Podcasts about tax code

Bob Kerr returns to break down his Tax Notes article on the IRS's Centralized Authorization File, the decades-old system that processes Forms 2848 and 8821 almost entirely by hand, now buried under 7 million forms a year at roughly 500 staff years and $50 million to run. He, Roger, and Annie get into why the backlog keeps growing, how practitioners can get ahead of it by putting 8821s on file early, and why transcripts belong in your current-year filing, not just your representation work.SponsorsPadgett -  Contact Padgett or Email Jeff PhillipsGet NASBA Approved CPE or IRS Approved CELaunch the course on EarmarkCPE to get free CPE/CE for listening to this episode.Read Bob's Article https://www.taxnotes.com/tax-notes-federal/practice-and-procedure/high-costs-irss-centralized-authorization-file-system/2026/04/06/7vjccChapters(00:00) - Welcome and Setup (02:36) - Why CAF Matters Now (06:54) - CAF Explained POA vs TIA (10:42) - Choosing 8821 vs 2848 (13:46) - Backlogs and Real Impacts (15:45) - Manual Processing Volume Surge (18:54) - Million Hours and 50M Cost (21:23) - Deadlines Snowball Effect (24:01) - CAF Volume Spiral (24:59) - Early Transcripts Benefits (28:33) - Client Use Cases (30:27) - Why IRS Can't Keep Up (39:13) - Train Clients and Set Expectations (43:33) - Transcripts Beyond Representation (44:32) - VITA Volunteering Insights (48:56) - Wrap Up and Thanks Follow the Federal Tax Updates Podcast on Social Mediatwitter.com/FedTaxPodfacebook.com/FedTaxPodlinkedin.com/showcase/fedtaxpodConnect with the Hosts on LinkedInRoger HarrisAnnie SchwabReviewLeave a review on Apple Podcasts or PodchaserSubscribeSubscribe to the Federal Tax Updates podcast in your favorite podcast app!This podcast is a production of Earmark MediaThe full transcript for this episode is available by clicking on the Transcript tab at the top of this pageAll content from this podcast by SmallBizPros, Inc. DBA PADGETT BUSINESS SERVICES is intended for informational purposes only.

Kung nagtataka ka kung bakit may kaltas pa ring Withholding Tax sa sahod mo kahit binabawasan ka na ng SSS, PhilHealth, at Pag-IBIG, hindi ka nag-iisa! sahod-bawas na naman ba?

Scott Galloway explains why a national sales tax sounds fair but always hits the wrong people, makes the case for saying less and listening more as a manager, and advises a 25-year-old in London on whether to cut his contract short for love. Want to be featured in a future episode? Send a voice recording to officehours@profgmedia.com, or drop your question in the r/ScottGalloway subreddit. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Learn how you can turn your life insurance policy into a super Roth for retirement. Tom Love is a CEO and financial wealth expert with over 40 years of experience. He walks through the multiplicity of benefits life insurance can unlock not just for the top 1% but for business owners, entrepreneurs, W2, and retirees. We cover the tax advantages, risk mitigation, non-recourse loan benefits, as well as debunking some of the most common talking points against life insurance.Watch the Interview on Youtube for Visuals - https://youtu.be/NABjYZ3BggoConnect with Tom Love: https://www.linkedin.com/in/tom-love/The Breakaway League: https://www.linkedin.com/company/thebreakawayleague/Want to See If Whole Life Insurance Can Improve Your Financial Plan? Schedule Your Clarity Call Here: https://bttr.ly/bw-yt-aa-clarityWant Us To Review Your Permanent Life Insurance Policy? Click Here: https://bttr.ly/yt-policy-reviewWant Free Whole Life Insurance Resources & Education? Go Here: https://bttr.ly/yt-bw-vaultLearn More About BetterWealth: https://betterwealth.comChapters:00:00 - Interview Teaser and Introduction to "Super Roths" and Life Insurance 01:54 - Communicating the "Why" and Selective Clientele 02:35 - Wealth Strategies Within the Tax Code 04:18 - Tax-Free Income vs. Tax-Exempt Cash Flow 06:05 - Hidden Debt of Retirement Accounts 09:55 - Mechanics of Non-Recourse Loans 11:40 - The 1990 GAO Report and Tax Exemption 15:52 - Breakaway League and Better Communication 21:11 - Problem with Collateralizing Retirement Plans 25:23 - Case Study: A Billionaire's Insurance Strategy 28:55 - Real-World IRS Audit Story 30:53 - Permanence of the Tax Code and Section 7702 33:13 - The Mount Everest Analogy for Financial Planning 38:43 - Practicality: Taking Loans in Real Life 41:40 - Whole Life vs. IUL and Mutual Companies 44:46 - Warren Buffett and the Life Settlement Market 47:35 - The Conflict of the Fiduciary Registration 50:39 - Debating PUA Riders and Policy Design 54:44 - The Cons and Risks of Life Insurance 57:22 - Collateral Capacity in Real EstateDISCLAIMER: 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.

Listen and subscribe to Money Making Conversations on iHeartRadio, Apple Podcasts, Spotify, www.moneymakingconversations.com/subscribe/ or wherever you listen to podcasts. New Money Making Conversations episodes drop daily. I want to alert you, so you don’t miss out on expert analysis and insider perspectives from my guests who provide tips that can help you uplift the community, improve your financial planning, motivation, or advice on how to be a successful entrepreneur. Keep winning! Two-time Emmy and three-time NAACP Image Award-winning television Executive Producer Rushion McDonald interviewed Michael Uadiale. A seasoned CPA and master tax advisor with 25+ years of experience, discussing how entrepreneurs can use strategic tax planning to accelerate wealth building and achieve financial freedom within 5–7 years. He introduces his trademarked DECIDE Framework, explains why most small business owners overpay taxes, and breaks down strategies such as employing children, capturing appreciation, digital asset taxation, and multigenerational wealth planning. Rushion plays the voice of the everyday entrepreneur—curious, intimidated by taxes, and eager to understand wealth strategies—while Michael emphasizes empowerment through education, intentional planning, and knowing the rules of the tax code.

Listen and subscribe to Money Making Conversations on iHeartRadio, Apple Podcasts, Spotify, www.moneymakingconversations.com/subscribe/ or wherever you listen to podcasts. New Money Making Conversations episodes drop daily. I want to alert you, so you don’t miss out on expert analysis and insider perspectives from my guests who provide tips that can help you uplift the community, improve your financial planning, motivation, or advice on how to be a successful entrepreneur. Keep winning! Two-time Emmy and three-time NAACP Image Award-winning television Executive Producer Rushion McDonald interviewed Michael Uadiale. A seasoned CPA and master tax advisor with 25+ years of experience, discussing how entrepreneurs can use strategic tax planning to accelerate wealth building and achieve financial freedom within 5–7 years. He introduces his trademarked DECIDE Framework, explains why most small business owners overpay taxes, and breaks down strategies such as employing children, capturing appreciation, digital asset taxation, and multigenerational wealth planning. Rushion plays the voice of the everyday entrepreneur—curious, intimidated by taxes, and eager to understand wealth strategies—while Michael emphasizes empowerment through education, intentional planning, and knowing the rules of the tax code.

Send us Fan MailThink taxes are just numbers on a spreadsheet? Think again.In this episode of Unlimited with Elisabeth Carson, Elisabeth sits down with tax strategist and entrepreneur Julio Gonzalez to expose the financial secrets most business owners never learn — including why small businesses often pay dramatically more in taxes than major corporations, how grants are hiding in plain sight, and the reason so many entrepreneurs are unknowingly leaving money on the table.But this conversation goes far beyond taxes.This episode is about resilience, awareness, entrepreneurship, redemption, and learning how to stop playing small financially.If you're an entrepreneur, business owner, single parent, startup founder, or someone trying to create a better future, this conversation could completely shift your perspective.TEXT “GRANTS” TO 26786to learn about grants and funding opportunities available for businesses and entrepreneurs.Follow Julio Gonzalez:Tax Reform Expert on social mediaWebsite: Engineered Tax Services✨ Follow Me or Join the Journey:

Roger and Annie catch up on everything that shifted while practitioners were buried in returns: a leaner, digital-first IRS under new CEO Frank Bisignano, a bumpy phase-out of paper checks, and stricter e-file matching that tripped up routine returns. The Kwong decision has handed taxpayers a hard July 10 deadline to claim refunds on COVID-era penalties and interest, with new ERC extension options and a possible conservation easement settlement adding to the summer to-do list.SponsorsPadgett -  Contact Padgett or Email Jeff PhillipsGet NASBA Approved CPE or IRS Approved CELaunch the course on EarmarkCPE to get free CPE/CE for listening to this episode.Links mentioned in this episodeChapters(00:00) - Welcome Back From DC (01:01) - What We Heard In Washington (01:52) - Busy Season Takeaways (04:08) - IRS Digital Transformation (07:57) - CAF Delays And Practitioner Pain (09:46) - Online Accounts And ID Verification (15:09) - Paper Checks Phaseout Confusion (21:15) - Efile Rejections And Fraud Filters (22:58) - Trump Accounts And State Conformity (27:27) - New Developments The Kwong Case (29:47) - What Kuang Covers (35:09) - Practitioner Duty to Notify (38:51) - Processing Delays and Proof (42:21) - ERC Extra Time Request (44:29) - Easement Penalties and Settlement (49:13) - Action Items and IRS Forums (53:52) - Wrap Up and Next Episodes Follow the Federal Tax Updates Podcast on Social Mediatwitter.com/FedTaxPodfacebook.com/FedTaxPodlinkedin.com/showcase/fedtaxpodConnect with the Hosts on LinkedInRoger HarrisAnnie SchwabReviewLeave a review on Apple Podcasts or PodchaserSubscribeSubscribe to the Federal Tax Updates podcast in your favorite podcast app!This podcast is a production of Earmark MediaThe full transcript for this episode is available by clicking on the Transcript tab at the top of this pageAll content from this podcast by SmallBizPros, Inc. DBA PADGETT BUSINESS SERVICES is intended for informational purposes only.

