to get certified in EVERY strategy I teach? Start your journey with a FREE 15-minute demo. You don't want to miss this! Secure your tickets for the most significant tax & legal event of the year: Tax and Legal 360 Curious what my new certification is all about? Learn More Looking to connect with a rock star law firm? KKOS is only a click away! Grab my FREE Ultimate Tax Strategy Guide HERE! Check out our YOUTUBE Channel Here: https://www.youtube.com/markjkohler Craving more content? Check out my Instagram!
Join Scott Lurie and guest Eugene Marshall from Magnolia Tax Services for a session on maximizing your tax benefits in real estate investing. In this session, we'll explore: The line between tax planning and preparationSecrets of beneficial ownership information reportingEssential tax write-offs that can dramatically impact your financial outcomesAnd much more!Whether you're looking to optimize your current investments or prepare for future opportunities, this webinar will provide you with the tax strategies that literally pay for themselves.This webinar is part of our ongoing series designed to empower real estate investors with insights and strategies that will change the way they do business
Follow Jasmine: youtube.com/@taxleverage instagram.com/taxleveragejd taxleverage.com
Financial Freedom for Physicians with Dr. Christopher H. Loo, MD-PhD
Join us for an enlightening episode with Matthew Sercely, a dedicated tax advisor and lawyer with over 15 years of experience, who has helped countless entrepreneurs legally reduce their taxes and achieve financial freedom. Matthew, a freedom-loving tax planner and ardent libertarian, shares his expertise on how businesses can maximize deductions, leverage real estate investments, and avoid common tax pitfalls. We delve into his approach to "Taxation Judo," uncovering advanced strategies that can save your business thousands of dollars. Discover why Matthew believes real estate is the ultimate tax-saving tool, and learn from his journey as a serial entrepreneur who has successfully navigated the complexities of taxation. Whether you're new to entrepreneurship or a seasoned business owner, this episode is packed with actionable insights to help you optimize your tax strategy and enhance your financial well-being. Don't miss this chance to gain invaluable knowledge from a true expert in the field. To connect with Matthew, visit his website: https://www.agoristtaxadvice.com/ Disclaimer: Not advice. Educational purposes only. Not an endorsement for or against. Results not vetted. Views of the guests do not represent those of the host or show. Do your due diligence. Click here to join PodMatch (the "AirBNB" of Podcasting): https://www.joinpodmatch.com/drchrisloomdphd We couldn't do it without the support of our listeners. To help support the show: CashApp- https://cash.app/$drchrisloomdphd Venmo- https://account.venmo.com/u/Chris-Loo-4 Buy Me a Coffee- https://www.buymeacoffee.com/chrisJx Click here to schedule a 1-on-1 private coaching call: https://www.drchrisloomdphd.com/book-online Click here to purchase my books on Amazon: https://amzn.to/2PaQn4p Follow our YouTube channel: https://www.youtube.com/chL1357 Follow us on Twitter: https://www.twitter.com/drchrisloomdphd Follow us on Instagram: https://www.instagram.com/thereal_drchrisloo Follow us on Threads: https://www.threads.net/@thereal_drchrisloo Follow us on TikTok: https://www.tiktok.com/@drchrisloomddphd Follow the podcast on Spotify: https://open.spotify.com/show/3NkM6US7cjsiAYTBjWGdx6?si=1da9d0a17be14d18 Subscribe to our Substack newsletter: https://substack.com/@drchrisloomdphd1 Subscribe to our Medium newsletter: https://medium.com/@drchrisloomdphd Subscribe to our email newsletter: https://financial-freedom-for-physicians.ck.page/b4622e816d Subscribe to our LinkedIn newsletter: https://www.linkedin.com/build-relation/newsletter-follow?entityUrn=6992935013231071233 Join our Patreon Community: https://www.patreon.com/user?u=87512799 Join our Spotify Community: https://podcasters.spotify.com/pod/show/christopher-loo/subscribe Thank you to our advertisers on Spotify. Financial Freedom for Physicians, Copyright 2024
Join hosts Mark J. Kohler and Mat Sorensen on the Main Street Business Podcast as they delve into the topics that matter most to you. From strategies to minimize estate taxes to the complexities of cryptocurrency and S-Corp ownership, there's no stone left unturned. Plus, get the inside scoop on the Main Street Tax Pro Certification and its many benefits. Here are some of the highlights:Mark and Mat begin with an in-depth discussion on reducing tax on large inheritance from overseas investments.Process of changing ownership of an S Corp and its tax implications.Explanation of the backdoor Roth IRA process and common mistakes.Importance of specifying access mechanisms for off-exchange crypto assets.Mark and Mat unpack the various benefits of the Main Street Tax Pro Certification for strategic tax planning.Impact of cost segregation studies on active income and real estate professional status.Ways to reduce capital gains tax on the sale of a home. Are you ready to get certified in EVERY strategy I teach? Start your journey with a FREE 15-minute demo. You don't want to miss this! Secure your tickets for the most significant tax & legal event of the year: Tax and Legal 360 Curious what my new certification is all about? Learn More Looking to connect with a rock star law firm? KKOS is only a click away! Grab my FREE Ultimate Tax Strategy Guide HERE! Check out our YOUTUBE Channel Here: https://www.youtube.com/markjkohler Craving more content? Check out my Instagram!
