Podcasts about tax cuts

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Grow Your Business and Grow Your Wealth
Episode 135: Jason Massie, CPA, ESQ

Grow Your Business and Grow Your Wealth

Play Episode Listen Later Mar 22, 2023 31:56


As Founder and President of MASSIE R&D Tax Credits, Jason is responsible for the quality, consistency, and integrity of our tax credit service offerings. He heads the Delivery Team at MASSIE and leads all Architecture and Controversy Phases for clients across the United States. He received a B.S. in Accounting from Christian Brothers University and a law degree from the University of Memphis. He was first introduced to R&D Tax Credits at a Big 6 accounting firm in Washington, D.C. Over the next few years; he led Big 4 and law firm practices in managing many types of federal and state tax planning, credits, incentives, and other cash flow strategies. He is widely recognized as an expert by his peers in the R&D Tax Credit and R&D Expenditure areas, with frequent speaking and writing engagements. Here are some of the beneficial topics covered on this week's show: What R and D credits are and aren't. How do you use technology to improve the process? An example of how to leverage technology to help with taxes. The passage of the Tax Cuts and Jobs Act (TCJA) made the research credit permanent in the tax code and made it even more attractive. The increased interest in r&d tax credit has overwhelmed the IRS, struggling to keep up with the number of tax returns with r&d claims. The IRS wants to change the form for refund claims and make taxpayers provide more information. Connect with Gary: Website: sbadvisors.cc/ Facebook: facebook.com/SmallBusinessAdvisors LinkedIn: linkedin.com/in/gary-d-heldt-jr-388a051/ Learn more about your ad choices. Visit megaphone.fm/adchoices

Quiet Wealth
How To Save On Taxes With Real Estate | Episode 57

Quiet Wealth

Play Episode Listen Later Mar 15, 2023 11:47


Real estate can be a great investment for many reasons!  It can provide steady rental incomeAppreciate in value over timeOffer tax benefits that can help reduce your overall tax burden Investing in real estate can be one of the most effective ways to save on taxes. Whether you're a seasoned real estate investor or just getting started understanding the tax benefits of real estate can help you maximize your returns and keep more money in your pocket. In this episode, we'll explore some of the top ways that real estate can help you save on taxes, and provide tips for maximizing your tax savings through strategic real estate investments. Get ready to build & share the wealth, let's dive in.Episode timeline:[00:00 - 02:43] • Welcome to the Quiet Wealth Podcast.• It's Tax season. Why does the government give incentives to real estate investors? [02:44 - 07:48 ]• Ways that real estate can help you save in taxes.• Becoming a passive investor, and depreciation breaks.• Tax Cuts and Jobs Act of 2018. How does it help? [07:58 - 10:23 ] • Long-term capital gains.• Opportunity zones.• Capital gains tax and how it can be very beneficial.  • See you on the next episode.Build Wealth |  Create Impact | Leave A LegacyEpisode Highlight:  "Ultimately, investing in real estate is the strategy for saving on taxes. Combine that with owning your own business and suddenly you have a pretty solid way to keep more of your money. ." -Camilla Jeffs Are you ready to try passive investing in real estate? Get access to my FREE Passive Investing Masterclass! https://steadystreaminvestments.com/masterclass/ Follow us athttps://www.facebook.com/steadystreaminvestmentshttps://www.instagram.com/quietwealthcommunity/https://www.tiktok.com/@quietwealthhttps://www.youtube.com/channel/UC2MFOVyPWo0XD0QVJxgDxbQhttps://www.linkedin.com/company/steady-stream-investments  NEW TO THE SHOW?Browse through all of our episodes herehttps://steadystreaminvestments.com/podcast  P.S. We at the Quiet Wealth Podcast are excited you're here!

Take 2: Utah's Legislature with Heidi Hatch, Greg Hughes and Jim Dabakis
Take 2 Podcast: Utah 2023 Legislative session wrap up, student dress code, tax cuts

Take 2: Utah's Legislature with Heidi Hatch, Greg Hughes and Jim Dabakis

Play Episode Listen Later Mar 11, 2023 34:41


Host: Heidi HatchGuests: Greg Hughes & Maura CarabelloUtah 2023 Legislative session wrap upGovernor Cox says he will sign a bill requiring most abortions to take place in a hospital.The State Flag Fight is not over yetStudent Dress CodesWas this Legislative session more partisan?UEA calling on the Governor to Veto HB 427Tax CutsDaylight Saving on Sunday- Spring ahead!See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The Dale Jackson Show
Dale and State Sen. Sam Givhan discuss whether the Legislature has a deal on any tax cuts or rebates - 3-9-23

The Dale Jackson Show

Play Episode Listen Later Mar 9, 2023 7:30


See omnystudio.com/listener for privacy information.

Cherry Bekaert: The Tax Beat
Fund Business Growth With State and Local Tax Credits & Incentives

Cherry Bekaert: The Tax Beat

Play Episode Listen Later Mar 9, 2023 23:23


State Credits & Incentives programs are offered by state governments to encourage economic development and investments in their state. These credits allow businesses an opportunity to reduce their tax burden, increase cash flow and make investments for growth and long-term success. All these credit and incentives programs are designed to benefit the local areas and give businesses an advantage in a competitive market.Melinda Young, State Credits & Incentives Director, and Nick Cousino, State Credits & Incentives Senior Manager, join Brooks Nelson, Partner and Strategic Leader, and Sarah McGregor, Tax Director, on this edition of the Tax Beat podcast to share insights on how your business can take advantage of these programs.Listen to learn more about:Background on the State Credits & Incentives PracticeCommonly Claimed State CreditsState Credits From Previous YearsState Credits TrendsInvestments and Job Creation With State CreditsImpact of Layoffs During COVID-19Minimum Business Investments to Benefit From State Credits & IncentivesSite Selection ServicesLocation Retention Incentives Impact of the Tax Cuts & Jobs Act (TCJA) On State Incentive Packages

KCPW | Salt Lake City News and Information | 88.3 FM
The 2023 Legislative Session: education, teachers and tax cuts

KCPW | Salt Lake City News and Information | 88.3 FM

Play Episode Listen Later Mar 9, 2023 25:45


Both Sides of the Aisle – Natalie Gochnour is joined on The Right by John Dougall, Utah State Auditor, and on The Left by Shireen Ghorbani, former Salt Lake County Council member. The hosts discuss the bills passed during the 2023 Utah Legislative Session, education funding and tax cuts. They also discuss the relationship between Utah…