In this episode, Loral breaks down how entrepreneurs legally activate the tax code through real businesses with real revenue. She explains the difference between losses on revenue versus taxes, why the IRS requires profit intent, and what causes businesses to get flagged.Loral also shares why businesses don't need massive profits to activate the tax code, but they do need legitimate revenue, effort, and structure. The conversation explores transitioning from “write-off businesses” into real operating companies that create tax advantages, wealth-building opportunities, and long-term financial freedom.If you've ever wondered how entrepreneurs legally reduce taxes while building legitimate businesses, this episode offers practical insight into how to activate the tax code the right way.Loral's Takeaways:Understanding Business Losses and Tax Implications (00:00)Transitioning to a Real Business and Passive Income (01:29)Alternative Investment Strategies and Tax Benefits (03:05)Scheduling and Next Steps (04:06)Meet Loral Langemeier:Loral Langemeier is a money expert, sought-after speaker, entrepreneurial thought leader, and best-selling author of five books.Her goal: to change the conversations people have about money worldwide and empower people to become millionaires.The CEO and Founder of Live Out Loud, Inc. – a multinational organization — Loral relentlessly and candidly shares her best advice without hesitation or apology. What sets her apart from other wealth experts is her innate ability to recognize and acknowledge the skills & talents of people, inspiring them to generate wealth.She has created, nurtured, and perfected a 3-5 year strategy to make millions for the “Average Jill and Joe.” To date, she and her team have served thousands of individuals worldwide and created hundreds of millionaires through wealth-building education keynotes, workshops, products, events, programs, and coaching services.Loral is truly dedicated to helping men and women, from all walks of life, to become millionaires AND be able to enjoy time with their families.She is living proof that anyone can have the life of their dreams through hard work, persistence, and getting things done in the face of opposition. As a single mother of two children, she is redefining the possibility for women to have it all and raise their children in an entrepreneurial and financially literate environment.Links and Resources:Ask Loral App: https://apple.co/3eIgGcXLoral on Facebook: https://www.facebook.com/askloral/Loral on YouTube: https://www.youtube.com/user/lorallive/videosLoral on LinkedIn: https://www.linkedin.com/in/lorallangemeier/Money Rules: https://integratedwealthsystems.com/money-rules/Millionaire Maker Store: https://millionairemakerstore.com/Real Money Talks Podcast: https://integratedwealthsystems.com/podcast/Integrated Wealth Systems: https://integratedwealthsystems.com/Affiliate Sign-Up: https://integratedwealthsystems.com/affiliatesThanks for listening!Thanks so much for listening to our podcast! If you enjoyed this episode and think that others could benefit from listening, please share it using the social media buttons on this page.Do you have some feedback or questions about this episode? Leave a comment in the section below!Subscribe to the podcastIf you would like to get automatic updates of new podcast episodes, you can subscribe to the podcast on iTunes or Stitcher. You can also subscribe from the podcast app on your mobile device.Leave us an iTunes reviewRatings and reviews from our listeners are extremely valuable to us and greatly appreciated. They help our podcast rank higher on iTunes, which exposes our show to more awesome listeners like you. If you have a minute, please leave an honest review on iTunes.

Subscribe to The M.O.R.E. Show Most real estate investors are leaving massive tax savings on the table and they don't even know it. In this episode of The M.O.R.E. Show, Justin Colby sits down with tax strategist and real estate investor Karlton Dennis to break down how the tax code can legally reduce what you owe to near zero, why gas stations are one of the most overlooked investment vehicles for depreciation, and how cost segregation and bonus depreciation are the tools wealthy investors use that most people never hear about. KEY TOPICS COVERED: Why gas stations depreciate in 15 years vs 27.5 for residential, and what that means for your tax bill Cost segregation and bonus depreciation explained for real estate investors How to invest as a limited partner and earn passive income without operational risk The real estate professional status strategy and why it changes everything Entity structure, S-Corps, and how business owners can legally reduce taxes Estate planning: revocable vs irrevocable trusts and protecting wealth across generations Key Moments: 00:00 — Why Carlton invested with Grant Cardone as a limited partner 01:12 — Introduction: Karlton Dennis, tax strategist and real estate investor 02:08 — What Carlton is investing in right now in 2026 02:52 — Why gas stations are a powerful tax strategy 03:10 — Cost segregation and bonus depreciation explained 07:00 — Real estate professional status and passive income 12:00 — S-Corps, entity structure, and tax reduction for business owners 20:00 — How to use real estate to offset W-2 income 30:00 — Estate planning: trusts, capital gains, and generational wealth 40:45 — Karlton's book: The Art of Legal Tax Avoidance 42:27 — How to connect with Karlton Dennis Connect with Karlton Dennis: Instagram: @Karltondennis Book: The Art of Legal Tax Avoidance, Volume 1 — available on Amazon About The M.O.R.E. Show: The M.O.R.E. Show is hosted by Justin Colby and is dedicated to helping real estate professionals, investors, and entrepreneurs maximize opportunity in any market. New episodes every week. Learn more: www.timeformore.com Invest with Elevest Capital: www.elevestcapital.com Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

LISTEN and SUBSCRIBE on:Apple Podcasts: https://podcasts.apple.com/us/podcast/watchdog-on-wall-street-with-chris-markowski/id570687608 Spotify: https://open.spotify.com/show/2PtgPvJvqc2gkpGIkNMR5i WATCH and SUBSCRIBE on:https://www.youtube.com/@WatchdogOnWallstreet/featured  Jeff Bezos delivered a blunt defense of wealth creation, entrepreneurship, and economic growth in a wide-ranging CNBC interview. From criticizing government waste and the tax code to pushing back on anti-billionaire rhetoric from figures like Alexandria Ocasio-Cortez and Elizabeth Warren, Bezos argued America doesn't have a revenue problem — it has a spending problem. He also defended innovation, Amazon's impact on jobs, and why economic growth isn't a “finite pizza” the government has to divide up.

Tax is one of the hardest places to earn trust with AI. The work is complex, the stakes are personal, and being mostly right is not good enough.In this episode of The Tech Trek, David Kang, founder and CEO of Keeper, explains how his team is applying AI to tax workflows without pretending humans disappear from the process. He breaks down why tax is such a strong fit for language models, where AI can reduce manual review, how Keeper decides when a case needs human escalation, and why the best products may feel less like autonomous agents and more like systems that make experts sharper.Key Takeaways• AI is most valuable when it removes repetitive work while preserving human judgment where risk is highest.• High trust products need clear escalation logic, especially when edge cases drive most of the anxiety.• Tax is a strong fit for AI because much of the work involves language, rules, validation, and workflow routing.• The smartest AI adoption often starts with bounded operational tasks before moving into more domain specific decisions.• Consumer trust in AI can change quickly, but messaging still matters when the product sits inside sensitive workflows.Highlights00:34 Where Keeper fits for people who have outgrown DIY tax software but do not need a traditional personal accountant.02:27 Why tax may be one of the more practical use cases for AI, even in a high stakes environment.07:15 The accounting talent shortage, what automation may replace, and how roles could shift.10:55 How Keeper uses AI before professional review to flag possible issues and optimization opportunities.13:51 Why the company moved from keeping AI in the background to talking about it more directly.17:58 How Keeper separates the routine parts of a tax return from the parts that need expert attention.21:05 The path from simple customer support automation to more advanced tax focused AI workflows.One Line That Stuck“Across tens of thousands of returns and clients, you can kind of get to the point where you err on the side of safety.”Follow The Tech Trek for more conversations with founders, operators, and technical leaders building through the next wave of AI, data, and engineering change.