President and CEO of the Better Business Bureau of Chicago and Northern Illinois Steve Bernas joins Bob Sirott to talk about misleading and false information about filing taxes on social media and doing research before buying a prom dress. He also discusses an iPhone password scam and how a Naperville business clerk helped a senior citizen to avoid a […]
Delve into the financial intricacies and planning for professional athletes and ultra-high net worth individuals with guest Michael Bapis, a managing director at Rockefeller Capital Management. They explore the importance of endorsements, LLCs, and adapting to the changing landscape influenced by NIL and social media. The discussion covers the crucial role of relationships and trust in managing wealth, the significance of diversification in investment portfolios, and the challenges athletes face when transitioning out of their sports careers. Additionally, they touch upon tax strategies, asset protection, and the necessity of early financial education. The episode provides valuable insights and strategies for managing and growing wealth, emphasizing the importance of having a solid financial plan and a team of trusted advisors. Episode Highlights: 05:25 Building Trust and Relationships in Wealth Management 11:30 The Challenges and Misconceptions of Managing Wealth for Athletes and Entertainers 19:41 Leveraging Personal Brands for Financial Success 20:40 Brand Strategy for Athletes and Entertainers 21:25 Emerging Trends in Sports and Entertainment 22:04 Navigating Financial Planning and Estate Taxes 24:51 Managing Sudden Windfalls: Financial Strategies for Athletes 25:55 The Importance of Structured Loans and Debt Management 27:03 Empowering Financial Literacy and Education 30:52 Risk Management and Asset Protection for High Profile Clients Michael Bapis, Managing Director with Vios Advisors at Rockefeller Capital Management, brings over 20 years of wealth management and private banking to his clients, working with many professional athletes and ultra-high net worth to create financial portfolios that align with long-term goals and optimize their wealth. Michael is a registered NFLPA Financial Advisor and is considered a thought leader in the financial services industry, having regularly appeared on CNBC's Trading Nation and Worldwide Exchange, TD Ameritrade, Bloomberg TV and Yahoo Finance as well as quoted in CNNmoney.com, CNBC.com, Reuters, Financial Planning and Investment News.Connect with Michael: Vios Advisors at Rockefeller Capital Management: https://www.rockco.com/vios-advisors/ Vios Advisors LinkedIn: https://www.linkedin.com/in/vios-advisors-at-rockefeller-capital-management-419027134/ Michael Bapis: LinkedIn: https://www.linkedin.com/in/michael-bapis-23a93127/ Vios Advisors Instagram: https://www.instagram.com/rockefellervios/ Don't just listen to the podcast, it's time to take action and dominate your game!
In this episode of The Dept. Omar talks with Matt Bontrager, about how small business owners and entrepreneurs can strategically set up their business to avoid paying a large tax bill. Matt is a tax advisor/strategist and owner of Truebooks CPA. Many of us feel we are entitled to the more of the money that we earn. Matt drops so many gems in this episode about the right moves to make to save your business more money. If taxes stress you out watch this Episode!
On this week's Money Matters, Scott and Pat start the show by discussing the infamous Wall of Worry, before discussing market resilience in the face of chaotic world events. They then take a call from a Sacramento man who has a complex investment situation, including a need for Roth conversions, followed by a conversation with a retired couple that is travelling throughout the South and who needs tax advice about their multiple qualified plans. Join Money Matters: Get your most pressing financial questions answered by Allworth's CEOs Scott Hanson and Pat McClain live on-air! Call 833-99-WORTH. Or ask a question by clicking here. You can also be on the air by emailing Scott and Pat at questions@moneymatters.com.
Brent chats with Alicyn McLeod about all the bad tax advice circulating on social media. They talk about why it is appealing, though ultimately wrong, and what tax professionals can do to counter it.
In this episode, we are reviewing some advice from hip-hop artists Rick Ross and Waka Flocka have publicly about there support of using trusts to protect assets and to do tax planning.