Unfiltered Finance
Reducing Your Tax Bill - Part Two

Unfiltered Finance

Play Episode Listen Later Mar 9, 2023 18:10


In our last episode, we discussed the importance of a portfolio's asset allocation, and, how that relates to “Reducing Your Tax Bill”. In part two of this episode, we are joined once again by Symmetry's Managing Director of Research and Investments, Philip McDonald, CFA, CAAIA & Glenn Shirley, CAIA, Head of Investor Relations for Quantinno Capital Management, to discuss the methods by which you can “re-charge that tax benefit”. If you have any questions or would like more information, reach out to us at https://symmetrypartners.com/contact-us/ You can also find us on Facebook, YouTube, Twitter, and LinkedIn. As always, we remain invested in your goals. Symmetry Partners, LLC, is an investment advisory firm registered with the Securities and Exchange Commission. The firm only transacts business in states where it is properly registered, excluded or exempted from registration requirements. Registration of an investment adviser does not imply any specific level of skill or training and does not constitute an endorsement of the firm by the Commission. No one should assume that future performance of any specific investment, investment strategy, product or non-investment related content made reference to directly or indirectly in this material will be profitable. As with any investment strategy, there is the possibility of profitability as well as loss. Due to various factors, including changing market conditions and/or applicable laws, the content may not be reflective of current opinions or positions.   Please note the material is provided for educational and background use only. Moreover, you should not assume that any discussion or information contained in this material serves as the receipt of, or as a substitute for, personalized investment advice.   00:00:01.800 --> 00:00:07.600 Hello listeners, 1 00:00:07.600 --> 00:00:10.900  welcome back to part two of our conversation on 2 00:00:10.900 --> 00:00:13.500  investing in taxes. Once again, I'm joined by Glenn 3 00:00:13.500 --> 00:00:16.500  Shirley from quantino and Phil McDonald from symmetry. 4 00:00:16.500 --> 00:00:19.100  Thanks gentlemen for joining us again, whether or not the market goes up 5 00:00:19.100 --> 00:00:22.800  or down when you have the long short overlay you have 6 00:00:22.800 --> 00:00:26.700  opportunities to to find losers losses. 7 00:00:26.700 --> 00:00:29.700  If you will to reach hard that tax benefit, 8 00:00:29.700 --> 00:00:32.400  it's some what counterintuitive right we're looking 9 00:00:32.400 --> 00:00:35.300  for Securities that have gone down in 10 00:00:35.300 --> 00:00:38.100  value, but I think the truth of the matter is is that when you 11 00:00:38.100 --> 00:00:41.600  own an ETF that's tracking an index or mutual 12 00:00:41.600 --> 00:00:44.300  fund that's tracking index. The reality is Phil 13 00:00:44.300 --> 00:00:47.600  you do own those losers. You just might not see them right? They're always 14 00:00:47.600 --> 00:00:50.200  that's right. Yeah looking at and that's 15 00:00:50.200 --> 00:00:53.300  a great Point looking at say in S&P 500 or 16 00:00:53.300 --> 00:00:57.300  Russell 1000 ETF. You you see one number, 17 00:00:56.300 --> 00:00:59.300  you know one one price 18 00:00:59.300 --> 00:01:01.500  one return but behind 19 00:01:02.300 --> 00:01:06.100 You're likely going to have dozens and dozens of positions 20 00:01:05.100 --> 00:01:08.200  that throughout the year and at year end 21 00:01:08.200 --> 00:01:11.900  are in or in a lost position. So in 22 00:01:11.900 --> 00:01:14.400  direct indexing, it just kind of breaks down that wrapper and 23 00:01:14.400 --> 00:01:17.700  you hold, you know hundreds of Securities directly. So 24 00:01:17.700 --> 00:01:20.800  you kind of see those a little bit more clearly sure and 25 00:01:20.800 --> 00:01:24.400  we've seen that in recent years right with some of these tech stocks 26 00:01:24.400 --> 00:01:27.400  the Fang stocks if you will Facebook Apple Amazon Netflix Google 27 00:01:27.700 --> 00:01:30.200  Etc. They were driving the returns of the S&P and there 28 00:01:30.200 --> 00:01:33.400  was a vast majority of those securities within the S&P that 29 00:01:33.400 --> 00:01:36.300  were in the red and by unwrapping it you can 30 00:01:36.300 --> 00:01:39.600  take advantage of those you still run into the issue of 31 00:01:39.600 --> 00:01:42.700  the portfolio seizing and what 32 00:01:42.700 --> 00:01:45.400  I mean by that is what we've been talking about having that portfolio 33 00:01:45.400 --> 00:01:48.000  get to a point where you don't have any room to make 34 00:01:48.300 --> 00:01:51.600  any trades without incurring some sort of tax consequence, but I 35 00:01:51.600 --> 00:01:54.900  think that's where the 1330 comes in right Glenn you're 36 00:01:54.900 --> 00:01:57.300  able to apply that strategy on 37 00:01:57.300 --> 00:02:00.700  top of an existing portfolio generate losses in 38 00:02:00.700 --> 00:02:02.200  any Market environment. And so 39 00:02:02.200 --> 00:02:05.100 So I think that that's a really interesting thing Glenn. Can you talk a little bit? 40 00:02:05.100 --> 00:02:08.200  I didn't mean to interrupt you, but could you talk a little bit about what is 41 00:02:08.200 --> 00:02:11.400  what happens with the risk exposure by putting that overlay on 42 00:02:11.400 --> 00:02:14.500  right investor with that 100 dollars 30 long 43 00:02:14.500 --> 00:02:17.100  30 short what what happens to the 44 00:02:17.100 --> 00:02:20.600  risk characters of that particular account? Sure. Yeah great 45 00:02:20.600 --> 00:02:23.300  question Tom. So if you look at if you just 46 00:02:23.300 --> 00:02:26.900  put on a 30% long 30% short 47 00:02:26.900 --> 00:02:29.300  portfolio. And you said what is the risk of 48 00:02:29.300 --> 00:02:32.500  that portfolio in isolation by itself? The answer 49 00:02:32.500 --> 00:02:36.000  to that is about one percent and that 50 00:02:35.100 --> 00:02:38.300  could be there be you know, standard deviation how much it's 51 00:02:38.300 --> 00:02:42.100  going to move around or it could be if you're if you're looking at that benchmarked 52 00:02:41.100 --> 00:02:44.200  to a you know, an index like 53 00:02:44.200 --> 00:02:47.400  the S&P 500 that would be one percent tracking here. So pretty 54 00:02:47.400 --> 00:02:50.500  modest, you know, a lot of active Equity strategies have tracking 55 00:02:50.500 --> 00:02:53.300  air easily of two percent or more. So we're 56 00:02:53.300 --> 00:02:56.300  not adding a lot of of risk just via that long 57 00:02:56.300 --> 00:02:59.500  short extension, but in reality as I mentioned you have 58 00:02:59.500 --> 00:03:01.600  these kind of Legacy accounts that 59 00:03:02.200 --> 00:03:05.700 Some elevated levels of risk that long short extension is 60 00:03:05.700 --> 00:03:08.200  a tool to reduce that risk. So even though 61 00:03:08.200 --> 00:03:11.400  you have a 1% risk in 62 00:03:11.400 --> 00:03:14.300  that long short extension in isolation. If you use that 63 00:03:14.300 --> 00:03:17.400  long short extension efficiently to reduce 64 00:03:17.400 --> 00:03:20.600  the total risk of the portfolio, then oftentimes we 65 00:03:20.600 --> 00:03:23.900  can also we can actually reduce kind of the total tracking 66 00:03:23.900 --> 00:03:26.400  error or risk versus The Benchmark of a 67 00:03:26.400 --> 00:03:29.200  tax less harvesting strategy often we can at least 68 00:03:29.200 --> 00:03:32.400  keep it the same. So when you look at a quantino kind 69 00:03:32.400 --> 00:03:35.900  of 130 30 tax loss harvesting account tracking errors 70 00:03:35.900 --> 00:03:38.400  typically one and a half percent on average 71 00:03:38.400 --> 00:03:41.400  and that's very very similar to what of 72 00:03:41.400 --> 00:03:44.300  what a clients are probably experiencing in their long only text less 73 00:03:44.300 --> 00:03:47.100  harvesting accounts as well. So just to reiterate what you're 74 00:03:47.100 --> 00:03:50.400  saying by applying the the 1330 extension to 75 00:03:50.400 --> 00:03:53.700  a portfolio the clients risk exposures still that 76 00:03:53.700 --> 00:03:56.300  principle investment is what I'm hearing you say, 77 00:03:56.300 --> 00:03:59.400  however, I think what I think a really really strong 78 00:03:59.400 --> 00:04:01.700  point is that it's not necessarily 79 00:04:02.200 --> 00:04:05.900 the risk by putting the overlay but it actually can be a risk mitigator Phil 80 00:04:05.900 --> 00:04:09.200  you and I have run across these many many times where investors 81 00:04:08.200 --> 00:04:11.600  come to us and we look at their existing Holdings 82 00:04:11.600 --> 00:04:14.200  and we're working on a Case right now 83 00:04:14.200 --> 00:04:17.600  where the investor who probably should 84 00:04:17.600 --> 00:04:20.500  have a balanced portfolio between Brawley Diversified 85 00:04:20.500 --> 00:04:21.600  stocks and bonds. 