Core ConceptThe tax code favors real estate investors by designPost‑1986 tax rules intentionally incentivize buying, improving, and holding real estate because it creates jobs, economic activity, and a stronger tax base.Wealthy investors often invest in deals primarily for tax benefits, not just for cash flow.Most investors use a basic, suboptimal “W‑2 style” approachCollect rent → deduct expenses → pay tax on what's left (Schedule E).Use straight‑line depreciation (27.5 years residential, 39 years commercial).Occasionally do a 1031 exchange, but still eventually pay large capital gains and recapture.This leaves a lot of tax advantage on the table.Four key tax pillars for real estate investorsDepreciation (Pillar 1)Non‑cash “paper loss” that offsets real income.Only the building and improvements depreciate, not land.Example: $1M commercial building straight‑line over 39 years ≈ $25k+/year in deductions.Cost Segregation (Pillar 2)Engineering study separates components (HVAC, finishes, site work) into 5/7/15‑year schedules instead of 39‑year.Enables accelerated and bonus depreciation—much larger deductions in early years.Example: $1M building can create $200k–$300k+ in year‑one deductions vs. ~$25k with straight‑line.Tyler's example: $485k office → about $120k year‑one depreciation using cost seg.1031 Exchanges (Pillar 3)Sell a property, roll proceeds into like‑kind real estate, and defer capital gains + depreciation recapture.Must:Identify replacement within 45 days.Close within 180 days.Use a Qualified Intermediary.Allows a multi‑deal compounding engine: keep equity working, reset depreciation on each new asset.Example: Land bought at $618k, sold for $1.575M (~$900k gain). 1031 avoided $200k+ in taxes and rolled all equity into a new, cash‑flowing deal.Borrowing Against Appreciation (Pillar 4)Use cash‑out refis to pull equity tax‑free (loan proceeds ≠ taxable income).Keep the asset, keep the income, access liquidity, and avoid triggering capital gains.Over time, combined with 1031s, this supports long‑term wealth building and legacy planning.Generational wealth & step‑up in basisIf an investor 1031s repeatedly and has large embedded gains, when they die, heirs get a stepped‑up basis.Result: decades of capital gains can be effectively erased for heirs (no capital gains tax on prior appreciation at death).Strategic takeaway: You need the right tax teamA real estate‑focused CPA/tax strategist is critical—many general CPAs:Don't suggest cost seg.Misunderstand when/why to use it.Tax planning should be proactive and strategic, not just end‑of‑year compliance.Practical investor playbook (how his partner paid ~$0 on $1M+ net income)Stack all four pillars:Ongoing depreciation.Cost seg + bonus depreciation to load losses early.Use 1031 exchanges to keep equity compounding and reset depreciation.Refi to pull cash out tax‑free instead of selling.Result: very high income, minimal federal income tax, fully within the tax code.

Roger and Annie take Federal Tax Updates on the road to the NAEA National Fly-In in Washington, D.C., joined by Tax Notes Federal reporter Ben Valdez and a room full of practitioners ready to talk. The conversation covers the messy rollout of the One Big Beautiful Bill, the paper check-to-direct-deposit transition that left many taxpayers stranded, IRS phone lines that connect but don't solve, and the growing gap between what clients are hearing on TikTok and what their tax pros are actually filing. It's a filing season debrief unlike any other.SponsorsPadgett -  Contact Padgett or Email Jeff PhillipsGet NASBA Approved CPE or IRS Approved CELaunch the course on EarmarkCPE to get free CPE/CE for listening to this episode.Links mentioned in this episodeChapters(00:00) - Live From DC Fly-In (01:12) - Meet Ben Valdez (01:52) - Why Tax Journalism (02:34) - Reporting Complex Tax (03:29) - What Ben Is Watching (04:34) - Annie Recaps Filing (06:55) - Paper Checks Fallout (10:57) - Calling The IRS (13:19) - Audience SSN Credit Trap (15:56) - Standards And Misinformation (18:54) - Expats And International Changes (22:21) - Who Really Benefited (23:59) - Refund Hype Reality (25:26) - Fighting Tax Misinformation (28:03) - VITA Outreach Ideas (30:59) - Two Way IRS Dialogue (34:28) - No Silver Bullet Comms (36:45) - Payments Notices Chaos (38:08) - Phone Help Training Gaps (40:36) - Digital Messaging Future (43:18) - Identity Verification Surge (46:52) - Advisory Committees Value (49:11) - E File Rejections 1065 (51:09) - Final Thanks Wrap Up Follow the Federal Tax Updates Podcast on Social Mediatwitter.com/FedTaxPodfacebook.com/FedTaxPodlinkedin.com/showcase/fedtaxpodConnect with the Hosts on LinkedInRoger HarrisAnnie SchwabReviewLeave a review on Apple Podcasts or PodchaserSubscribeSubscribe to the Federal Tax Updates podcast in your favorite podcast app!This podcast is a production of Earmark MediaThe full transcript for this episode is available by clicking on the Transcript tab at the top of this pageAll content from this podcast by SmallBizPros, Inc. DBA PADGETT BUSINESS SERVICES is intended for informational purposes only.

Veronique de Rugy critiques government-matched savings plans like the "Trump IRA." She argues these technocratic fixes add to the national debt without addressing core tax code flaws. She highlights how high penalties for early withdrawals and payroll taxes effectively discourage lower-income workers from saving for the future. (13/16)1935 NUREMBERG

In this week's episode of Living Off Rentals, we are joined by a tax and credit advisor who has an incredible story of overcoming extreme poverty to become a millionaire and is now helping others understand how to keep more of what they earn. Rondi Lambeth is also a bestselling author and international speaker who focuses on helping entrepreneurs reduce taxes, build business credit, and protect their assets through smart financial structures. Listen as he shares how his upbringing shaped his mindset around money, the hard lessons he learned after his first big tax bill, and the strategies he now teaches to help business owners keep more cash in their pockets.  Enjoy the show! Key Takeaways: [00:00] Introducing Rondi Lambeth and his background [03:00] Getting started with being passionate about helping business owners [06:04] Becoming a millionaire and the shocking tax bill that followed [09:50] The journey from being homeless to becoming a millionaire [13:27] Personal loss that led to starting a credit repair company [16:37] About Tax-Free Wealth [21:08] Where real estate investors should start with tax strategy [23:28] The sacrifical LLC [25:45] Fixing a setup if you already own properties [31:04] Building business credit the right way [42:20] The Augusta Rule explained [46:57] Hiring your kids and other tax-saving strategies [53:53] Connect with Rondi Lambeth [54:39] Outro Guest Links: Website: https://winningthetaxgame.com/  Website: https://rondilambeth.com/  Show Links: Living Off Rentals YouTube Channel – youtube.com/c/LivingOffRentals  Living Off Rentals YouTube Podcast Channel - youtube.com/c/LivingOffRentalsPodcast  Living Off Rentals Facebook Group – facebook.com/groups/livingoffrentals  Living Off Rentals Website – https://www.livingoffrentals.com/  Living Off Rentals Instagram – instagram.com/livingoffrentals  Living Off Rentals TikTok – tiktok.com/@livingoffrentals   

Roger and Annie kick off post-tax season with a checklist of what to do now — from chasing down e-file rejections to evaluating your firm's clients, staff, and workflow while it's all still fresh. They also cover the latest OBBA updates on No Tax on Tips, key IRS filing season stats from the April 15th Congressional hearing, and an urgent reminder about the Kwong v. United States penalty relief deadline that's closer than you think.SponsorsPadgett -  Contact Padgett or Email Jeff PhillipsGet NASBA Approved CPE or IRS Approved CELaunch the course on EarmarkCPE to get free CPE/CE for listening to this episode.Links mentioned in this episodeChapters(00:00) - Welcome to Federal Tax Updates (01:11) - How Filing Season Went (03:22) - E File Perfection Period (05:43) - Avoid Rejection Penalties (06:42) - Post Season Firm Review (09:04) - Staff Clients Tech Tune Up (11:43) - Receivables And Reality Check (14:43) - Extensions And Client Capacity (17:36) - Kwong Case Penalty Relief (22:15) - How To File Form 843 (24:15) - Finding Penalties And Advising Clients (26:23) - Refund Tips Appeal Risk (28:30) - Appeal Or Move On (29:43) - Find Claims And Notify Clients (31:15) - Value Price The Filing (33:10) - No Tax On Tips Update (37:09) - Trump Accounts Stats (39:42) - Refund Credit Goes To Preparers (41:38) - IRS Hearing Highlights (47:10) - Budget Cuts And Tax Gap (52:08) - Wrap Up And DC Teaser Follow the Federal Tax Updates Podcast on Social Mediatwitter.com/FedTaxPodfacebook.com/FedTaxPodlinkedin.com/showcase/fedtaxpodConnect with the Hosts on LinkedInRoger HarrisAnnie SchwabReviewLeave a review on Apple Podcasts or PodchaserSubscribeSubscribe to the Federal Tax Updates podcast in your favorite podcast app!This podcast is a production of Earmark MediaThe full transcript for this episode is available by clicking on the Transcript tab at the top of this pageAll content from this podcast by SmallBizPros, Inc. DBA PADGETT BUSINESS SERVICES is intended for informational purposes only.

S5:E231 David and Paul review the high points of K-1 reporting and the tax implications of deal structures that Angel Investors can  work to their benefit. (recorded 4.13.26)Follow David on X at https://x.com/DGRollingSouthConnect On LinkedIn with David at https://www.linkedin.com/in/davidgrisell/Follow Paul on X at https://x.com/PalmettoAngelConnect On LinkedIn with Paul athttps://www.linkedin.com/in/paulclarkprivateequity/We invite your feedback and suggestions at www.ventureinthesouth.com or email david@ventureinthesouth.com.