Brandon Hall's Twitter post: https://twitter.com/bhallcpa/status/1757117679180148949 In the latest episode of the Passive Wealth Strategy Show, host Taylor dives into the critical topic of tax strategies and investing advice, particularly those trending on social media platforms like TikTok. The conversation revolves around a cautionary tale; an investor who lost an IRS tax case from taking misinformed advice online about luxury car deductibles. The episode calls attention to the importance of seeking professional advice when navigating the nuances of real estate tax laws to avoid potential pitfalls. Taylor emphasizes the risks of following trending tax advice without proper guidance by highlighting CPA Brandon Hall's thread about a businessman's tax court misadventure. The episode is enriched with crucial steps about correctly documenting business vehicle deductions, reinforcing the notion that real estate offers tax advantages only when leveraged correctly with the help of a professional.
Software can make it easier for people to file their own taxes, but what if you have a question? Would you trust generative AI to give you the answer? We Meet: H&R Block VP of Technology Aditya Thadani Credits: This episode of SHIFT was produced by Jennifer Strong and Emma Cillekens, and it was mixed by Garret Lang, with original music from him and Jacob Gorski. Art by Anthony Green.
Tuesday Live With John Willis, Nicole Sauce and Agorist Tax Advice. Join me for a group discussion with John Willis of Special Operations Equipment and members of our community and beyond about building the life you choose, current events, building a durable life, community development, business, getting started, health and more. Each Tuesday, we welcome a different guest to tell their story, as well as take your questions live. Featured Event: The Self Reliance Festival, SelfRelianceFestival.com Sponsors: The Self Reliance Festival: SelfRelianceFestival.com https://selfreliancefestival.com/ Tickets: https://selfreliancefestival.com/tickets/ Homestead Apprentice: HomesteadApprentice.com Show Resources Special Operations Equipment Living Free in Tennessee NicoleSauce.com HollerRoast.com AgoristTaxAdvice.com Main content of the show Make it a great week! GUYS! Don't forget about the cookbook, Cook With What You Have by Nicole Sauce and Mama Sauce. Community FreeSteading Group: https://freesteading.com/groups/living-free-in-tennessee/ Mewe Group: https://mewe.com/join/lftn Telegram Group: https://t.me/LFTNGroup Odysee: https://odysee.com/$/invite/@livingfree:b Twitter: @nicolesauce IG: @nicolesauce Facebook: https://www.facebook.com/LivingFreeInTN Resources Membership Sign Up Holler Roast Coffee Harvest Right Affiliate Link
Today's guest is Michael Wiener. Michael Wiener, Partner at Greenberg Glusker in Los Angeles, focuses his practice on structuring real estate and corporate transactions in a tax-efficient manner and providing his clients with creative solutions to complex tax issues. Show summary: In this episode Michael Winer discusses various topics, including 1031 exchanges, California property tax, and partnership tax issues. Michael emphasizes the importance of consulting tax advisors early in the process and having a sophisticated team to handle all aspects of a transaction. He also shares his personal experience as an investor and the complexities of holding real estate through legal entities. The episode provides valuable insights into real estate transactions and tax implications. -------------------------------------------------------------- The 1031 Exchange Challenge (00:04:37) Understanding Taxable Boot (00:08:25) Complex Math in Tenancy in Common (00:09:42) The 11th Hour Panic (00:11:01) Consult Your Tax Advisors Early (00:14:34) Complexities of Partnerships and Separate Exchanges (00:18:59) Passive Investing and Syndication (00:22:00) Negotiating 1031 Exchange in Joint Venture Agreement (00:23:00) Challenges of Distributing Cash from 1031 Exchange (00:23:59) -------------------------------------------------------------- Connect with Michael: Linkedin: https://www.linkedin.com/in/michael-wiener-50a8a73/ Web: https://www.greenbergglusker.com/michael-wiener/insights/. Connect with Sam: I love helping others place money outside of traditional investments that both diversify a strategy and provide solid predictable returns. Facebook: https://www.facebook.com/HowtoscaleCRE/ LinkedIn: https://www.linkedin.com/in/samwilsonhowtoscalecre/ Email me → sam@brickeninvestmentgroup.com SUBSCRIBE and LEAVE A RATING. Listen to How To Scale Commercial Real Estate Investing with Sam Wilson Apple Podcasts: https://podcasts.apple.com/us/podcast/how-to-scale-commercial-real-estate/id1539979234 Spotify: https://open.spotify.com/show/4m0NWYzSvznEIjRBFtCgEL?si=e10d8e039b99475f -------------------------------------------------------------- Want to read the full show notes of the episode? Check it out below: Michael Wiener (00:00:00) - You sell $20 million of real estate that has $10 million of equity. You need to purchase at least $20 million of real estate with at least $10 million of equity, because you also see, some people will say, hey, well, I purchased the $20 million of real estate. I got a $12 million loan, and I just cashed out $2 million. And yeah, no, you did. That's great. But. It's taxable boot. Intro (00:00:27) - Welcome to the how to Scale commercial real estate show. Whether you are an active or passive investor, we'll teach you how to scale your real estate