86 00:04:22.200 --> 00:04:25.900 Is stuck in a single stock position that they 87 00:04:25.900 --> 00:04:28.200  can't do anything with because of the 88 00:04:28.200 --> 00:04:31.200  fact that it's it's got such a low cost basis if 89 00:04:31.200 --> 00:04:34.600  they were to sell that security. They would be looking at some significant. 90 00:04:35.400 --> 00:04:38.400 Tax consequences, but only a single 91 00:04:38.400 --> 00:04:41.300  stock is a real risky Endeavor. Oh, no question, 92 00:04:41.300 --> 00:04:41.800  and I think 93 00:04:43.300 --> 00:04:46.400 This is such an incredibly powerful benefit of this 94 00:04:46.400 --> 00:04:49.600  strategy. And I think it it sometimes is you know 95 00:04:49.600 --> 00:04:52.600  mentioned second after the the tax Alpha 96 00:04:52.600 --> 00:04:55.300  and hey, you can keep more of what you earn but this is so 97 00:04:55.300 --> 00:04:57.100  incredibly powerful, you know, thinking of 98 00:04:58.200 --> 00:05:01.300 Really sad examples through time like Enron, you know things went 99 00:05:01.300 --> 00:05:04.400  very bad for people who held most of their company 100 00:05:04.400 --> 00:05:07.200  stock a lot of incentive plans. These 101 00:05:07.200 --> 00:05:10.400  days will give employees options and shares and 102 00:05:10.400 --> 00:05:13.000  all that. So this is an issue or a lot 103 00:05:13.500 --> 00:05:16.700  of investors and I think this solution really is, you know virtuous and 104 00:05:16.700 --> 00:05:19.400  really helping them in their Financial Health and just to 105 00:05:19.400 --> 00:05:22.600  maybe put a finer point on it and at the 106 00:05:22.600 --> 00:05:25.900  risk of being a little repetitive, you know, if you own a 107 00:05:25.900 --> 00:05:29.200  large amount of your, you know, large amount of your financial wealth 108 00:05:28.200 --> 00:05:31.600  is in an oil stock or a 109 00:05:31.600 --> 00:05:32.100  tech stock. 110 00:05:32.700 --> 00:05:35.800 Immediately in putting on the 13030 strategy 111 00:05:35.800 --> 00:05:38.400  the the 30 extension the 112 00:05:38.400 --> 00:05:40.000  30 more long can hold. 113 00:05:40.700 --> 00:05:42.900 Every other industry except that one you hold. 114 00:05:43.500 --> 00:05:46.900 Imagine that diversification and then the short can reduce 115 00:05:46.900 --> 00:05:50.000  that exposure to that one industry. So overnight in 116 00:05:49.500 --> 00:05:52.400  what in in the first, you know 117 00:05:52.400 --> 00:05:55.700  day of transactions you go from hey, I 118 00:05:55.700 --> 00:05:58.800  might end up like Enron or wow. My my 119 00:05:58.800 --> 00:06:01.400  financial wealth is gonna ride up and down with 120 00:06:01.400 --> 00:06:04.900  the price of crude oil or how Google does and 121 00:06:04.900 --> 00:06:07.400  immediately you're getting more 122 00:06:07.400 --> 00:06:10.000  of a diversified Market portfolio. Even if 123 00:06:10.200 --> 00:06:13.900  you're just shooting toward maybe an S&P 500 Index. It's immediately 124 00:06:13.900 --> 00:06:16.100  beneficial Glen. I don't know if you'd add 125 00:06:16.100 --> 00:06:20.400  anything to that but I really find that as you know, powerful benefit 126 00:06:19.400 --> 00:06:22.400  to the end investor. Yeah, the 127 00:06:22.400 --> 00:06:25.900  your correct fell the deals exchange solution that 128 00:06:25.900 --> 00:06:28.300  quantino offers is really a use case 129 00:06:28.300 --> 00:06:31.400  that came about from client feedback. We're fortunate to 130 00:06:31.400 --> 00:06:34.400  work with a lot of family offices. These are very wealthy families that 131 00:06:34.400 --> 00:06:37.500  have concentration in their portfolio. 132 00:06:37.500 --> 00:06:40.300  They built wealth via service to a public company or 133 00:06:40.300 --> 00:06:43.400  investing in a company that went public and eventually 134 00:06:43.400 --> 00:06:46.000 They want to turn the corner from you know, 135 00:06:46.300 --> 00:06:50.600  this this wealth that has been built by that concentration turning 136 00:06:49.600 --> 00:06:52.400  the corner toward wealth preservation and that 137 00:06:52.400 --> 00:06:55.500  means diversification. So how do we do that in a tax efficient manner? 138 00:06:55.500 --> 00:06:58.800  There's exchange funds that we you 139 00:06:58.800 --> 00:07:01.500  know that are really an option for very wealthy families, but 140 00:07:01.500 --> 00:07:05.200  really not for clients at scale. They're multi-million 141 00:07:04.200 --> 00:07:07.200  dollar minimums their private 142 00:07:07.200 --> 00:07:10.500  Fund Solutions and you know, you're vestly 143 00:07:10.500 --> 00:07:13.800  investing in a hedge fund that's gonna take seven years to diversify 144 00:07:13.800 --> 00:07:15.500  and they're very expensive. So we always knew 145 00:07:16.600 --> 00:07:19.800 that if we could use our capabilities to help clients diversify 146 00:07:19.800 --> 00:07:22.100  concentrated positions to be a pretty powerful thing and 147 00:07:22.100 --> 00:07:25.600  that 30 by 30 extensions the the way we do that so, you 148 00:07:25.600 --> 00:07:27.100  know, we put that long short extension on 149 00:07:27.700 --> 00:07:30.300 The extension generates tax benefits along the 150 00:07:30.300 --> 00:07:33.100  way we can use that extension to reduce the risk of 151 00:07:33.100 --> 00:07:36.200  that concentrated position. You're totally right there. And then 152 00:07:36.200 --> 00:07:39.300  over time as we generate those consistent tax benefits 153 00:07:39.300 --> 00:07:42.300  that gives us a mechanism to sell 154 00:07:42.300 --> 00:07:45.900  down that concentrated position, but we're always matching 155 00:07:45.900 --> 00:07:48.300  the tax benefits that we generate with the 156 00:07:48.300 --> 00:07:51.100  capital gains that we are realizing by selling down that 157 00:07:51.100 --> 00:07:51.400  position. 158 00:07:52.400 --> 00:07:55.700 And then once we sell we're rebalancing into a 159 00:07:55.700 --> 00:07:58.300  diversified index of the advisor and the client's Choice 160 00:07:58.300 --> 00:08:01.900  could be S&P 500. It could be Global stocks really whatever 161 00:08:01.900 --> 00:08:04.700  the asset allocation decision ends up 162 00:08:04.700 --> 00:08:07.400  being so yeah a typical even low basis very 163 00:08:07.400 --> 00:08:10.500  low basis position 20% cost basis. We 164 00:08:10.500 --> 00:08:13.400  can help diversify in a tax efficient manner 165 00:08:13.400 --> 00:08:15.100  in around seven years. 