Steve Hayes is joined by Mike Warren, Scott Lincicome, and Megan McArdle to discuss our overly complicated tax code and our launch of Dispatch Markets, featuring Scott's latest newsletter. Steve, Megan, and Mike then discuss New York City Mayor Zohran Mamdani's pied-à-terre tax and how the democratic socialist mayor has governed so far.The Agenda:—Donald Rumsfeld's tax letter—The cost of tax compliance—Political will for tax reform—Personal vs. corporate tax complexity—Mamdani's pied-à-terre tax—Economic policy in New York—NWYT: J.D. Vance's small crowdDispatch Recommendations:—Trump Retribution Campaign Threatens to Unravel Indiana GOP—Is Private Credit in Trouble?—The Decline and Fall of Orbánism Show notes: —Megan's podcast Reasonably Optimistic⁠ Learn more about your ad choices. Visit megaphone.fm/adchoices

A final post-script to Deadline Day... The amount we end up paying to Uncle Sam is only part of the story - Just wait until you find out what your taxes truly cost you (at 13:35) --- Around Town: Have you ever tried your hand at disc golf? Findlay Parks and Recreation is giving you the opportunity to 'Try It' this weekend (at 22:42) --- From our family to yours... Another collection of easy spring recipes from Kyra's Kitchen (at 42:40)

What If Wednesday: Tax Code, Dianna Russini, and Joy Behar | 4-15-26See omnystudio.com/listener for privacy information.

It's Tax Day — the one day of the year when millions of Americans collectively ask the same question: Did I pay too much… or too little?But another question quickly follows: Is everyone else paying their fair share?In this episode, we explore one of the most debated topics in economics and politics — the fairness of the U.S. tax system. We examine how income and wealth are taxed differently, look at what the latest IRS data actually shows about who pays federal income taxes, and discuss current policy debates such as proposed wealth taxes.You may be surprised by what the numbers reveal.In the Tips, Tricks, and Strategies segment, we also discuss how reviewing your recently filed tax return can help you make smarter tax planning decisions for the year ahead.Key Topics CoveredTax Day and the Emotional Side of TaxesTaxes are more than numbers — they're emotional. Every election cycle raises the question of whether Americans pay too much or whether certain groups pay too little.Economist Thomas Sowell once joked:“Elections should be held on April 16th — the day after we pay our income taxes.”The quote highlights how differently people view taxation depending on when they're writing the check.Income vs. Wealth: Why They're Taxed DifferentlyA key factor in the fairness debate is that income and wealth are taxed in very different ways.IncomeWages and salaryBusiness incomeTaxed progressively (higher income = higher rates)WealthStocksReal estateBusiness ownershipUsually taxed only when assets are soldBecause wealth is often unrealized, individuals can sometimes access it through borrowing strategies without triggering taxes.The “Borrow, Spend, Die” StrategySome wealthy individuals use what's often called the borrow, spend, die strategy:Borrow against investments rather than selling themSpend the borrowed fundsPass assets to heirs when they pass awayBecause assets may receive a step-up in basis at death, the capital gains taxes can be significantly reduced.This strategy is one reason critics argue the tax code favors asset owners over wage earners.The Warren Buffett ExampleInvestor Warren Buffett famously said that he pays a lower tax rate than his secretary.While statements like this often fuel public debate, they also highlight an important distinction between:Tax ratesTotal taxes paidEven when rates differ, the wealthiest taxpayers still pay very large total amounts of tax.What the IRS Data Actually ShowsThe most recent IRS data (2022) reveals that the federal income tax system is already highly progressive.Top 1%Income: ~$663,000+ AGIAverage tax rate: 26.1%Share of federal income taxes paid: 40.4%Bottom 50%Income: ~$50,000 or lessAverage tax rate: 3.7%Share of federal income taxes paid: 3%Key takeaway:The top 1% earns roughly 22% of income but pays more than 40% of federal income taxes.The Wealth Tax DebateRecent policy proposals — including some state initiatives — have revived discussion about wealth taxes.Supporters argue they would address wealth inequality by taxing large accumulations of assets.Critics argue wealth taxes would require governments to:Value assets every yearAssess taxes on unrealized wealthExpand government oversight into private propertyRegardless of where someone stands politically, the debate reflects a larger issue:The U.S. tax system is complicated, and fairness is difficult to define.Tips, Tricks, and StrategiesConduct a “Tax Post-Mortem”Now that you've filed your taxes, take a few minutes to review your return and ask a few key questions.1. Did You Withhold Too Much?A large refund might feel good — but it means you gave the government an interest-free loan during the year.If your refund was larger than $1,000–$2,000, consider adjusting your withholding.2. Review Your Marginal vs. Effective Tax RateRemember:Marginal tax rate = rate applied to your last dollar of incomeEffective tax rate = your overall average tax rateUnderstanding the difference can help guide decisions like:Retirement contributionsRoth conversionsIncome timing strategies3. Look at Your Adjusted Gross Income (AGI)Review your AGI and see:Which tax bracket you fell intoHow close you were to the next bracketIf you were near a threshold, planning opportunities may exist for future years.Key TakeawayThe fairness of the tax code will always be debated.But instead of trying to solve the national tax system, the most productive step you can take is to focus on your own tax strategy.Better planning leads to better outcomes.And good financial planning always includes tax planning.ReferencesSOI Tax Stats - Individual statistical tables by tax rate and income percentile | Internal Revenue ServiceSummary of the Latest Federal Income Tax Data, 2025 UpdateIf You Enjoyed This EpisodeBe sure to:Follow the podcastShare the episode with someone preparing their taxesLeave a review to help others discover the showThis information is not intended to be a substitute for specific individualized tax or legal advice. We suggest that you discuss your specific situation with a qualified tax or legal advisor.

During a ceremonial bill signing in Columbia on Wednesday, April 15, 2026, S.C. House Ways and Means Chairman Bruce Bannister emphasized that the state's new income tax reform ensures citizens "pay no more than is absolutely necessary". The legislation, H. 4216, simplifies the state tax code by collapsing brackets into a two-rate system: a 1.99% rate for income up to $30,000 and a 5.21% top rate for income above that threshold. Bannister highlighted that the plan not only provides immediate relief—with roughly 42.8% of taxpayers seeing a reduction in liability—but also sets a legal framework to automatically phase the state income tax down toward zero as revenue triggers are met in future years.

Taxes are inevitable—but a broken tax code doesn't have to be.In this episode of This Week's Economy, I take a closer look at how America's tax system affects families, businesses, and long-term economic growth.We discuss why tax complexity matters, how current policies distort decisions, and what reforms could create a simpler, more pro-growth system that helps people prosper.

IRS Stakeholder Liaison Glenn Gizzi returns with a sobering mid-tax-season update: data breaches affecting tax practitioners are already outpacing 2024, with over 206,000 taxpayers potentially compromised — and that's only what's been reported. Roger and Annie dig into why so many breaches go unreported, what a paper return filing means for a client's refund timeline (hint: think late 2027), and why getting every client an IP PIN before the next deadline isn't optional anymore.SponsorsPadgett -  Contact Padgett or Email Jeff PhillipsGet NASBA Approved CPE or IRS Approved CELaunch the course on EarmarkCPE to get free CPE/CE for listening to this episode.Links mentioned in this episodeChapters(00:00) - Tax Season Check In (00:58) - Why Pros Are Targets (03:29) - Breach Stats Rising (05:16) - Reporting And Fallout (06:29) - Paper Return Backlog (09:46) - IP PIN For Everyone (11:41) - Long Term Identity Damage (15:51) - Monitor Your EFIN (16:37) - EFIN Compromise Explained (19:14) - Fast IRS Response Process (23:12) - Top Email Scams Today (27:37) - MFA And Safe Replies (31:24) - Train Your Staff (32:11) - How Breaches Start (33:34) - WISP Reality Check (36:11) - WISP Becomes Law (37:46) - Bank Info Hijacks (40:59) - Stop Refund Fraud Fast (43:16) - Refund Speed Risks (46:28) - IP PIN Protection Plan (51:59) - Stakeholder Liaison Help (57:42) - Closing Security Takeaways Follow the Federal Tax Updates Podcast on Social Mediatwitter.com/FedTaxPodfacebook.com/FedTaxPodlinkedin.com/showcase/fedtaxpodConnect with the Hosts on LinkedInRoger HarrisAnnie SchwabReviewLeave a review on Apple Podcasts or PodchaserSubscribeSubscribe to the Federal Tax Updates podcast in your favorite podcast app!This podcast is a production of Earmark MediaThe full transcript for this episode is available by clicking on the Transcript tab at the top of this pageAll content from this podcast by SmallBizPros, Inc. DBA PADGETT BUSINESS SERVICES is intended for informational purposes only.