investing business into something big. Sam Wilson (00:00:40) - Michael Winer, a partner at Greenberg in Los Angeles, focuses his practice on structuring real estate transactions in a tax efficient manner and providing his clients with creative solutions to complex tax issues. Michael, welcome to the show. Michael Wiener (00:00:54) - Thank you very much for having me, Sam. I'm really excited to be here. Sam Wilson (00:00:58) - Absolutely. The pleasure is mine. Michael. There are three questions I ask every guest who comes on the show in 90s or less. Sam Wilson (00:01:04) - Can you tell me where did you start? Where are you now? And how did you get there? Well. Michael Wiener (00:01:10) - About ten years ago, I had my own firm. I was, uh, or just starting my own firm, um, doing some 1031 work, I. Wound up, uh, seeing an ad on the internet. I don't even remember what I was searching for. For an attorney to join a tax boutique in Century City here in LA. So I responded to the ad. Turned out it was a 1031 exchange specialty, um, firm. And, you know, basically based on my practice and some of the clients I was doing work for, we knew a number of people in common. Um, so I wound up joining that firm. It was a four person firm. A few years later, that firm was acquired by a slightly larger firm, and then that firm was in turn acquired by a larger firm. Um, and throughout it, I have to say, I'm really grateful my, uh, my traditional client base stuck with me throughout all the, uh, throughout all the firm uprisings. Michael Wiener (00:02:15) - Um, and then from the larger firm, which was one of the largest firms in the world, um, I transitioned my practice with, uh, one of my partners and colleagues who have been with me since the, uh, since the smaller firm over here to Greenberg Luster, which was a, um, which was a better fit. I'd worked alongside Greenberg Lustgarten deals, both co-counsel and adverse for many years a phenomenal firm and, uh, and been here for about four and a half years. And I love every day of it. Sam Wilson (00:02:45) - That's cool. And it's 1031. What you still focus on primarily? Michael Wiener (00:02:51) - Um. Uh, I generally wind up dealing with tax issues related to the real estate industry, and obviously 1031 is a big part of that. The last, you know, four ish years, really, since 2018, qualified opportunity zones have, um, have become a bigger part of that. We also being here in California, we have to deal with prop 13, California property tax, um, and transfer tax issues and then also deal with um partnership partner, excuse me, partnership tax issues related to structuring um, joint ventures and and real estate investments. Michael Wiener (00:03:35) - Um, and that then extends its way out to sort of syndicated tenancies of common and, you know, different ways of investing in real estate and being able to take advantage of all of the wonderful tax benefits of doing so. Sam Wilson (00:03:51) - That gets really complicated really fast. For those of us that want to just go out and buy stuff and own and run real estate projects. You're a great complement to our to our team because the rest of us don't want to think about, you know, probably the things that you think about day in and day out, you know, specializing in this. I can only imagine. No, no, two days are the same would be my guess. Michael Wiener (00:04:14) - Oh, no, two days are the same at all. Um. Sam Wilson (00:04:18) - It's crazy. Michael Wiener (00:04:19) - Every day is a unique challenge, and every day is another opportunity to learn. So what are some things? Sam Wilson (00:04:27) - Let's talk. Let's talk. 1031 because you've touched on several things, and I know any one of these topics, we could probably burn the entire podcast, you know, going down that rabbit trail. Sam Wilson (00:04:37) - But let's let's stay on 1031, because I would imagine that for the bulk of our listeners, that's probably something that is applicable. What what are some common challenges and what are some common misconceptions, maybe that you run into when executing a 1031? Michael Wiener (00:04:55) - Well, the first thing that a lot of people forget about or just don't remember is that in addition to spending all of the money that you get from the sale of your relinquished property, you also have to replace your debt. Sam Wilson (00:05:13) - And. Michael Wiener (00:05:14) - You know, you see people from time to time who say, oh yeah, no, we completed our exchange. We sold a property for, you know, $20 million with $10 million of debt, about a $10 million, uh, property. This is very, let me say, very simplifying the facts. Fact pattern. Um. We bought a property with, um, with the $10 million. And, you know, we got this great deal. We only have to put $2 million, $3 million of debt on it. Michael Wiener (00:05:42) - And we, you know, you know, huzzah! We, uh, we completed our exchange, and it's well known. Yeah. I mean, yes, you did complete an exchange, but you're going to have to. And it's very important to remember that that gets, um, especially tricky in a, uh, uh, tenancy and common context where you have multiple exchanges. Um, investing people, completing multiple exchanges, investing in the same property. And they have to, um, and they have to, you know, satisfy their debt replacement requirements, especially if they had different leverage ratios on their, um, on their up leg. And can wind up with a situation where you may need to invest some fresh cash in order to