166 00:08:16.300 --> 00:08:19.100 That's very cool. It's a very clever strategy. I mean 167 00:08:19.100 --> 00:08:23.200  we're talking about tax benefits, but what we're really talking about is 168 00:08:22.200 --> 00:08:24.500  transitioning a 169 00:08:25.300 --> 00:08:28.900 Well, I would consider a concentrate risky portfolio very 170 00:08:28.900 --> 00:08:31.200  risky at times into something that 171 00:08:31.200 --> 00:08:34.700  is more suitable for that investor more Diversified but 172 00:08:34.700 --> 00:08:37.600  doing it in a way that they don't 173 00:08:37.600 --> 00:08:40.900  have to feel the the pain of unwinding 174 00:08:40.900 --> 00:08:44.000  those positions that might have some very significant embedded 175 00:08:43.300 --> 00:08:46.600  gains. You know it our 176 00:08:46.600 --> 00:08:47.500  industry we get 177 00:08:49.100 --> 00:08:52.000 picked on I guess for being very jargony right a lot 178 00:08:52.600 --> 00:08:55.100  of jargon and terms that a lot of folks that 179 00:08:55.100 --> 00:08:58.400  are not in this industry on a daily basis and 180 00:08:58.400 --> 00:09:02.000  we throw out the term tax Alpha quite a bit and 181 00:09:01.300 --> 00:09:04.300  I'll throw this question out to both the a Phil and Glenn. 182 00:09:04.300 --> 00:09:07.700  Can we just Define what tax Alpha is 183 00:09:07.700 --> 00:09:10.400  and then can you quantify it? Sure. Yeah. Yeah 184 00:09:10.400 --> 00:09:13.300  to us. I think of tax Alpha is 185 00:09:13.300 --> 00:09:13.900  tax savings. 186 00:09:14.900 --> 00:09:18.400 So, you know if if quantino generates 187 00:09:17.400 --> 00:09:20.900  a dollar of short-term 188 00:09:20.900 --> 00:09:22.200  capital loss. 189 00:09:22.700 --> 00:09:25.700 Then if you have a short-term gain 190 00:09:25.700 --> 00:09:28.500  a dollar of short-term gains, that saves you 191 00:09:28.500 --> 00:09:32.200  40.8 percent. So I've saved the client 40 cents 192 00:09:31.200 --> 00:09:34.900  41 cents in tax. If 193 00:09:34.900 --> 00:09:37.400  I'm using that short-term law stuff set long 194 00:09:37.400 --> 00:09:41.300  term gains that that long-term gains rate essentially 23% 195 00:09:40.300 --> 00:09:43.400  at the federal level. So I've 196 00:09:43.400 --> 00:09:46.800  saved clients, you know, 24 cents 197 00:09:46.800 --> 00:09:49.000  on that dollar of a capital loss. 198 00:09:49.900 --> 00:09:52.700 So if I can consistently generate Capital losses 199 00:09:52.700 --> 00:09:55.700  if quantino can consistently do that. We're letting 200 00:09:55.700 --> 00:09:58.500  clients offset the capital gains 201 00:09:58.500 --> 00:09:59.500  that they have in their portfolio. 202 00:10:00.100 --> 00:10:03.600 and they're just keeping more of the return from those capital gains 203 00:10:03.600 --> 00:10:06.200  year to year and those capital gains from can come from a lot of different, 204 00:10:06.200 --> 00:10:08.500  you know Avenues it could be 205 00:10:09.300 --> 00:10:12.300 Capital gains distributions from Mutual Funds. It could 206 00:10:12.300 --> 00:10:15.700  be long-term gains realized from rebalancing your portfolio 207 00:10:15.200 --> 00:10:19.000  Etc. So to me tax Alpha 208 00:10:18.700 --> 00:10:21.200  is keeping more of that return in the 209 00:10:21.200 --> 00:10:24.400  client's pocket paying less in capital gains and using those 210 00:10:24.400 --> 00:10:27.800  Capital losses as a vehicle to do that great. 211 00:10:27.800 --> 00:10:30.500  That's a that's a very eloquent definition of 212 00:10:30.500 --> 00:10:33.300  taxol. Do you care to add that? Yeah. I I like that 213 00:10:33.300 --> 00:10:36.100  definition as well. Yeah. One thing I'd say is 214 00:10:36.100 --> 00:10:40.000  that I think there's again pretty broad agreement 215 00:10:39.300 --> 00:10:42.700  that long only tax loss harvesting 216 00:10:42.700 --> 00:10:45.300  does have a benefit to the portfolio 217 00:10:45.300 --> 00:10:48.500  and it might be, you know one to two percent maybe maybe 218 00:10:48.500 --> 00:10:51.500  two percent on you know, really good implementations call 219 00:10:51.500 --> 00:10:54.400  it one percent. But again that has a 220 00:10:54.400 --> 00:10:57.600  horizon that's gonna likely track down as your portfolio 221 00:10:57.600 --> 00:11:00.300  ossifies seizes up turns into 222 00:11:00.300 --> 00:11:03.600  our favorite word. No, you know, 223 00:11:03.600 --> 00:11:06.400  nothing with unrealized gains. So, you know, 224 00:11:06.400 --> 00:11:09.100  you're talking 1% dish in 225 00:11:09.700 --> 00:11:12.600 Long only tax less harvesting type of tax Alpha that 226 00:11:12.600 --> 00:11:15.300  that is going to go away in a handful 227 00:11:15.300 --> 00:11:18.700  of years, right? Thank you for that. One of 228 00:11:18.700 --> 00:11:21.800  the the questions and this is gonna go really to 229 00:11:21.800 --> 00:11:24.200  investment vehicle more so than anything else. I've heard 230 00:11:24.200 --> 00:11:27.400  investors say like 2022 for instance. 231 00:11:28.200 --> 00:11:31.400 Horrible, no good very bad year for investors Equity fixed 232 00:11:31.400 --> 00:11:35.100  income both down investors who hold actively 233 00:11:34.100 --> 00:11:36.800  managed mutual funds. 234 00:11:37.900 --> 00:11:38.900 having negative return 235 00:11:39.900 --> 00:11:42.500 But they also got a pretty hefty tax bill 236 00:11:42.500 --> 00:11:45.600  in some scenarios right capital gains distributions in 237 00:11:45.600 --> 00:11:48.500  December. So Phil when investors 238 00:11:48.500 --> 00:11:51.200  are looking at open-ended mutual funds what are 239 00:11:51.200 --> 00:11:54.700  some of the things that they should be considering from a tax efficiency standpoint, 240 00:11:54.700 --> 00:11:57.700  you raise a good point and to some extent 241 00:11:57.700 --> 00:12:00.300  those examples of you know, being down and 242 00:12:00.300 --> 00:12:03.600  having a gains distribution. That's an unlucky 243 00:12:03.600 --> 00:12:06.600  combination of a handful of things right like it comes 244 00:12:06.600 --> 00:12:09.300  down to perform some fun what the 245 00:12:09.300 --> 00:12:12.400  Redemption level was how the fun generates cash 246 00:12:12.400 --> 00:12:15.900  to meet those redemptions and whether 247 00:12:15.900 --> 00:12:18.600  or not that's kind of gain realizing 248 00:12:18.600 --> 00:12:21.700  lost real estate realizing or neutral history of 249 00:12:21.700 --> 00:12:24.500  the mutual funds experience can maybe give you 250 00:12:24.500 --> 00:12:28.000  some insight into that as well as the strategy whether 251 00:12:27.300 --> 00:12:30.500  it's going to be, you know tax efficient in 252 00:12:30.500 --> 00:12:33.800  a neutral kind of scenario and whether 253 00:12:33.800 --> 00:12:36.500  it's you know, growing or stable 254 00:12:36.500 --> 00:12:39.500  as opposed to, you know, shrinking with a lot of redemptions. 255 00:12:40.400 --> 00:12:43.800 you mentioned tack sorry investment vehicles so very often 256 00:12:43.800 --> 00:12:44.200  we 257 00:12:45.100 --> 00:12:48.600 We compare mutual funds and ETFs and there are some important differences 258 00:12:48.600 --> 00:12:51.300  there on the income side, they're pretty 259 00:12:51.300 --> 00:12:55.200  even right funds all funds have to distribute income and 260 00:12:55.200 --> 00:12:58.900  they can choose the frequency with which they do that. Some of 261 00:12:58.900 --> 00:13:01.500  the differences really come into play with capital gains 262 00:13:01.500 --> 00:13:04.400  realization. Now mutual funds to me 263 00:13:04.400 --> 00:13:07.300  to Redemption they have to do that with the cash in the fund. They might 264 00:13:07.300 --> 00:13:10.500  have enough cash. They might need to sell to realize that 265 00:13:10.500 --> 00:13:13.000  to fund that Redemption and some of 266 00:13:13.100 --> 00:13:16.900  the things I mentioned earlier, you know, whether they have enough cash what 267 00:13:16.900 --> 00:13:19.300  their tax Lots look like how their age 268 00:13:19.300 --> 00:13:22.600  how they're Diversified how the fund's been performing, you know 269 00:13:22.600 --> 00:13:25.300  frequency and magnitude of redemptions all that will 270 00:13:25.300 --> 00:13:28.600  kind of impact whether or not you're end. They have realized 271 00:13:28.600 --> 00:13:31.800  game they need to distribute or not with ETFs. 272 00:13:31.800 --> 00:13:34.400  There's a little more complexity in how they're traded 273 00:13:34.400 --> 00:13:38.100  and some of the some of the capital gains efficiencies. 