The biggest financial event in a farm family's life is often the one they are least prepared for. Mark Balzarini, an estate planning attorney with Helmuth and Johnson in the Twin Cities, has been working on farm succession plans since 2008 and breaks down the tools families need to understand before land changes hands. The centerpiece of this conversation is Tax Code 1062, a provision introduced through the One Big Beautiful Bill that allows farmland owners to defer capital gains taxes over four years rather than paying the full hit at the time of sale. Mark explains who qualifies, what the 10-year agricultural use covenant means for buyers, how it compares to a 1031 exchange and Delaware Statutory Trust, and where the IRS is still building the rules as the statute gets implemented. He also covers the fundamentals of stepped-up basis, contract for deed as a tax mitigation strategy, how LLCs and partnerships interact with succession planning, and why starting a transition plan five to six years early can be the difference between a clean handoff and a painful tax problem. For farm families with farming and non-farming heirs, his advice on keeping things equitable rather than just equal is worth the listen alone. Helmuth & Johnson https://hjlawfirm.com/ Visit National Land Realty https://www.nationalland.com 

Tax Day is right around the corner, and tax strategist Karlton Dennis is here to make sure you don't leave a single dollar on the table. Today he breaks down the legal loopholes that you can still take advantage of before the filing deadline and the long-game moves that can keep thousands in your pocket. Nicole and Karlton cover tax strategies for both W2 employees and entrepreneurs, how parents can use the tax code to build wealth for their kids and new deductions from the Big, Beautiful Bill that you should definitely be taking advantage of. Plus, Nicole and Karlton break down viral hacks like the Range Rover write-off, the Augusta Rule that lets you pay yourself tax-free, short-term rental deductions, and putting your kids on payroll.  Check out Nicole's financial literacy course The Money School  Find a Financial Advisor or Financial Coach from Nicole's company Private Wealth Collective Watch video clips from the pod on Money Rehab's Instagram and Nicole Lapin's Instagram Follow Karlton on Instagram and YouTube Work with Karlton Here's what Nicole covers with Karlton:  00:00 Are You Ready for Some Money Rehab?  02:00 Last-Minute Tax Moves Before the Filing Deadline  02:38 Bonus Depreciation and the Big Beautiful Bill  03:26 The Range Rover Write-Off: How the Math Actually Works  05:26 The Best Part of the Tax Code for Entrepreneurs  07:26 How Karlton Writes Off Clothing 08:38 When Should a Side Hustler Set Up an LLC?  10:45 IRS Red Flags  12:01 What Actually Happens During an IRS Audit  13:28 Why Karlton Thinks of the IRS Like a Dentist  15:09 How to Pay 0% in Income Taxes (And Why That's Not Always the Goal)  17:00 How Elon and Trump Avoid Taxes 18:02 Short-Term Rentals 101 25:35 The Augusta Rule: Pay Yourself $28K Tax-Free  28:28 Why Karlton Is Obsessed with S-Corps  30:19 The QBI Deduction and How to Maximize It  31:26 What to Think About When Forming an Entity  36:35 QSBS: The Exit Strategy That Could Save You $40M in Taxes  40:38 How to Make Your Kids Millionaires   44:53 The Backdoor Roth IRA Explained  46:10 Self-Directed Roths and the Peter Thiel Strategy  49:29 How to Get Tax Breaks for Watching Movies  53:36 The Tax Scam to Avoid Right Now: Charitable LLCs  55:27 Why AI Is Not Your Tax Advisor  50:07 Karlton's Tip You Can Take Straight to the Bank All investing involves risk, including loss of principal. This episode is for informational purposes only and does not constitute financial, investment, or legal advice. Always consult a licensed professional before making financial decisions.

Remember when success was the goal?Not something to explain.Not something to apologize for.Not something to tax into submission.In this Throwback Thursday episode, Chad breaks down how America went from rewarding ambition to resenting it, and how three systems — tax policy, culture, and education — quietly rewrote the deal.This isn't theory.This is a timeline.From post-2008 narrative shifts…To layered tax policy…To a generation taught that success is suspicious…

Dr. Champion shows you how, in the Tax Code, Congress has changed words of which you know the meaning, into “legal terms”, the meaning of which has nothing to do with the English dictionary, common usage, or your understanding of the word! Dave explains how Congress has created ‘fake’ definitions to fool the American people. Dave’s books are at https://drreality.news/store/

Roger sits down with tax controversy attorneys Jessica Marine and Peter Haukebo of Frost Law to unpack a court ruling most tax pros haven't heard of — but probably should act on before July. The Kwong case could mean significant interest and penalty refunds for clients who filed late during the COVID pandemic, and the window to file a claim is closing fast. They also dig into where ERC cases stand now, including why blanket IRS denials are clogging the appeals pipeline and what practitioners should be watching.SponsorsPadgett -  Contact Padgett or Email Jeff PhillipsGet NASBA Approved CPE or IRS Approved CELaunch the course on EarmarkCPE to get free CPE/CE for listening to this episode.Links mentioned in this episodeChapters(00:00) - Welcome and Setup (02:21) - Meet Frost Law Firm (04:34) - Jessica Tax Court Experience (06:23) - Why Tax Controversy Matters (07:10) - Kwong Case Overview (09:43) - Disaster Deadline Rules (11:37) - Refund Claims and Deadlines (14:18) - IRS Response and Strategy (18:27) - Filing Form 843 Right (26:34) - ERC Meets Kwong (30:05) - ERC Audits and Mediation (31:22) - Appeals Backlog Deadlines (32:25) - Why ERC Won't Die (33:57) - PEO Refund Roadblocks (37:03) - Where ERC Litigation Stands (39:19) - IRS Service Breakdown (44:27) - Tariffs Ruling Refunds (49:09) - When to Call Frost (54:43) - New SBA EIDL Collections (55:42) - Tariff Refunds Non Importers (57:52) - Final Thanks Sign Off Follow the Federal Tax Updates Podcast on Social Mediatwitter.com/FedTaxPodfacebook.com/FedTaxPodlinkedin.com/showcase/fedtaxpodConnect with the Hosts on LinkedInRoger HarrisAnnie SchwabReviewLeave a review on Apple Podcasts or PodchaserSubscribeSubscribe to the Federal Tax Updates podcast in your favorite podcast app!This podcast is a production of Earmark MediaThe full transcript for this episode is available by clicking on the Transcript tab at the top of this pageAll content from this podcast by SmallBizPros, Inc. DBA PADGETT BUSINESS SERVICES is intended for informational purposes only.

Over the last 50 years, nearly $79 trillion that could have gone to the bottom 90%…didn't. Where did it go—and what did that cost you? Nick and Goldy are joined by Carter Price, senior mathematician at the RAND Corporation, to break down how rising inequality reshaped wages, growth, and even the federal budget—and why the economy feels so disconnected from everyday life. Because this isn't just about who got richer. It's about what everyone else lost. Carter Price is a Senior Mathematician at the RAND Corporation and Professor of Policy Analysis at the RAND School of Public Policy Social Media: @CarterCPrice Further reading:  Measuring the Income Gap from 1975 to 2023 RAND Budget Model: Groundbreaking insights into the everyday impacts of federal policy Unlocking the Tax Code with RAND's Tax Code Analysis Tool Preliminary Strategies for Reducing the Burden of Federal Debt Impacts of the Retirement Savings for Americans Act Website: http://pitchforkeconomics.com Facebook: Pitchfork Economics Podcast Bluesky: @pitchforkeconomics.bsky.social Instagram: @pitchforkeconomics Threads: pitchforkeconomics TikTok: @pitchfork_econ YouTube: @pitchforkeconomics LinkedIn: Pitchfork Economics Twitter: @PitchforkEcon, @NickHanauer Substack: ⁠The Pitch⁠

“This might be the most important tax year of your life.”In this powerful episode of Inside the Vault, Ash Cash sits down with Billionaire Barbie — tax strategist, entrepreneur, author of Felon Fortune, and founder of Rich Off Taxes University.From running away at 14… to prison… to building a seven-figure empire teaching tax strategy and wealth creation — Barbie shares the blueprint for legally lowering tax liability, leveraging credit, and turning refunds into generational wealth.Inside this episode:• What the new “Big Beautiful Bill” means for taxpayers• Why this could be the biggest refund year in history• The difference between tax avoidance vs tax evasion• How to legally lower your tax liability• No tax on tips & overtime explained• SALT cap increase & new deductions• How to use tax refunds to build business credit• Why credit + taxes = wealth acceleration• Trusts, assets & playing the wealthy person's game• Why execution beats information every timeThis episode isn't about hustling harder.It's about moving smarter.If you don't come from money… money has to come from you.⏱ TIMESTAMPS00:00 – “Pull Out Your GPT & Learn the Tax Code”00:14 – Two Things That Create Wealth: OPM & Taxes00:34 – Stop Blowing Life-Changing Money01:04 – Ash Cash Book CTA02:06 – Welcome to Inside the Vault03:05 – Introducing Billionaire Barbie04:04 – Who Is Billionaire Barbie?05:10 – Why This Tax Year Could Change Everything05:18 – The “Big Beautiful Bill” Explained06:14 – Emotional Politics vs Smart Money Moves07:06 – Taxes = A Loan to the Government08:24 – Record Keeping & Self-Employed Game10:27 – Use GPT to Understand the Tax Code11:00 – Tax Avoidance vs Tax Evasion12:04 – How She Got Into Taxes (COVID Era Credit)13:08 – $5,000 Course → Million Dollar Skill14:31 – Taxes Are a Year-Round Business15:27 – $1,000 Per Day Strategy16:14 – Tax Planning & Charging on Savings17:09 – Why She Built Rich Off Taxes University19:14 – Success Stories: Millionaire Tax Preparers20:23 – Taking Women Out the Strip Club Into Six Figures21:37 – Felon Fortune & Her Reinvention Story23:08 – Running Away at 14 & Prison24:39 – Moving to Hawaii Changed Everything26:29 – $15,000 Grand Opening Day27:27 – Credit & Funding Changed Her Life28:38 – OPM + Taxes = Wealth Blueprint29:18 – How to Turn a Refund Into Funding31:24 – Stop Balling. Start Building.33:26 – Make, Manage & Multiply Money34:32 – Clean Up Your Social Media Habits35:43 – Trusts & Wealth Strategy36:34 – Own Nothing, Control Everything38:00 – Why Mentors Matter41:46 – Information vs Execution43:23 – Success Loves Speed44:18 – No Tax on Tips & Overtime44:34 – SALT Cap Increased to $40,00045:45 – Car Interest Write-Off Explained46:22 – Invest Refunds Into Assets47:41 – “We Print Money” – Options Trading48:14 – Everything Is a Write-Off If Structured Properly49:49 – Spending Smart vs Spending to Impress50:36 – How to Join Rich Off Taxes University51:28 – Leave the Broke Mindset Behind52:22 – Final Words: Change It52:51 – Closing Out the VaultAdvertising Inquiries: https://redcircle.com/brandsPrivacy & Opt-Out: https://redcircle.com/privacy