to equalize it. Sam Wilson (00:06:34) - So let me let me see if if I can summarize what you said, you replace the one of the one of the things that's often overlooked is that you replace the debt and the equity. So if it's a $20 million property that you originally purchased and that was debt and equity, again, let's call it 10 million in debt and 10 million in equity. Sam Wilson (00:06:53) - And then you sell that, you harvest, let's call it it was a breakeven deal. You harvest that 10 million in equity. You can't go out and buy a $12 million property with 10 million in equity and 2 million in debt. Exactly. You got to replace that debt. Michael Wiener (00:07:07) - Well, you can you don't have to replace the debt per se, meaning you can add fresh cash. You have to go basically equal or up in value and equal or up in equity. Right. So, you know, if you you could put in $2 million of your own money, you know, not exchange cash or money that you raised from an investor and then just get an $8 million loan, and that's fine. But too many people overlook that, overlook that aspect of it. Sam Wilson (00:07:38) - And that that is not an aspect of that. I even understood until right now. So not just to many people, but myself as well. Uh, so yeah, that, that that's really it has to be equal or greater. Sam Wilson (00:07:49) - Price point. Intro (00:07:50) - Period. Exactly. Sam Wilson (00:07:51) - Then what you previously. Michael Wiener (00:07:53) - Just if you sell, you know, using our fact pattern, if you sell $20 million of real estate that has $10 million of equity, you need to purchase at least $20 million of real estate with at least $10 million of equity. Because you also see, some people will say, hey, well, I purchased the $20 million of real estate. I got a $12 million loan, and I just cashed out $2 million. And yeah, no, you did. That's great. But. It's taxable boot. Sam Wilson (00:08:25) - Right. And you call it boot b o o t. Michael Wiener (00:08:28) - B o o t is what the term is generally called. Sam Wilson (00:08:32) - Taxable boot. There's a new uh there's a new one. I'm going to put that in my newsletter. Michael Wiener (00:08:37) - That's yeah called um generally defined as sort of money or other non like kind of property that you receive in a 1031 exchange. Sam Wilson (00:08:48) - Right. And so you can do it, it's just you just have to know that whatever portion remains you're just going to get taxed on. Michael Wiener (00:08:54) - Exactly. Sam Wilson (00:08:55) - Right. Okay. And and maybe that's an acceptable, uh, you know, solution for some. You presented another wrinkle there that maybe um, just to again to, to hash it out again, you were talking about maybe, you know, let's use that $20 million example again. We'll see if I can if I can craft this correctly. But I sold that I owned it by myself. And then you sold another $20 million property. And together we were going to go in and buy a $40 million property. Right. But maybe your debt to equity ratio was different than mine was. And somehow you've got to get we can go in as tenants in common buying this now new $40 million property together both 1031 and into a bigger deal. But now we've got to figure out some sort of really complicated math as to how it's all got to work out. Michael Wiener (00:09:42) - Well, like, you know, let's say, you know, we're going to go in and buy a, you know, a $40 million property with 20 million of debt. Michael Wiener (00:09:50) - Um, and we're 50, 50 tenants in common. Right. But my. You know, leverage on my download property was, let's say it was very it was more highly leveraged. Let's say it was, you know, $15 million to just to take sort of an extreme example. Okay. When I go in. Um, to that, you know, $20 million property I have to figure out. Well, am I going to put in more cash? Um, if I do, I can put in cash to equalize it. Right. Uh, um, and, you know, that would be fine, but that requires me to come up with $5 million, you know, outside of, uh, you know, outside of the exchange, and, you know, maybe I can go shake the money tree or something, but, uh, you know, that's easier said than done. Sam Wilson (00:10:42) - Right. And so you help clients when they get into these situations where especially I mean, 1 or 2 is complicated, but I imagine 810 on a much even bigger property than that. Sam Wilson (00:10:51) - Yeah, it becomes a bit of a, uh, yeah, a bit of a process. You have some. Michael Wiener (00:10:55) - Uh, pretty extensive Excel schedules, let's put it that way. Sam Wilson (00:11:01) - Right? Sam Wilson (00:11:01) - I bet you do. I bet you do. And when and when people get into these situations, like, do you find that they come to you at the 11th hour going, oh, crud, we didn't think through this and now we need help. Is that pretty common that happens. Michael Wiener (00:11:16) - That's happened. Um, the you know, the good, the good clients, the, uh, the the clients who I've worked with for a long time, generally by now know to, uh, to get me involved early. But it is, let's just say, not uncommon for, uh, you know, people to come at the 11th hour. And, you know, we had one, you know, just. A year ago that I can think of where, you know, literally a week before closing, we had to restructure significantly the, uh, transaction. Michael Wiener (00:11:52) - Um, the client scheduled it or structured it without tax advice. Um. With three tenants and or they had tax advice but not 1031 advice with three tenants in