274 00:13:37.100 --> 00:13:40.400  So you and I can trade an ETF 275 00:13:40.400 --> 00:13:43.300  on an exchange and that doesn't involve the fund at all, you know, you 276 00:13:43.300 --> 00:13:44.900  sell share I buy a share from you and 277 00:13:45.100 --> 00:13:49.000 The fund's not involved funds doesn't need to find cash pretty 278 00:13:48.300 --> 00:13:51.400  simple. But there are some transactions that do 279 00:13:51.400 --> 00:13:54.700  involve the fund, you know, something called authorized participants help 280 00:13:54.800 --> 00:13:57.300  ETFs trade efficiently 281 00:13:57.300 --> 00:14:00.900  and sometimes they'll redeem directly with the fund the 282 00:14:00.200 --> 00:14:03.100  ETF the ETF has a choice 283 00:14:03.100 --> 00:14:06.600  to you know, redeem in kind or give Securities to that 284 00:14:06.600 --> 00:14:09.500  redeeming entity, right and in 285 00:14:09.500 --> 00:14:12.400  doing that there's no transaction. There's no realization 286 00:14:12.400 --> 00:14:15.100  of of gains and it gets 287 00:14:15.100 --> 00:14:18.400  even more interesting because that the fun can choose 288 00:14:18.400 --> 00:14:22.300  which shares to redeem out and they can often redeem 289 00:14:21.300 --> 00:14:25.000  out the lowest cost basis shares. Thereby, you 290 00:14:24.400 --> 00:14:27.700  know creating a very tax efficient fund vehicle. 291 00:14:27.700 --> 00:14:31.200  The investors still needs to pay tax on their gain 292 00:14:30.200 --> 00:14:33.800  if they sell their shares, right, but the 293 00:14:33.800 --> 00:14:36.700  fund itself can get pretty creative in 294 00:14:36.700 --> 00:14:39.300  in reducing cap games realization. So, 295 00:14:39.300 --> 00:14:42.300  you know, it depends sometimes on the strategy, you know, 296 00:14:42.300 --> 00:14:44.900  fixing strategies might not be as 297 00:14:45.100 --> 00:14:48.600 Efficient in an ETF as as Equity strategies and some 298 00:14:48.600 --> 00:14:51.200  mutual funds can certainly be very tax efficient. So, you know, 299 00:14:51.200 --> 00:14:54.300  it comes down to you know, I think education getting the 300 00:14:54.300 --> 00:14:57.200  right investment strategy and then, you know also choosing the right vehicle 301 00:14:57.200 --> 00:15:00.800  now, that's that's really interesting and we've had conversations 302 00:15:00.800 --> 00:15:03.100  on the differences between ETFs and mutual funds on 303 00:15:03.100 --> 00:15:06.300  this podcast. And what's really fascinating to me again, 304 00:15:06.300 --> 00:15:09.300  I'm gonna use the term convenient byproduct the creation of 305 00:15:09.300 --> 00:15:12.900  redemption process of an ETF isn't designed 306 00:15:12.900 --> 00:15:15.700  for tax efficiency. It's designed to 307 00:15:15.700 --> 00:15:18.200  making sure that the 308 00:15:18.200 --> 00:15:21.300  nav is equal to the underlying basket of 309 00:15:21.300 --> 00:15:24.700  stocks in that process in itself makes ETFs 310 00:15:24.700 --> 00:15:26.100  extremely tax efficient. 311 00:15:26.900 --> 00:15:29.900 So it's not the goal but it is is something 312 00:15:29.900 --> 00:15:33.700  that you get through that process, which is interesting. Okay, 313 00:15:32.700 --> 00:15:35.300  so just kind of recap here for 314 00:15:35.300 --> 00:15:36.600  our investors. 315 00:15:38.400 --> 00:15:41.100 When considering your tax status with your 316 00:15:41.100 --> 00:15:44.700  portfolios consider what we call an evidence-based 317 00:15:44.700 --> 00:15:47.400  investment philosophy Buy and Hold that 318 00:15:47.400 --> 00:15:51.700  tends to lead to not only a greater likelihood of outperformance 319 00:15:50.700 --> 00:15:53.100  by staying the course, but it 320 00:15:53.100 --> 00:15:56.500  reduces frictions reduces transactions in 321 00:15:56.500 --> 00:16:00.400  the portfolio. Thus leading to a higher level of tax efficiency consider 322 00:15:59.400 --> 00:16:03.000  the vehicles that you're using when using 323 00:16:02.300 --> 00:16:06.100  open-ended mutual funds gravitate towards 324 00:16:05.100 --> 00:16:08.400  more passively managed growing mutual 325 00:16:08.400 --> 00:16:12.000  funds ETFs certainly have tax benefits and 326 00:16:11.200 --> 00:16:14.400  for those investors that are deploying a 327 00:16:14.400 --> 00:16:17.200  direct indexing strategy. There's certainly more 328 00:16:17.200 --> 00:16:21.100  opportunities through the sheer number of names to identify losses 329 00:16:20.100 --> 00:16:23.500  to perform ongoing tax loss harvesting 330 00:16:23.500 --> 00:16:26.200  and then lastly Glenn against thanks for 331 00:16:26.200 --> 00:16:29.700  joining us adding a long short 332 00:16:29.700 --> 00:16:33.100  extension a 1:30 strategy certainly can 333 00:16:32.100 --> 00:16:36.100  help not only from a diversification standpoint, 334 00:16:35.100 --> 00:16:37.200  but also from 335 00:16:38.300 --> 00:16:42.000 Alpha generating strategy. So Glenn. 336 00:16:41.200 --> 00:16:44.300  Thank you so much for your time Phil. Thank you for joining us 337 00:16:44.300 --> 00:16:47.200  here for our listeners. Thank you for for listening to 338 00:16:47.200 --> 00:16:50.200  us. You can access this podcast and all of 339 00:16:50.200 --> 00:16:53.900  our podcasts and our series anywhere you get your podcasts and 340 00:16:53.900 --> 00:16:56.000  I look forward to our conversation next time. Thank you 341 00:16:56.200 --> 00:16:59.800  so much gentlemen, thank you. Thanks Cemetery Partners. LLC 342 00:16:59.800 --> 00:17:02.600  is an investment advisor firm registered with 343 00:17:02.600 --> 00:17:05.400  the Securities and Exchange Commission The Firm only 344 00:17:05.400 --> 00:17:08.300  transacts business in states where it is properly 345 00:17:08.300 --> 00:17:11.600  registered or excluded or Exempted from 346 00:17:11.600 --> 00:17:14.300  registration requirements registration of 347 00:17:14.300 --> 00:17:17.400  an investment advisor does not imply any specific level 348 00:17:17.400 --> 00:17:20.600  of skill or training and does not constitute an 349 00:17:20.600 --> 00:17:23.700  endorsement of the firm by the commission. No one 350 00:17:23.700 --> 00:17:27.200  should assume that future performance of any specific investment investment 351 00:17:26.200 --> 00:17:30.200  strategy product or non-investment 352 00:17:29.200 --> 00:17:32.000  related content made reference to 353 00:17:32.600 --> 00:17:35.600  directly or indirectly in this material will be profitable. 354 00:17:36.600 --> 00:17:39.100 As with any investment strategy there is the 355 00:17:39.100 --> 00:17:42.700  possibility of profitability as well as loss due 356 00:17:42.700 --> 00:17:45.400  to various factors including changing market 357 00:17:45.400 --> 00:17:47.800  conditions and/or applicable laws. 358 00:17:48.600 --> 00:17:51.700 Content may not be reflective of current opinions 359 00:17:51.700 --> 00:17:54.800  or positions. Please note the material 360 00:17:54.800 --> 00:17:57.200  is provided for educational and background use 361 00:17:57.200 --> 00:18:00.700  only moreover. You should not assume that any discussion or 362 00:18:00.700 --> 00:18:03.800  information contained in this material serves as 363 00:18:03.800 --> 00:18:06.400  the receipt of or as a substitute for 364 00:18:06.400 --> 00:18:08.900  personalized investment advice.