Roger and Annie check in at the 40% mark of filing season, covering a flurry of legislative activity — from a bipartisan Senate bill that would finally create minimum standards for tax preparers, to new crypto regulatory frameworks and the surprisingly complex mess around car loan interest deductions. They also break down what the IRS CEO told Congress this week, including some filing season stats that are better than expected, and some quality concerns that aren't.SponsorsPadgett -  Contact Padgett or Email Jeff PhillipsGet NASBA Approved CPE or IRS Approved CELaunch the course on EarmarkCPE to get free CPE/CE for listening to this episode.Links mentioned in this episodeChapters(00:00) - Tax Season Check In (02:38) - Bipartisan IRS Service Bill (03:48) - Modernizing IRS Tech (08:07) - Tax Preparer Standards (12:17) - OBBBA 2.0 Talk (16:19) - Healthcare Proposals (17:48) - Crypto Regulation Bills (21:45) - Bills That Passed (24:47) - Scams and Security Focus (28:33) - Filing Season Updates (29:03) - IRS Service Struggles (30:26) - Union Morale Fallout (32:25) - Notices and Forms Update (34:28) - CEO Hearing Highlights (37:13) - Audits and Tax Gap (39:19) - New Deductions Growing Pains (40:51) - Car Loan Interest Confusion (48:03) - ERC and Other Fraud Lessons (50:32) - Tariffs and Refund Questions (52:17) - AI Tax Prep Threat (54:04) - Wrap Up and Sign Off Follow the Federal Tax Updates Podcast on Social Mediatwitter.com/FedTaxPodfacebook.com/FedTaxPodlinkedin.com/showcase/fedtaxpodConnect with the Hosts on LinkedInRoger HarrisAnnie SchwabReviewLeave a review on Apple Podcasts or PodchaserSubscribeSubscribe to the Federal Tax Updates podcast in your favorite podcast app!This podcast is a production of Earmark MediaThe full transcript for this episode is available by clicking on the Transcript tab at the top of this pageAll content from this podcast by SmallBizPros, Inc. DBA PADGETT BUSINESS SERVICES is intended for informational purposes only.

Unlocking Advanced Tax Savings: How Strategic Trusts Empower Entrepreneurs with Sally GimonIn a recent episode of The Thoughtful Entrepreneur Podcast, host Josh Elledge sat down with Sally Gimon, a dedicated Investor and tax strategist at The Trust is You, to dismantle the common frustrations business owners face during tax season. Despite having experienced CPAs, many entrepreneurs find themselves blindsided by massive tax bills—a pain point Sally knows intimately from her own early days in real estate. Their conversation dives into the specialized world of non-grantor irrevocable spendthrift trusts, a legal framework used by America's wealthiest dynasties to protect assets and defer taxes. This episode serves as a vital resource for high-achieving founders looking to move beyond basic deductions and into the elite level of wealth preservation.Beyond Compliance: Why Your CPA Might Be Missing Millions in SavingsMost business owners rely solely on their CPAs for tax advice, but there is a fundamental gap between tax compliance and specialized trust law. CPAs are expertly trained in the tax code, yet only a tiny fraction of professionals are versed in the nuances of contract law and the specific IRS codes that govern complex trusts. This often leads to a "compliance trap" where entrepreneurs follow the rules perfectly but still overpay because they aren't utilizing the same legal structures as the Rockefellers or the Kennedys. By bridging this gap, business owners can move from a reactive state of paying what they're told to a proactive state of legally shielding their hard-earned capital.The core of Sally's strategy revolves around Tax Code 643(b), which allows certain types of trusts to defer capital gains and passive income legally. While the IRS may issue memos expressing disapproval of aggressive strategies, it is important to remember that only Congress has the power to change the tax code itself. For business owners with appreciating assets like real estate or intellectual property, these trusts offer a dual benefit: significant tax deferral and robust asset protection from creditors or lawsuits. Implementing these structures requires a shift in mindset, moving away from "income management" toward "asset orchestration" within a protected legal entity.Ultimately, the goal of advanced tax planning is to provide the founder with more liquidity to reinvest in their mission and legacy. Sally emphasizes that these tools are not "loopholes" but are established parts of the American legal system designed to encourage long-term investment and wealth stability. By leveraging educational resources and weekly masterminds, entrepreneurs can demystify these complex structures and determine if they are ready to implement a spendthrift or beneficial trust. Taking control of one's tax destiny is about more than just numbers; it's about ensuring that the value created by the business remains within the family or the organization for generations to come.About Sally GimonSally Gimon is an experienced Investor and a leading advocate for tax education through her platform, The Trust is You. After facing a nearly six-figure tax bill early in her real estate career, she dedicated herself to uncovering the wealth-preservation secrets of the ultra-wealthy. Today, she helps business owners across 165 countries understand trust law to protect their assets and slash their tax burdens.About The Trust is YouThe Trust is You is an educational and strategic resource center focused on democratizing advanced tax-saving tools. The company provides video courses, weekly mastermind sessions, and specialized consulting on non-grantor irrevocable spendthrift trusts. Their mission is to empower entrepreneurs with the knowledge to legally minimize taxes and protect their legacy using proven trust frameworks.Links Mentioned in This EpisodeThe Trust is You Official WebsiteSally Gimon on LinkedInKey Episode HighlightsThe CPA Limitation: Understanding why compliance-focused accounting often overlooks advanced wealth-preservation strategies.The Power of 643(b): How this specific tax code allows for the legal deferral of capital gains and passive income within a trust.Asset Protection: Why spendthrift trusts are the gold standard for shielding your business and personal assets from litigation.The "Rockefeller" Strategy: Lessons from America's wealthiest families on using contract law to maintain multi-generational wealth.Democratizing Knowledge: How Sally's free resources are making elite tax strategies accessible to small and medium-sized business owners.ConclusionThis conversation with Sally Gimon highlights that while the tax code is complex, it contains powerful provisions for those willing to look beyond standard accounting. By integrating trust law into your financial strategy, you can transform your relationship with the IRS and keep more of your wealth working for you.More from The Thoughtful Entrepreneur

HEADLINE: The Historical Roots of High Healthcare Costs GUEST: Veronique De Rugy The high cost of American healthcare is traced back to a 1920s tax code decision that exempted employer-provided health benefits from taxation. This "accidental" policy skewed the market toward insurance provided by employers or the government rather than an individual market. Consequently, the individual insurance market remains small and expensive, contributing to the United States having the most expensive healthcare system on the planet. (10)1919

### HEADLINE: THE TAX CODE ORIGINS OF HIGH AMERICAN HEALTHCARE COSTS SUMMARY:Veronique de Rugy traces modern healthcare expenses to a 1920s tax error and advocates for health savings accounts to restore consumer control and transparency. GUEST: Veronique de Rugy NUMBER: 13 (13)NOVEMBER 1899

Roger and Annie check in mid-tax-season with a candid look at what's actually landing on desks — from W-2s showing overtime pay coded a half-dozen different ways to clients convinced their entire salary qualifies for the new deduction. They also break down the meal and entertainment changes taking effect in 2026, including why your office coffee pot is now a tax problem.SponsorsPadgett -  Contact Padgett or Email Jeff PhillipsGet NASBA Approved CPE or IRS Approved CELaunch the course on EarmarkCPE to get free CPE/CE for listening to this episode.Chapters(00:00) - Mardi Gras Catch Up (01:53) - Tax Season Pulse Check (05:17) - New Tips and Overtime Law (07:07) - Tracking and Payroll Prep (10:58) - New Fees and Tip Confusion (12:46) - W2 Example Box 14 Codes (16:25) - Should We Ask About Overtime (20:36) - OT Premium Smell Test (24:39) - Weird W2 Overtime Codes (27:04) - Pay Stub Premium Math (29:25) - Pay Stub Math Costs (29:55) - Overtime Premium Basics (32:13) - W2 Box 14 Overtime (33:27) - When Details Are Missing (35:35) - Double Overtime Limits (36:18) - Salary vs Overtime Claims (38:36) - Due Diligence and Fees (41:01) - Meals Rules Change 2026 (45:01) - Zero Deduction Office Meals (45:37) - Coffee and Snacks Debate (48:59) - Client Education and COA (51:48) - IRS Paper Checks Ending (55:49) - Wrap Up and Next Steps Follow the Federal Tax Updates Podcast on Social Mediatwitter.com/FedTaxPodfacebook.com/FedTaxPodlinkedin.com/showcase/fedtaxpodConnect with the Hosts on LinkedInRoger HarrisAnnie SchwabReviewLeave a review on Apple Podcasts or PodchaserSubscribeSubscribe to the Federal Tax Updates podcast in your favorite podcast app!This podcast is a production of Earmark MediaThe full transcript for this episode is available by clicking on the Transcript tab at the top of this pageAll content from this podcast by SmallBizPros, Inc. DBA PADGETT BUSINESS SERVICES is intended for informational purposes only.

