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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.
With many changes to the new tax code, scammers are expected to flood consumers with phony messages this tax season. Jordan Wright with the Better Business Bureau's Tip-Off to the Rip-Off® on WBBM Newsradio has the scoop.
With many changes to the new tax code, scammers are expected to flood consumers with phony messages this tax season. Jordan Wright with the Better Business Bureau's Tip-Off to the Rip-Off® on WBBM Newsradio has the scoop.
“What's Buggin' You” segment for Friday 1-23-26
With many changes to the new tax code, scammers are expected to flood consumers with phony messages this tax season. Jordan Wright with the Better Business Bureau's Tip-Off to the Rip-Off® on WBBM Newsradio has the scoop.
The effects of the change in the federal stance on the scheduling status of cannabis may have many impacts on what insurers and those who service the industry … Read More » The post EP. 104: 280E Is Key to Understanding Impact of Federal Shift on Cannabis appeared first on Insurance Journal TV.
The effects of the change in the federal stance on the scheduling status of cannabis may have many impacts on what insurers and those who service the industry … Read More » The post EP. 104: 280E Is Key to Understanding Impact of Federal Shift on Cannabis appeared first on Insurance Journal TV.
The effects of the change in the federal stance on the scheduling status of cannabis may have many impacts on what insurers and those who service the industry … Read More » The post EP. 104: 280E Is Key to Understanding Impact of Federal Shift on Cannabis appeared first on Insurance Journal TV.
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.
The Office of Tax and Revenue (OTR) partnered with the DC Office of Cable Television, Film, Music and Entertainment (OCTFME) to launch a podcast just for DC taxpayers. Whether you're looking to better understand your taxes, stay up to date on what OTR is doing, or find out about resources you can actually use, this podcast is for you. Tune in on DC Radio 96.3HD4, YouTube, Spotify, Apple Music, and other platforms.
Financial advisors Justin and Michael McNamara talk about the "One Big Beautiful Bill," a substantial piece of legislation that significantly alters the United States tax code. The hosts highlight key changes, such as making certain income tax brackets permanent and increasing the standard deduction to simplify filings for many households. They also explain new benefits for specific groups, including a senior bonus deduction for those over 65 and expanded child tax credits for families. Throughout the broadcast, the duo emphasizes that many of these provisions are retroactive to the current year, potentially leading to larger tax refunds. Listeners are repeatedly encouraged to consult with professional accountants because the complexity of these laws makes proactive year-end planning essential for maximizing savings. Specialized topics like state and local tax (SALT) caps, 529 education plans, and the financial impact of Social Security are also addressed to help retirees manage their taxable income levels. Justin McNamara, CFP® is a Certified Financial Planner with passion for investment strategy and selection. He works with small businesses and owners, parents of college-bound kids, job changers, pre- and post-retirees. Michael J. McNamara, Ph.D., CFP®, is the founder of McNamara Financial. A seasoned financial planner with over 40 years of experience, Mike is now semi-retired and works exclusively with long-time clients and a select few new ones.
This is a bonus episode from a recent webinar Annie and Roger did. Prepare for Tax Season 2026 and the changes brought by the One Big Beautiful Bill Act. Join Federal Tax Updates co-hosts Roger Harris and Annie Schwab for a focused look at the most impactful provisions and what they mean for your clients. They break down the latest IRS updates, highlight the questions firms are already hearing, and share practical advice to help your firm prepare for the year ahead.Roger Harris, EA - https://www.linkedin.com/in/rogerharrispbs/Annie Schwab, CPA - https://www.linkedin.com/in/annie-schwab-852418261/Learn more about Padgett: https://www.padgettadvisors.com/
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.
Andres Costa and Emily Goodman have acquired four accounting practices since 2021, expanding from a single location to five offices with a team of ten. They break down their acquisition strategy, from finding deals and structuring payment terms to handling employee transitions and raising client fees. Roger and Annie dig into the hard realities of practice valuations, including why a $350,000 firm might only be worth $200,000 and what sellers need to fix before they can command top dollarSponsorsPadgett - 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) - Introduction and Greetings (00:52) - Meet the Special Guests: Andre and Emily (01:55) - The Importance of Acquiring Firms (02:46) - Starting the Acquisition Journey (07:11) - First Acquisition Experiences (13:16) - Evaluating Potential Firms (26:20) - Maintaining and Scaling Operations (33:22) - Structuring Acquisition Deals (33:59) - Client Retention Strategies (35:18) - Evaluating Firm Value (37:03) - Challenges with Small Firms (40:15) - Owner Financing Benefits (48:17) - Raising Client Fees (51:02) - Transitioning Clients and Employees (59:32) - Final Advice for Buyers and Sellers 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.