common. And you know, one was just a fresh cash tenant in common not exchanging one one with one or I guess the other two were exchanging and. Basically I, you know, took a look at it and within three minutes I said, oh, you're going to have, you know, $7 million of boot of taxable boot based off of not replacing your debt. And what we had to do was we wound up having to combine the fresh cash non exchange tenant and tenant in common, make that part of the exchanging tenant in common and that using those those numbers allowed it to uh allowed it to work and to get them to satisfy all the requirements. But you're talking about org charts already haven't been given to, um, to a lender. You're talking about documents already having been drafted and signed and having to go back to people and saying, well, you know, you were going to invest because for the people who are investing in the what I'm going to call fresh cash tenant and common. Michael Wiener (00:13:15) - There are, you know, a set of expectations with regards to your depreciation and outside basis in your joint venture. And these are technical terms I know, but uh, but um, there are certain let's call it tax expectations that. You would expect to have when you are investing in, um, a non exchanging entity just in a straight real estate deal, in a straight real estate syndication. And those things change a bit when you're, uh, when you're coming into an entity, when you're coming into an existing partnership that is competing with 1031 exchange, there are different issues that you need to be mindful of. And and they can be worked out. But, you know, people need to be aware of them. And people need and, um, documents need to, you know, need to address them and reflect them. And, um, you know, doing all of that a week before closing is, you know, lots of fun. Uh. Sam Wilson (00:14:20) - So is that what they call it? Michael Wiener (00:14:22) - I would, um, I would strongly encourage people to, uh, to if you're doing a 1031 exchange, consult your tax advisors early. Sam Wilson (00:14:34) - Consult them early. Absolutely. Michael Wiener (00:14:35) - And especially early and early and often I would say. Right. Sam Wilson (00:14:40) - And I would think, you know, on a single property, single investor, it's pretty it's pretty cookie cutter. Michael Wiener (00:14:47) - Well, yeah, when. Sam Wilson (00:14:48) - You get into stuff like this, the complication factor just rises, uh, you know, dramatically. So that's, that's really, really interesting. And how, how do you feel like when you're going back and dealing with legal? Because I mean, at this point, I imagine in this particular scenario, talking about like you're getting legal on the phone, you're getting everybody on the phone to go back and start redrafting all of this paperwork and making appropriate changes. How how is that interaction with, I guess, on the on the legal side of things like, is that a complicated or is that or is that a sticking point for you guys in your business, where sometimes the legal side doesn't understand what you guys understand on the tax side? Or how does that, uh, how does that work out for you? Michael Wiener (00:15:29) - I mean, and that's an important, uh, an important point is that the clients need to have for these types of more, you know, sophisticated deals. Michael Wiener (00:15:39) - You need to have a sophisticated team all around. And that means, you know, both tax and legal. So, so that when, you know, we go and we tell the legal team, well, this is what needs to be in the operating agreement. Um, and we get it back for review. That's actually in the operating agreement. They understand what we mean. They understand what concepts we're talking about, and they know how to draft those provisions. Um, and, you know, if need be, then I will go in and, you know, draft those provisions or correct them as necessary. Um, you know, as, as tax attorneys, we still do a lot of drafting. Sam Wilson (00:16:21) - I bet you do. That's really cool. I love to hear the nuanced layers to things that are, I think, generally seen as pretty cut and dry, such as the 1031. It's generally like, oh, okay, well, we 1031, we bought one or we sold one, and then we bought another one and then we moved on down the line. Sam Wilson (00:16:36) - But there's always, always another layer to, uh, to what it is we're working on. And it sounds like you, you go many layers deeper than what many of us oftentimes see. So anything else on the 1031 front, we should really highlight here that, uh, are things that either people get wrong, should be preparing for earlier, or are misconceptions anything else you want to hit on that front? Michael Wiener (00:16:59) - Well, yeah. I mean, I think when people hold real estate through a legal entity, through an LLC, through a through a partnership, and if worse, through a corporation. Um, I'll get to that in a second. Uh, you need to people need to understand that it is that legal entity. It is the, you know, if you have a, um, so just by way of background, if you have a, a multi-member limited liability company, it is by default treated as a partnership for tax purposes. For tax purposes, if you have a single member LLC, it is by default treated as, um, treated as a disregarded entity for income tax purposes. Michael Wiener (00:17:42) - In either case, you can elect to have that entity treated as a corporation for income tax purposes. That's very rare in the real estate, uh, industry. Um, but