 Chris Markowski delves into pressing issues surrounding financial freedom, human trafficking, the complexities of the tax code, the healthcare crisis, and the need for mental health reform. He emphasizes the importance of exposing the truth behind these societal problems and advocates for systemic change to protect vulnerable populations and ensure fairness in economic policies.

NAEA President Jennifer MacMillan joins Roger and Annie to talk about what she's hearing from enrolled agents on the front lines this tax season — including an IRS that's putting undertrained staff on the phones, backlogs that aren't getting resolved, and one practitioner who made 25 calls on a single issue without ever getting an answer. They also dig into the bipartisan push for minimum preparer standards, NAEA's win on Oregon licensing, and why Jennifer thinks managing client expectations around social security, tips, and overtime is going to be one of the biggest challenges of the season.SponsorsPadgett -  Contact Padgett or Email Jeff PhillipsGet NASBA Approved CPE or IRS Approved CELaunch the course on EarmarkCPE to get free CPE/CE for listening to this episode.Links mentioned in this episodeChapters(00:00) - Welcome to Federal Tax Updates (03:55) - Jennifer's Journey (05:55) - Selling a Tax Practice the Smart Way: Timing, Systems, and Profitability (08:36) - What NAEA Offers: Community Support, Web Board, and Member Resources (09:54) - IRS Service Breakdown: Phone Lines, Staffing Losses, and Backlog Reality (12:43) - Real-World IRS Call Horror Stories: POA Issues, Callbacks, and TAS Limits (15:09) - Returns & Refunds: E-File Works—But Humans and Paper Still Slow Everything (16:34) - Managing Client Expectations in a Misinformation Tax Year (20:32) - Pricing Your Expertise: Value Billing, Fee Schedules, and Getting Paid for Knowledge (26:30) - Why Community Matters + The Accounting Today Webinar Recap (28:43) - Tax season prep: new laws, IRS notices & online accounts (30:59) - DC advocacy + NAEA Fly-In (May 5–6): what to expect (32:05) - Minimum standards for paid preparers: the bipartisan push (34:50) - Why regulation matters: tax gap, weak enforcement & bad actors (41:18) - State battles: Oregon licensing surprise + Minnesota win (48:09) - Join NAEA: member benefits, volunteering & community (51:07) - Wrap-up: upcoming topics and tax-season sendoff Follow the Federal Tax Updates Podcast on Social Mediatwitter.com/FedTaxPodfacebook.com/FedTaxPodlinkedin.com/showcase/fedtaxpodConnect with the Hosts on LinkedInRoger HarrisAnnie SchwabReviewLeave a review on Apple Podcasts or PodchaserSubscribeSubscribe to the Federal Tax Updates podcast in your favorite podcast app!This podcast is a production of Earmark MediaThe full transcript for this episode is available by clicking on the Transcript tab at the top of this pageAll content from this podcast by SmallBizPros, Inc. DBA PADGETT BUSINESS SERVICES is intended for informational purposes only.

“After the US Constitution, the tax code is the single most important document affecting Americans' lives. But because it is a deeply opaque, seven-thousand-page document, few Americans have any idea what the code says.” So writes legal scholar Ray D. Madoff, who argues the tax code is one of the main drivers of our nation's historic wealth inequality — allowing the ultra-wealthy to avoid taxation altogether while relying much more on workers' payroll taxes than many realize. We unpack how the tax code works and what real reform would look like. Madoff's book is “The Second Estate: How the Tax Code Made an American Aristocracy.” Guests: Ray D. Madoff, professor, Boston College Law School; author, "The Second Estate: How the Tax Code Made an American Aristocracy" Learn more about your ad choices. Visit megaphone.fm/adchoices

In her second episode with us, Catrina Craft shares essential tax strategies for entrepreneurs, focusing on home office deductions, the Augusta rule, and the importance of understanding entity structures. She emphasizes the significance of retirement planning and preparing for professional tax assistance to maximize deductions and minimize tax liabilities.As you listen:00:00 Introduction to Tax Strategies for Entrepreneurs02:48 Understanding Home Office Deductions05:54 Leveraging the Augusta Rule for Tax Benefits08:39 Entity Structures: Sole Proprietorship vs. LLC10:40 Retirement Planning and Tax Deductions15:32 Preparing for Professional Tax Assistance"Get your books in order.""Let the IRS fund your retirement.""Outsourcing may be the way to go."Takeaways:-Get your books in order to save time and money.-Use tax strategies to benefit your business.-Home office deductions can include utilities and cleaning services.-The Augusta rule allows you to rent your home to yourself for tax benefits.-Understand your entity structure for optimal deductions.-Retirement contributions can be a significant tax deduction.-You can borrow against your retirement funds if structured correctly.-A sole proprietorship is the simplest business structure.-Investing in retirement now can lead to tax-free growth later.-Outsourcing accounting tasks can reduce the risk of errors.

It may seem inconceivable given all that is happening in our nation but yes, tax season is here again. And while that is stressful and complex, particularly for those who have lost their jobs, from federal employees to nonprofit professionals and journalists, for lowest income Americans, filing taxes is a singular opportunity for financial empowerment. That is because of the Earned Income Tax Credit, added to the U.S. Tax Code in 1975, our most powerful tool for lifting lowest income wage earners out of poverty. I cannot imagine a conversation about solutions to economic inequality, through public policymaking and community education, without Joseph Leitmann-Santa Cruz, my guest, again, on Power Station. Joseph recounts how transformative these dollars, which are earned and not charity, are for these families. We commiserate over the cruelty of the latest White House executive order, which makes receiving those benefits exponentially more difficult. Joseph shares how this administration's efforts to undermine the right of all communities to prosper informs his nonprofit consulting and role with the Federal Reserve Bank of Richmond. As always, he is driven by a belief in family, his own and all of ours.

Most high-income earners assume their tax situation is handled once they hire a CPA and start filing. The return gets done, nothing breaks, and it's easy to believe that if something mattered, it would already be happening. But that assumption quietly costs people money. Not because they're reckless or aggressive, but because compliance gets mistaken for strategy, and basic leverage never gets activated. Zach Newberry works with business owners and real estate investors who earn well, and still find themselves on the wrong side of the tax game. What he sees over and over isn't missed loopholes or exotic strategies.  It's small, obvious decisions that never get made: spending a few thousand dollars to unlock meaningful capital, revisiting structures that no longer fit, and using rules that already apply but are never deployed. His perspective reframes taxes as a capital allocation problem, not a paperwork exercise. Instead of focusing on what gets filed, he looks at what gets converted, dollars that would disappear versus dollars that stay in play for the next investment. In this episode, we talk about why small, inconvenient costs often unlock real leverage, where high earners miss money long before "strategy" even starts, and how rules like the Augusta Rule fit into real life when you understand how to use them. About the Guest  Zachary Newberry is a CPA, tax planner, and entrepreneur who works primarily with business owners and real estate investors. His practice focuses on helping clients move beyond basic tax compliance and use the tax code intentionally — connecting entity structure, real estate, income timing, and planning decisions in a way that supports long-term wealth building. He works with real estate investors, real estate-centric businesses, small to mid-sized companies, and high-income individuals. In addition to tax preparation, Zach provides ongoing tax planning and advisory services, accounting and bookkeeping oversight, and strategic consulting for clients who want their tax decisions to function as part of their broader financial and investment strategy — not just something that gets filed once a year.    Email Address - zach@newberrycpa.com Instagram - @newberrycpa Facebook Business Page - https://www.facebook.com/zachnewberrycpa Booking Link - https://go.oncehub.com/ZachNewberry   About Your Host From pro-snowboarder to money mogul, Chris Naugle has dedicated his life to being America's #1 Money Mentor with a core belief that success is built not by the resources you have, but by how resourceful you can be. Chris has built and owned 19 companies, with his businesses being featured in Forbes, ABC, House Hunters, and his very own HGTV pilot in 2018. He is the founder of The Money School™ and Money Mentor for The Money Multiplier.   His success also includes managing tens of millions of dollars in assets in the financial services and advisory industry and in real estate transactions. As an innovator and visionary in wealth-building and real estate, he empowers entrepreneurs, business owners, and real estate investors with the knowledge of how money works. Chris is also a nationally recognized speaker, author, and podcast host. He has spoken to and taught over ten thousand Americans, delivering the financial knowledge that fuels lasting freedom.