The Steve Gruber Show
Steve Gruber, Democrats have realized a decade long goal to repeal the pension tax and restore some tax cuts had to happen

The Steve Gruber Show

Play Episode Listen Later Mar 8, 2023 11:00


Steve Gruber discusses news and headlines. 

SDPB News
Lawmakers whittle down tax cut proposals | Mar 07

SDPB News

Play Episode Listen Later Mar 8, 2023 6:40


Each day, SDPB brings you statewide news coverage. We then compile those stories into a daily podcast.

In the Moment
Truth in labeling & the brief resurrection of the food tax cut

In the Moment

Play Episode Listen Later Mar 7, 2023 48:02


In the Moment dives into two proposals that would affect your grocery store trips. Learn about truth in labeling and the short second life of the food tax cut.

EpochTV
Economist: ‘Revolution' in States' Tax Cuts

EpochTV

Play Episode Listen Later Mar 7, 2023 25:28


West Virginia's governor is expected to sign a bill that passed the state House this weekend. According to the Wall Street Journal, the bill would cut income tax rates by about 21 percent altogether. In Utah, the state legislature approved a $400 million tax cut package. Axios reports, if Utah's governor signs it, it could save a family earning $80,000 over $200 per year. According to the Tax Foundation, 21 states have cut income tax rates since 2021. NTD spoke with Jonathan Williams, chief economist at the American Legislative Exchange Council (ALEC). ALEC is a nonpartisan organization of state legislators who draft and share model legislation for distribution among state governments. Williams says it's been an “incredible two years of tax cuts” and there's been a “revolution” across the states in tax cuts: “States decided to get rid of their formerly progressive income tax codes, and stop penalizing people for being more successful and in their states and stop penalizing small businesses.” He also said states are saying they “need to provide a counterbalance to what's going on in Washington with taxes going up and proposals for even higher taxes.” President Joe Biden on Tuesday proposed increasing the Medicare tax rate from 3.8 to 5 percent on those earning more than $400,000 a year. ⭕️ Watch in-depth videos based on Truth & Tradition at Epoch TV

Mom Autism Money
Disability Discharge of Federal Student Loans

Mom Autism Money

Play Episode Listen Later Mar 7, 2023 56:41


Average student loan debt is nearly $40,000 -- per person! This economic burden can massively impact all the other money moves you make in your life.  Luckily, there is a disability discharge program for federal student loans, and more people qualify than you might think. Plus, the program is getting a lot easier to navigate, with some big, positive changes promised starting in July 2023.  Today, we'll talk to Heather Watkins, a writer and disability advocate who successfully had her student loans discharged through this program. We're also joined by Persis Yu, Deputy Executive Director and Managing Counsel of the Student Borrower Protection Center, who has been instrumental in advocating for improvements to the program and for student loan borrowers at large.  By the end of this episode, you'll have a better idea of who qualifies for this program, how it's expected to function after this summer, and what it may or may not mean as your child is figuring out how to finance their own education. This episode is also great for anyone who may qualify for the discharge program due to their own disability -- it's not just for parents.  Follow Heather's Work: http://slowwalkersseemore.com/ Utilize resources from Persis and her peers at the SBPC: https://www.cancelmystudentdebt.org/ Where to get started with the Disability Discharge program for federal student loans: https://studentaid.gov/manage-loans/forgiveness-cancellation/disability-discharge Currently, loan amounts canceled through this program are not counted as taxable income. But that could change on Jan. 1, 2026 if this portion of tax law isn't extended. Contact your congressperson and Senator to request that this provision be extended. You can find your senator and congressperson here: https://www.lwv.org/take-action/find-your-elected-officials And if you want to provide the specific provision you want to see extended to your representatives, it's Section 11031 of the Tax Cuts and Jobs Act: https://www.congress.gov/bill/115th-congress/house-bill/1/text Connect with your local Center for Independent Living for resources here: https://acl.gov/programs/centers-independent-living/list-cils-and-spils Heather references Mass Rehab Commission, which is a vocational rehabilitation program in Massachusetts. Voc rehab programs can help disabled people pay for college depending on your state. We covered voc rehab in this episode: https://momautismmoney.com/vocational-rehabilitation/ And you can find your state's vocational rehabilitation program here: https://rsa.ed.gov/about/states Want to consolidate your old loans to take advantage of the recount of payments for student loan forgiveness that Persis was talking about? Here's where you can find the consolidation application (must be done by May 1, 2023  or earlier to qualify for this specific program): https://studentaid.gov/app/launchConsolidation.action Here is more detailed information on the IDR Account Adjustment and how it might affect you as a borrower: https://www.cancelmystudentdebt.org/income-driven-repayment Full Episode Transcript: https://momautismmoney.com/disability-discharge/  

The Signal
What the 'stage 3 tax cuts' mean for you

The Signal

Play Episode Listen Later Mar 6, 2023 12:32


With the growing cost of living, we'd all love to pay less in income tax.  So why is there a growing number of people arguing against the so-called 'stage 3 tax cuts'?  Today, the host of ABC Radio National Breakfast, Patricia Karvelas, explains the biggest shake up to income tax in decades, and how the wealthier you are the better you'll do.  Featured:  Patricia Karvelas, host, ABC Radio National Breakfast 

news podcasts tax cuts patricia karvelas
The KOSU Daily
Tax cut legislation, winter fuel cost lawsuit, OKC transportation funding and more

The KOSU Daily

Play Episode Listen Later Mar 6, 2023 7:45


Grocery tax cut legislation advances at the State Capitol.Lawsuits are getting filed over winter storm fuel costs from 2021.The federal government helps central Oklahoma with infrastructure costs.You can find the KOSU Daily wherever you get your podcasts, you can also subscribe, rate us and leave a comment.You can keep up to date on all the latest news throughout the day at KOSU.org and make sure to follow us on Facebook, Twitter and Instagram at KOSU Radio.This is The KOSU Daily, Oklahoma news, every weekday.