occasionally you see it. Um, and but the important thing is that it's that entity that is doing the exchange. So you have a concept called the same taxpayer principle, which I know, um, has been discussed on your show before. Uh. Which says that the. The legal, the tax entity, the entity for tax purposes. The taxpayer that sold the download property needs to acquire the uploaded property. And where that becomes tricky is where you have partners who want to go their separate ways. You know, they had a good run on the last deal, but now they say, well. We, um. We want to. We don't want to be together on the next deal. So to take, you know, the exact one or riff off of the example we were using. You know, you and I are 50, 50 members of an LLC that is taxed as a partnership. Michael Wiener (00:18:59) - And, uh, we had a really good run, and we, you know, our our property did very well. And now we're going to sell it and say, okay, well what are we going to buy next? And, you know, I say, well, I want to go into industrial. You say, no, I want to go into multifamily or for any or, you know, occasionally you have people that just don't like each other. So I don't think that would happen with us. But, uh, um, uh, you know, for various reasons, there are any one of a number of reasons why, when they're selling the property, that people don't want to be committed to investing in the next property together and structuring those types of exchanges is very complicated. And it can be done. It can be done. There are several different structures and several different alternatives. Um, I can get into them if you'd like, but, uh, somewhat technical. Um. But that also requires consulting your tax advisors early and often. Sam Wilson (00:20:03) - Right? No, I can only. And maybe even isn't for reasons. You know, it's not like the partnership fell apart. Maybe you, Michael, just don't want to. You don't like the property that we're 1030 running into or. Michael Wiener (00:20:14) - Yeah, I mean. Exactly. Sam Wilson (00:20:15) - You want to do something else, like. Well, you know that that was fun. We had a great run, but I really don't want to move on with the next ones. And now we got to figure out a way to, uh, for, say, or in. Michael Wiener (00:20:24) - Some instances or in some instances, you know, let's say I had inherited my partnership interest in our thing and our LLC. And I say, well, because I inherited it, I have a stepped up tax basis. I'm not going to pay any tax on a sale. Right. I want to sell for cash. Right. Um hmm. Sam Wilson (00:20:44) - Yeah. And that opportunity to get that stepped up cash out basis isn't going to happen once you 1031 to the next property. Michael Wiener (00:20:52) - Exactly. Sam Wilson (00:20:53) - It's got to happen now, right? That's interesting. I hadn't thought about that. Michael Wiener (00:20:59) - I mean, so there are, you know, there are these situations which we deal with every day and there are about, you know, 20,000 different variations of these, uh, um, that we deal with every day. And, uh, and, um, you know, it's very, you know, it's very challenging. It requires a lot of cooperation. It's sort of like a, uh, you know, a three legged race, probably the ultimate three legged race you need to get, you know, you feel almost like a, uh, like a symphony, like conductor. You're like, okay, now I know you're doing this, now you're doing that. I know you're moving gear. Everybody needs to like, you know, move in concert. The documents. Um, and there are a lot of documents on these deals need to all be, you know, consistent. And then when it comes to filing the tax returns, tax returns need to be filed in a, uh, way. Sam Wilson (00:22:00) - I didn't even think about that. So there's. I'll give you an example. I was I was a passive investor in a. This is probably more relevant to our listeners in a syndication. I was a passive investor in a syndication, and the deal went full cycle in like, I don't know, 12, 14 months. I mean, it was it was great. Everybody doubled their money, loads of fun. And so they said, hey, you know what? We should we should 1031 this entire syndication into the next deal. Except there were some of us that were like, ah, you know, I don't need to I don't like the Nick. And I in my case, I was one of those people said, I don't want to like the next deal, and I don't want a 1031. And I was an investor through a retirement account into that syndication. So I really don't care if I. 1031 it's it's a zero tactical advantage or tax advantage to me. And so that was really interesting. Sam Wilson (00:22:50) - And again, I got to sit in the sidelines and kind of just watch it. You know, I just said, no, I don't want a 1031. And then of course, you know, I don't know the volumes of, of documents and paperwork and. Michael Wiener (00:23:00) - No, but you know, what winds up, you know, what winds up happening as well there there are a few practical, uh, you know, points there. Most indications the syndicator is not going to give you the option. Right. Sam Wilson (00:23:15) - They're going to say, you know, we are. Michael Wiener (00:23:16) - Going to, uh, you know, we are going to. 1031 if it's something that you think you may want to do or may want to have the right to. It's important to start talking about that early, early, early, early in the process. Um, uh, because then you can negotiate things into your joint venture agreement. That will allow that. And the challenge, um, is that, you