Could AI wipe out half of entry-level accounting roles? Blake and David recount a brazen “courier scam” on David's porch to unpack how deepfakes and spoofed calls fuel today's fraud (“less than 10% can tell AI video from real”). You'll learn practical controls—family code words, approval workflows—plus hands-on AI updates: Claude's Excel plugin and desktop agent, Gusto payroll in ChatGPT, and a prompt that forces AI to ask clarifying questions and wait for “go.”SponsorsUNC - http://accountingpodcast.promo/uncEarmarkCPE - http://accountingpodcast.promo/earmarkOnPay - http://accountingpodcast.promo/onpayChapters(02:02) - Personal Fraud Story: A Cautionary Tale (03:35) - Elder Fraud and AI-Driven Scams (06:53) - AI's Impact on Fraud and Security (11:39) - AI Tools for Accountants (19:40) - Earmark: CPE for Listening to Podcasts (22:01) - AI's Threat to Entry-Level Jobs (27:11) - AI Agents in Payroll and HR (35:20) - The Future of AI in Blue Collar Jobs (38:18) - AI's Role in Government Efficiency (39:52) - Simplifying the Tax Code with AI (41:42) - Payroll Innovations and AI (49:18) - Intuit's Career Pipeline Program (51:24) - Xero's New Features and AI Integration (58:48) - Conclusion and Upcoming Topics  Show NotesAI fakery turbo-charging fraud, cyber attacks https://www.accountingtoday.com/news/ai-fakery-turbo-charging-fraud-cyber-attacksThe Turing Reel https://runwayml.com/research/theturingreelThe Adolescence of Technology https://www.darioamodei.com/essay/the-adolescence-of-technologyLong-term Fears Build As 60% of U.S. Workers Say AI Will Cut More Jobs Than It Adds In 2026 https://allwork.space/2026/01/long-term-fears-build-as-60-of-u-s-workers-say-ai-will-cut-more-jobs-than-it-adds-in-2026/ADP® Accelerates AI Leadership with Launch of New AI Agents Designed to Solve Workforce Challenges https://www.prnewswire.com/news-releases/adp-accelerates-ai-leadership-with-launch-of-new-ai-agents-designed-to-solve-workforce-challenges-302672772.htmlExclusive: Gusto launching payroll inside ChatGPT https://www.thisweekinfintech.com/exclusive-gusto-launching-payroll-inside-chatgpt/Trump DOT Plans to Use Google Gemini AI to Write Regulations https://www.propublica.org/article/trump-artificial-intelligence-google-gemini-transportation-regulationsIntuit Launches New Career Pipeline Program to Empower the Next Generation of Accountants in the AI Era https://investors.intuit.com/news-events/press-releases/detail/1296/intuit-launches-new-career-pipeline-program-to-empower-the-next-generation-of-accountants-in-the-ai-eraNeed CPE?Get CPE for listening to podcasts with Earmark: https://earmarkcpe.comSubscribe to the Earmark Podcast: https://podcast.earmarkcpe.comGet in TouchThanks for listening and the great reviews! We appreciate you! Follow and tweet @BlakeTOliver and @DavidLeary. Find us on Facebook and Instagram. If you like what you hear, please do us a favor and write a review on Apple Podcasts or Podchaser. Call us and leave a voicemail; maybe we'll play it on the show. DIAL (202) 695-1040.SponsorshipsAre you interested in sponsoring The Accounting Podcast? For details, read the prospectus.Need Accounting Conference Info? Check out our new website - accountingconferences.comLimited edition shirts, stickers, and other necessitiesTeePublic Store: http://cloudacctpod.link/merchSubscribeApple Podcasts: http://cloudacctpod.link/ApplePodcastsYouTube: https://www.youtube.com/@TheAccountingPodcastSpotify: http://cloudacctpod.link/SpotifyPodchaser: http://cloudacctpod.link/podchaserStitcher: http://cloudacctpod.link/StitcherOvercast: http://cloudacctpod.link/OvercastWant to get the word out about your newsletter, webinar, party, Facebook group, podcast, e-book, job posting, or that fancy Excel macro you just created? Let the listeners of The Accounting Podcast know by running a classified ad. Go here to create your classified ad: https://cloudacctpod.link/RunClassifiedAdTranscriptsThe full transcript for this episode is available by clicking on the Transcript tab at the top of this page

Roger and Annie welcome back Thad Inge to decode what's happening in Washington DC as filing season kicks off. With potential government shutdowns, billion-dollar IRS budget cuts, and 25% of IRS staff gone through early retirements, uncertainty looms over tax professionals trying to implement retroactive provisions for overtime and tips. The conversation shifts to the renewed push for minimum tax preparer standards and why getting bipartisan legislation passed might be harder than ever in an election year.SponsorsPadgett -  Contact Padgett or Email Jeff PhillipsGet NASBA Approved CPE or IRS Approved CELaunch the course on EarmarkCPE to get free CPE/CE for listening to this episode.Connect with Thad IngeLinkedIn: https://www.linkedin.com/in/thad-inge-9342155Website: https://www.vsadc.com/Chapters(00:00) - Introduction and Greetings (03:15) - Congressional Updates and Government Shutdown Concerns (09:19) - IRS Staffing and Service Levels (11:31) - Tax Legislation and Employer Guidance (16:08) - State Tax Variations and Software Updates (19:35) - IRS Budget Cuts and Inflation Reduction Act Funds (25:25) - Student Loan Offsets and Political Implications (28:31) - Potential Tax Legislation and ACA Premium Tax Credits (29:35) - Trump's Healthcare Plan and Legislative Challenges (30:10) - Tax Extenders and Bipartisan Cooperation (32:36) - Child Tax Credit and Legislative Vehicles (33:24) - The Legislative Process and Unanimous Consent (37:02) - Senator Tillis and Party Defections (40:10) - Minimum Standards for Tax Preparers (53:57) - Incentivizing E-Filing for Small Businesses (58:12) - Conclusion and Upcoming Tax Season Follow the Federal Tax Updates Podcast on Social Mediatwitter.com/FedTaxPodfacebook.com/FedTaxPodlinkedin.com/showcase/fedtaxpodConnect with the Hosts on LinkedInRoger HarrisAnnie SchwabReviewLeave a review on Apple Podcasts or PodchaserSubscribeSubscribe to the Federal Tax Updates podcast in your favorite podcast app!This podcast is a production of Earmark MediaThe full transcript for this episode is available by clicking on the Transcript tab at the top of this pageAll content from this podcast by SmallBizPros, Inc. DBA PADGETT BUSINESS SERVICES is intended for informational purposes only.

Roger and Annie open 2026 by reviewing the major provisions from the Big Beautiful Bill that will affect this tax season, including no tax on tips, overtime exemptions, senior deductions, and car loan interest. They shift focus to practice management essentials that often get overlooked, discussing how to set boundaries with clients, right-size your firm, avoid becoming a bottleneck, and build a sustainable business model that doesn't require working 90-hour weeks. The conversation covers everything from engagement letters and payment policies to contingency planning and post-season evaluation.SponsorsPadgett -  Contact Padgett or Email Jeff PhillipsGet NASBA Approved CPE or IRS Approved CELaunch the course on EarmarkCPE to get free CPE/CE for listening to this episode.Links mentioned in this episodeChapters(00:00) - FTU 67 (00:37) - Overview of 2026 Tax Season Changes (02:31) - Key Tax Provisions for 2025 (05:16) - No Tax on Tips and Overtime (11:59) - Senior Citizen Deduction and Car Loan Interest (15:10) - Introduction of Trump Accounts (19:55) - Practice Management and Work-Life Balance (31:12) - The Importance of Delegation and Trust (31:59) - ‌ (34:54) - Contingency Planning for Unforeseen Circumstances (42:13) - Client Engagement and Scope Management (48:15) - Post-Tax Season Evaluation (53:13) - New Legislation and Client Communication (59:17) - Final Thoughts and Encouragement Follow the Federal Tax Updates Podcast on Social Mediatwitter.com/FedTaxPodfacebook.com/FedTaxPodlinkedin.com/showcase/fedtaxpodConnect with the Hosts on LinkedInRoger HarrisAnnie SchwabReviewLeave a review on Apple Podcasts or PodchaserSubscribeSubscribe to the Federal Tax Updates podcast in your favorite podcast app!This podcast is a production of Earmark MediaThe full transcript for this episode is available by clicking on the Transcript tab at the top of this pageAll content from this podcast by SmallBizPros, Inc. DBA PADGETT BUSINESS SERVICES is intended for informational purposes only.

Steve Forbes lays out some key proposals for President Trump and his economic team to juice the economy in 2026 and give Republicans an edge in the midterm elections.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Steve Forbes explains how Congressional Republicans can push back on Democrats' successful efforts to portray them as wrong on healthcare, achieve good results for the American people, and regain momentum as the midterms near.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Steve Forbes praises the new "Trump Accounts" and points to the $6.5 billion donation by Michael and Susan Dell to help fund those of 25 million American children.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

In this Money Talks: Emily Peck and Felix Salmon are joined by legal scholar Ray D. Madoff to discuss her new book The Second Estate: How the Tax Code Made an American Aristocracy. Ray lays out how the US tax code favors the wealthy to an unbelievable degree, helping them to essentially opt out of the system altogether.  Join Slate Plus to unlock weekly bonus episodes. Plus, you'll access ad-free listening across all your favorite Slate podcasts. You can subscribe directly from the Slate Money show page on Apple Podcasts and Spotify. Or, visit slate.com/moneyplus to get access wherever you listen. Podcast production by Jessamine Molli and Cheyna Roth. Learn more about your ad choices. Visit megaphone.fm/adchoices