Welcome back to The Starting Line Podcast with host Cole Taylor!In this episode, Cole interviews Greg Taylor, an entrepreneur, tax strategist, and founder of Taylor Tax Strategy.We discuss what you need to know about the tax code updates to maximize savings, how to worship God in your work, and how to follow God's plan for your life and business.Tune in!Connect with our guest;www.taylortaxstrategy.comhttps://facebook.com/greg.taylor.47420Our resources:Book a call with us here:Business Coaching Health Coaching Free health resources & community:The Optimized Entrepreneur GroupFree faith brotherhood:www.facebook.com/groups/winnerscirclebrotherhood/Connect with Cole:www.instagram.com/coledavidtaylorwww.cole360.com
Ray D. Madoff is a professor at Boston College Law School and the cofounder and director of the Boston College Forum on Philanthropy and the Public Good. She is the author of Immortality and the Law: The Rising Power of the American Dead and lead author of The Practical Guide to Estate Planning. Her writing has appeared in The New York Times, The Wall Street Journal, The Washington Post, and The New York Review of Books, among other outlets. Get a copy of her brilliant book The Second Estate: How the Tax Code Made an American Aristocracy Anthony Scaramucci is the founder and managing partner of SkyBridge, a global alternative investment firm, and founder and chairman of SALT, a global thought leadership forum and venture studio. He is the host of the podcast Open Book with Anthony Scaramucci. A graduate of Tufts University and Harvard Law School, he lives in Manhasset, Long Island.
SMALL BUSINESS FINANCE– Business Tax, Financial Basics, Money Mindset, Tax Deductions
Most business owners think taxes are meant to take their money—but that's a lie. In this episode, Tiffany breaks down how the tax system is actually designed to reward business owners and investors. You'll learn how to use smart tax strategies and planning tips to keep more of what you earn. Discover why most CPAs keep things confusing, how the wealthy legally pay less, and what simple steps you can take to start maximizing income and reducing taxes today. Listen now to change the way you see taxes forever. Next Steps:
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.
Steve Forbes explains the complex and stark realities facing President Trump and his team in achieving a peace deal with Russian President Vladimir Putin to end the Russia-Ukraine War.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Steve Forbes shreds the latest budget for the U.K., explaining why its raised taxes and ending of jury trials will accelerate the startling degeneration of the U.S.'s mother country, and warns that what's happening in Britain is a warning to those who cherish liberty.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Former IRS Commissioner Danny Werfel and longtime agency communications chief Terry Lemons join Roger and Annie for a candid Thanksgiving conversation about the mounting challenges facing the agency heading into the 2026 filing season. The discussion covers budget cuts, staffing reductions, the lingering ERC backlog, and why a hollowed-out compliance function puts both taxpayers and tax professionals at greater risk.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) - Welcome to Federal Tax Updates (01:22) - Introducing Special Guests: Terry Lemons and Danny Werfel (02:33) - Danny's Post-IRS Journey (08:03) - Terry Lemons' Post-IRS Activities (12:27) - Challenges Facing the IRS and Tax Professionals (19:52) - The Importance of IRS Compliance and Modernization (30:50) - Concerns About Workforce Sustainability (31:56) - Employee Retention Credit Issues (32:37) - Fraud and Government Response (35:30) - Impact of Government Shutdown on IRS Programs (36:53) - IRS Performance and Resource Allocation (40:52) - Challenges in Tax Compliance and Enforcement (46:17) - Preparing for the Upcoming Tax Season (51:19) - College Football Predictions (53:53) - Closing Remarks and Holiday Wishes Connect with Terry Lemonshttps://www.linkedin.com/in/terry-lemons-77b3641a9Connect with Danny Werfelhttps://www.linkedin.com/in/danny-werfel-89441594Follow the Federal Tax Updates Podcast on Social Mediatwitter.com/FedTaxPodfacebook.com/FedTaxPodlinkedin.com/showcase/fedtaxpodConnect with the Hosts on LinkedInRoger Harris - https://www.linkedin.com/in/rogerharrispbs/Annie Schwab - https://www.linkedin.com/in/annie-schwab-852418261/ReviewLeave a review on Apple Podcasts or PodchaserSubscribeSubscribe to the Federal Tax Updates podcast in your favorite podcast app!This podcast is a production of 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 explains why the experience of the pilgrims could off a much-needed Thanksgiving lesson for NYC Mayor-elect Zohran Mamdani: that socialism doesn't work.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Steve Forbes breaks down why any Russia-Ukraine peace plan that leads to the domination of Ukraine by Russia will prove to be a false success, and would set in motion horrific consequences not only in Europe but Asia and the rest of the world.