know, once the money, once the cash from the sale goes into the 1031 exchange accommodation account, and, you know, to some extent even before then, it's really in a lockbox. Michael Wiener (00:23:59) - You can't use it to just, you know. I remember a one time appliance said, oh, and if we need more money for that, we'll just pull money out of the accommodate our accountant. I said, oh no, you won't. Sam Wilson (00:24:11) - Um. Michael Wiener (00:24:12) - Uh, first, most any accommodating that's, you know, really worth it won't let you. Right. Um. And even if they would. As your tax advisor, I wouldn't let you. Right. Sam Wilson (00:24:27) - Right. No. Sam Wilson (00:24:27) - Because then you negate all of the potential savings of even doing the 1031. Michael Wiener (00:24:33) - You would blow your 1031 exchange. So you have to come up with a way. And there are ways of, um. You know, generating that cash. Sometimes it's they find another person to come and buy you out, and that person is going to take your place in the partnership. Uh, sometimes there is a, uh, a, um, a strategy that's used where the exchange of commentator will issue in a, in installment note, a promissory note to the partnership that is doing the, uh, the 1031 exchange. Michael Wiener (00:25:10) - And the partnership can distribute that out to, um, to the investor that is being redeemed. If you're able to and you're able to do this on time, namely, before you really get into negotiating a purchase agreement, you can create a tenancy and common structure where the people who don't want to do their 1031 exchange get redeemed from the partnership in exchange for tenancy and common interest in the property. And they then sell the property, um, you know, in a taxable sale and, uh, and the, um, the people that are doing the exchange continue to just exchange. Sam Wilson (00:25:47) - And I'm pretty sure that was what happened. It's been a few years, so I don't remember the specifics of it, but I'm pretty sure I do remember seeing something about ticks in there and some other things. And. It all worked out really well. Uh, but it was it was certainly interesting to see from the sidelines. We got about 60s left here. Michael. And I did want to get your thoughts on this real estate held in a corporation. Sam Wilson (00:26:06) - You kind of gave a an indication that that was bad. Uh, break that one down for me if you can. Michael Wiener (00:26:13) - Well, so first, there are just obviously two types of corporations for tax purposes. There's a C corporation and an S corporation. A C corporation is taxed as a separate person. So it pays a tax. And then when it distributes money, the investors or shareholders pay tax on what's called a dividend or a distribution. Um, an s corporation, the uh, the, the tax flows through to the shareholder. So you might say, well, how is an s corporation different than a tax partnership. That's also a flow through entity. And there are two primary differences. And that are important when it comes to real estate. The first is that. In, uh, in a tax partnership, let's say you and I put in $1 million into an LLC, and the LLC borrows, you know, $8 million, and we buy a $10 million property. We have a $10 million between us. Michael Wiener (00:27:18) - Taxable basis each, a $5 million taxable basis. And we can take depreciation deductions on that for 5 million, including our share of the debt. If we were shareholders in an S corporation, we would not get basis for that share of the debt. So we would not be able to get deductions passed through to us on that 4 million, only on our 1 million. The second problem with corporations is that when you distribute appreciated property out of a corporation, it's treated as a taxable sale by that corporation. So these types of structures I'm talking about where people want to do different exchanges and create tenancy in common structures, or do or do anything that's really not possible with real estate held in a corporation. Because when you distribute that real estate out of the corporation, it's treated as though the corporation had a taxable sale of that real estate. Sam Wilson (00:28:18) - That is interesting. I wish we had more time to dig into that. I've got lots of questions on that front. Michael, it has been a pleasure having you on the show today. Sam Wilson (00:28:25) - If our listeners want to get in touch with you or learn more about you, what is the best way to do that? Michael Wiener (00:28:29) - Go to Greenberg, glasgow.com. Um, you can email me at M Weiner. Weiner at gofundme.com or um, you can find my phone number on the website. I apologize, I don't remember what it is off the top of my head. Sam Wilson (00:28:48) - No problem at all. We'll make sure we include all of that there in the show. Notes. Michael, thank you again for coming on today. I do appreciate it. Sam Wilson (00:28:54) - Absolutely. Thank you very much for having me. Sam Wilson (00:28:56) - Hey, thanks for listening to the How to Scale Commercial Real Estate podcast. If you can do me a favor and subscribe and leave us a review on Apple Podcasts, Spotify, Google Podcasts, whatever platform it is you use to listen. If you can do that for us, that would be a fantastic help to the show. It helps us both attract new listeners as well as rank higher on those directories. So appreciate you listening. Sam Wilson (00:29:18) - Thanks so much and hope to catch you on the next episode.
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