SDPB News
Senate, House, governor draw lines in tax cut battle | Mar 03

SDPB News

Play Episode Listen Later Mar 3, 2023 13:11


Each day, SDPB brings you statewide news coverage. We then compile those stories into a daily podcast.

Rod Arquette Show
Rod Arquette Show: Rep Steve Eliason and Utah Tax Cut; Marlo Oaks Utah State Treasurer on ESG Legislation

Rod Arquette Show

Play Episode Listen Later Mar 3, 2023 104:02


Inside Sources with Boyd Matheson
Marty & Taylor: Tax Cuts, Housing, and More with President Stuart Adams

Inside Sources with Boyd Matheson

Play Episode Listen Later Mar 3, 2023 10:23


Guest Hosts: Marty Carpenter and Taylor Morgan live from the State Capitol Just how impactful has the 2023 Legislative session been? According to Senate President Stuart Adams, very.  He joins Marty and Taylor to talk lawmakers' work on tax cuts, housing, and more. See omnystudio.com/listener for privacy information.

Weaver: Beyond the Numbers
What the Changes to IRS's Code Section 174 Means for Taxes This Year

Weaver: Beyond the Numbers

Play Episode Listen Later Mar 3, 2023 14:22


For businesses, tax season can be especially stressful, given the weight of information to prepare and consider, along with various changes coming from the IRS. The Tax Cuts and Jobs Act of 2017 amended Code Section 174, whereby requiring companies to capitalize and amortize costs for their R&D expenses starting in the 2022 tax year. Prior to this amendment, companies were able to fully deduct their qualified R&D expenses in a given tax year. What do companies need to know about their taxes regarding R&D expenses moving forward? In a new episode of “On the Shop Floor,” hosts Colby Horn and Jody Allred, both Partners-in-Charge of Manufacturing, Distribution, and Retail Services at Weaver, interviewed Nancy Imholte, Director of R&D Tax Credit Services, and Kurtis Dixon, Tax Services Partner. The group discussed steps they recommend to their clients to implement the changes to 174 and how it will affect this and future year's tax filings. The four also talked about …. The requirements of Code Section 174 and some of the uncertainty about what is and is not included; The impact on tax provision calculations for C-Corps; What this amendment now means for the future of expenses for R&D; and The need to keep clients informed about how Code Section 174 will impact the way they file taxes this year. Imholte explained the consequences of the changes, “It's just trying to figure out a way to show that at a minimum you've got to capitalize whatever you have qualified as R&D tax credit cost. But it's really broader than that [qualifying R&D tax credit cost] of what should be capitalized. It's important to make sure they are actually making the right change in their reporting. If we're not their tax preparer, their tax preparer needs to be made aware of that change and it needs to be reported on returns.” Imholte went on to mention that companies need to look at their R&D credits “a lot earlier to make sure that when they are filing their extensions that all of their payments are made to minimize any penalties…and then that if you have tax provision that you will need that information as well so that you can have all of that included in your [calculations].” With regards to the impact on tax provisions calculations, Dixon added, “In theory, you're going to pay more taxes on your tax return. You have this big expense that now, for tax purposes, is being amortized over this 5-year, maybe 15-year period, depending on what it is. So, you're going to have higher taxable income, lower expenses, and you're going to have this deferred tax asset that will flip. Nancy Imholte has 20 years of public accounting experience, 11 of which have been with Weaver, and currently leads research and development (R&D) tax credit services for Weaver. She works with clients to determine their eligibility for R&D credits and performs the necessary calculations. Nancy also provides tax planning consultation and helps clients resolve issues with federal and state authorities. Nancy earned a bachelor's degree in accounting from Texas Lutheran University. Kurtis Dixon has more than 15 years of experience in public accounting and focuses on providing tax compliance, planning and consulting services to Corporations, S Corporations, Partnerships and individuals. Kurtis also has experience with preparation and review of income tax provisions. He earned his bachelor's degree in accounting, master's degree in taxation and master of business administration degrees all from the University of Texas at Arlington.

SDPB News
Noem questions if budget is 'worthy' without food tax cut | Mar 01

SDPB News

Play Episode Listen Later Mar 1, 2023 10:42


Each day, SDPB brings you statewide news coverage. We then compile those stories into a daily podcast.

Retire Confidently Podcast
It's easy to make a misstep when it comes to taxes

Retire Confidently Podcast

Play Episode Listen Later Feb 27, 2023 17:45


Most of the benefits from the Tax Cuts and Jobs Act of 2017 will expire in 2025. What is your plan to take advantage of these benefits? Did your eyes just gloss over from not understanding what we are talking about? It's ok that you don't understand every word and statute within TCJA – Where you start to get in to trouble is if you don't understand how that will impact your retirement and money moving into the future.It's easy to make a wrong step in regards to your retirement and taxes.  Are you getting what you want or are you putting yourselves in a position someone could try and get the better of you? Find out more about the Retire Confidently ProgramPurchase The Secure Solution: Creating a High-Quality Retirement in a Low-Interest-Rate World Telton W Hall, CFP® is a husband, father, retirement planning expert, small-town-boy at heart, nationally published author, sought-after speaker, former college basketball player, founder/owner/team member of Utah based Advanced Financial Planning LLC, hiking enthusiast, Jesus follower, business leader, team builder, and to the core Telton is an educator.

SDPB News
Funding, tax cuts, nursing homes to round out final weeks of session | Feb 27

SDPB News

Play Episode Listen Later Feb 27, 2023 17:56


Each day, SDPB brings you statewide news coverage. We then compile those stories into a daily podcast.

The Mike Broomhead Show Audio
Why was a rental tax cut vetoed?

The Mike Broomhead Show Audio

Play Episode Listen Later Feb 24, 2023 31:12


Mike discusses Governor Hobbs' vetoing a rent-tax cut bill.See omnystudio.com/listener for privacy information.

TheWrap@NCCapitol
Moore's rammed vehicle, tax cuts, new Lindberg indictment, and Medicaid in the Senate

TheWrap@NCCapitol

Play Episode Listen Later Feb 24, 2023 29:01


WRAL state government reporters Will Doran and Travis Fain talk about the rammed SUV carrying House Speaker Tim Moore, culture-war bills that moved this week, and potentially important agency bills that were filed. They also discuss the upcoming state budget and tax news.

The Best Storyteller In Texas Podcast
Fan Favorite Friday: What You Don't Know About The Reagan Tax Cut

The Best Storyteller In Texas Podcast

Play Episode Listen Later Feb 24, 2023 17:06


This week's Fan Favorite is from June 2021.  The late State Senator Babe Schwartz is on a mission to get a gun but winds up with some unforgettable advice from the sheriff. Kent Hance shares what really happened that led to the passing of Reagan's historic tax cut. He also highlights what has changed in politics that makes compromise harder to come by these days. A four-star general reveals the terrifying truth explaining how helicopters, like Marine One, are able to fly. Tell us your favorite Kent Hance Story. Send a Direct Message. Facebook @kenthancethebeststorytellerintexas Twitter @KentRHance Instagram @Beststorytellerpodcast

SDPB News
House advances overall sales tax cut | Feb 23

SDPB News

Play Episode Listen Later Feb 23, 2023 15:25


Each day, SDPB brings you statewide news coverage. We then compile those stories into a daily podcast.