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Learn the 6 most overlooked advanced tax strategies used by the wealthy before end of the year to make sure you keep as much money from the government as legally possible before 2026. Our guest is Roger Roundy, the CEO of Strategic Associates, a team of tax professionals committed to helping high income earners only pay what their legally supposed to and not a penny more.Want to Pay Less Taxes to the Government this Year? Connect with the Strategic Associates Team:Book a Call: https://bttr.ly/strategic-associatesEmail: support@strategicag.net Join the Waitlist for the Tax and Assets Community: https://taxandassets.comWant Us to Review Your Current Tax Strategy? Click Here: https://betterwealth.com/taxIntro - 0:00 End-of-Year Tax Planning for Business Owners - 1:39 Pay as Little Taxes to The Government as Possible - 4:30 Why You Need Advanced Tax Strategies - 6:58What Everyone Needs to Know About Taxes - 10:52Understanding 77,000 Pages of the Tax Code - 12:094 Categories of Advanced Tax Strategies - 13:09How Low Should You Keep Your Income? - 18:11 What is the Risk of Being Audited by the IRS? - 22:35How Many Clients of Yours Have Been Audited? - 26:41We Can't Talk About This on Youtube - 30:156 Advanced Tax Strategies Explained - 32:45 The Carry-Forward Losses Strategy - 34:41Tax Code 704B Deferral Strategy - 39:06The Difference Between Deferral & Mitigation - 40:10The "Donation" Volume Strategy - 44:00 Depreciation, Leverage, & Trusts Strategy - 48:39Solar Energy Tax Strategies - 52:53 Tax Code 831B | Captive Insurance - 57:00How to Connect - 1:02:46______________________________________________ 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.
SMALL BUSINESS FINANCE– Business Tax, Financial Basics, Money Mindset, Tax Deductions
Most business owners set up an LLC and think they're done—but the wrong tax structure could be draining $15,000 to $30,000 a year from your profits. In this episode, Tiffany Phillips explains how sole proprietorships, S-Corps, and C-Corps really work, and how each impacts your taxes. You'll learn how to legally pay less, avoid self-employment tax traps, and make smarter business structure decisions that protect both your assets and your wallet. If you've ever been confused about LLCs versus S-Corporations, or why your CPA hasn't mentioned changing your election, this episode will make it crystal clear. Next Steps:
Steve Forbes explains why the Main Street Deposited Protection Act, which would raise the FDIC insurance limit from $250,000 to $10 million, would expose taxpayers to enormous risk, eliminate crucial market discipline, and primarily benefit wealthy corporations rather than ordinary Americans.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
What if we told you the government owes you money…and you didn't even know it? In this episode, Matt and Luigi sit down with Julio Gonzalez, founder and CEO of Engineered Tax Services, to peel back the curtain on how the tax code can actually become a tool — not a penalty — for entrepreneurs and real‑estate investors. We talk about the game‑changer "big beautiful bill," why R&D tax credits matter even to non‑tech firms, how cost segregation among real‑estate players is far more than "just depreciation," and why your accountant might be asleep at the wheel. Julio brings the engineering + tax combo that's usually reserved for the Fortune 500 … but we're showing you how to use it too.
Steve Forbes lays out an economic program that President Trump can employ to lower costs for American citizens and prevent a Republican routing in the 2026 midterms.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Steve Forbes warns of the ever-increasing nuclear threat posed by North Korea and its erratic dictator Kim Jong Un—and proposes putting nuclear weapons in key U.S. ally South KoreaSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Legal scholar Ray Madoff joins us to discuss her new book from the University of Chicago Press, "The Second Estate: How the Tax Code Made an American Aristocracy." "The Moment of Truth" with Jeff Dorchen follows the interview. Check out Ray's book here: https://press.uchicago.edu/ucp/books/book/chicago/S/bo256019296.html Help keep This Is Hell! completely listener supported and access bonus episodes by subscribing to our Patreon: https://www.patreon.com/thisishell Please rate and review This Is Hell! wherever you get your podcasts. It really helps the show ascend the algorithm to reach new listeners.
Steve Forbes explains why axing the FCC once and for all would be a huge win for free speech and a major step in protecting the First Amendment from government overreachSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Steve Forbes demands reform of the U.S.'s air traffic control system as the government shutdown, and many recent accidents, have shown its vulnerability—and calls for the system to be turned into an independent non-profit organization removed from politics.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 why the Federal Reserve must continue cutting rates despite Fed Chair Jerome Powell's hesitance to do so, warning that failure would cause the stock market's bull run to turn bearish. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Steve Forbes shares his unvarnished reaction to Fed Chair Jerome Powell's press briefing on Wednesday, calling out Powell's comments about a possible December rate cut and slamming the institution for remaining wedded to the false idea that prosperity causes inflation.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Steve Forbes responds to the election victory for Argentinian President Javier Milei's party by pointing out that now world leaders have to finally understand the nature of inflation, and solve it before it leads to more social and economic destruction.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
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
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