KCPW | Salt Lake City News and Information | 88.3 FM
Former President Jimmy Carter, Utah’s NBA All-Star game and the fight over state tax cuts

KCPW | Salt Lake City News and Information | 88.3 FM

Play Episode Listen Later Feb 23, 2023 25:40


Both Sides of the Aisle – Natalie Gochnour is joined on The Right by John Dougall, Utah State Auditor, and on The Left by Shireen Ghorbani, former Salt Lake County Council member. The hosts discuss former President Jimmy Carter entering hospice care, Dominion Voting Systems' fraud claim against Fox News, the environmental disaster in East Palestine,…

Jeff Katz
Trump era tax cuts are possibly expiring

Jeff Katz

Play Episode Listen Later Feb 22, 2023 13:19


Carl Carlson of Carlson Financial joined Jeff Katz to talk about the Trump era tax cuts that are possibly going to expire and more!

This Week in the CLE
Today in Ohio - Feb. 20, 2023 The numbers don't lie: the Ohio House Republican tax cut proposal mainly benefits the wealthy

This Week in the CLE

Play Episode Listen Later Feb 20, 2023 34:05


Learn more about your ad choices. Visit megaphone.fm/adchoices

TheWrap@NCCapitol
Gun bills and Medicaid expansion move. Are tax cuts coming soon?

TheWrap@NCCapitol

Play Episode Listen Later Feb 17, 2023 28:42


This week Laura WRAL Capitol Bureau Chief Laura Leslie and WRAL State Government Reporter Travis Fain break down another busy week at the North Carolina General Assembly and look ahead to next week. What's next on Medicaid? What sort of raises should state employees and teachers expect? And, after another multibillion-dollar surplus in the state budget, is another tax cut in the offing? They also discuss potential candidates for attorney general.

Jeff Caplan's Afternoon News
Governor Spencer Cox on the income tax cut talks and possibly phasing them out altogether

Jeff Caplan's Afternoon News

Play Episode Listen Later Feb 17, 2023 4:42


See omnystudio.com/listener for privacy information.

tax cuts income taxes phasing governor spencer cox
Jeff Caplan's Afternoon News
The 5 O'clock Report: Utah lawmakers tease tax cuts, Two missionaries for the Church of Jesus Christ of Latter Day Saints go missing after cyclone

Jeff Caplan's Afternoon News

Play Episode Listen Later Feb 17, 2023 24:57


AICPA Town Hall
DC updates and managing clients impacted by Sec.174 R&E

AICPA Town Hall

Play Episode Listen Later Feb 16, 2023 62:05


  Topics   DC and profession developments   Managing clients impacted by Sec. 174 R&D of the Tax Cuts and Jobs Act     Speakers   Barry Melancon, President and CEO, AICPA   Erik Asgeirsson, President and CEO, CPA.com     Lisa Simpson, VP, Firm Services, AICPA   Mark Peterson, EVP-Advocacy at AICPA  Chris Wittich, Partner at Boyum Barenscheer   

West Virginia Morning
Tax Cuts And State Poet Laureate Talks Career On This West Virginia Morning

West Virginia Morning

Play Episode Listen Later Feb 13, 2023


On this West Virginia Morning, the biggest story to watch at the West Virginia Legislature this week will be proposed tax cuts. Last Friday, WVPB‘s Chris Schulz and Curtis Tate sat down with Leah Willingham from the Associated Press for a reporter roundtable on The Legislature Today. The post Tax Cuts And State Poet Laureate Talks Career On This West Virginia Morning appeared first on West Virginia Public Broadcasting.

career west virginia associated press tax cuts poet laureate last friday west virginia public broadcasting chris schulz wvpb
SDPB News
Noem weighs in on competing tax cut proposals | Feb 09

SDPB News

Play Episode Listen Later Feb 9, 2023 10:29


Each day, SDPB brings you statewide news coverage. We then compile those stories into a daily podcast.

VPM Daily Newscast
02/08/23 - Budget proposals differ on tax cuts, spending priorities

VPM Daily Newscast

Play Episode Listen Later Feb 8, 2023 6:58


Sunday, committees in the House and Senate approved very different budgets. Those budgets hit legislators' desks yesterday; The commonwealth's 20.6% recidivism rate is the second lowest in the country, according to the Virginia Department of Corrections; Virginia's General Assembly hit the half-way point in its regular session Tuesday with a flurry of votes on hundreds of bills; and other local news stories.

Long Story Short
State of the State 5.0: Vouchers, tax cuts and more

Long Story Short

Play Episode Listen Later Feb 7, 2023 20:04


Oklahoma Watch reporter Paul Monies reviews the governor's State of the State speech. Ari Fife previews a spate of bills targeting LGBTQ Oklahomans, and Paul Monies comes back to talk about our joint investigation with KWTV News 9 into the higher energy bills Oklahoma consumers will be paying for decades. Executive director Ted Streuli hosts.

The Steve Gruber Show
State Rep. Andrew Fink, 35th District, Michigan Dems scheme to prevent state income tax cut

The Steve Gruber Show

Play Episode Listen Later Feb 6, 2023 11:00


State Rep. Andrew Fink, 35th District. Michigan Dems scheme to prevent state income tax cut

The Steve Gruber Show
Scot Bertram, Whitmer's tax cuts

The Steve Gruber Show

Play Episode Listen Later Feb 6, 2023


Scot Bertram discusses news and headlines. 

tax cuts whitmer scot bertram
KNBR Podcast
How You Could Have More Control Over Your Taxes Than You Might Think

KNBR Podcast

Play Episode Listen Later Feb 6, 2023 40:59


It's easier to plan for and control when taxes are paid than you might think. People are often surprised to discover that taxes are one of their biggest expenses in retirement. For many, the assumption is that once they retire and their paychecks stop coming, taxes would go down.  Reducing the taxes you pay in retirement means you likely will need to withdraw less money from your savings each year to cover expenses. As a result, your savings may last longer, leaving more money available to spend on things you enjoy. While most people understand this, many often fail to fully appreciate the control they could have over taxes. People who acquire large amounts of wealth often recognize that many strategies exist to control when taxes will be paid. More important is the realization that by timing when taxes are paid, opportunities arise to also control the amount of those taxes. With the planned sunsetting of the 2018 Tax Cuts and Job Acts and concern that tax rates might be rising in the future, now is an ideal time to understand the extent of your control over your taxes and how this might lead to a more confident and enjoyable lifestyle now—not to mention your retirement.  Plus, U.S. stock markets rose, but gains have evaporated a bit with the Fed's most recent rate hike and data pointing to a tight labor market. Central banks are also becoming more nuanced in their fight against inflation. Consumers are still out there, the economy is still moving ahead, unemployment obviously still positive, but a recession could still be on the horizon. All this and more on Protect Your Assets this week.    You can send your questions to questions@pyaradio.com for a chance to be answered on air.     Catch up on past episodes: http://pyaradio.com     Interact with Protect Your Assets on Amazon Alexa: https://libertygroupllc.com/voice    Liberty Group website: https://libertygroupllc.com/    Attend an event: www.pyaevents.com   Schedule a complimentary 15-minute consultation: https://calendly.com/libertygroupllc/scheduleacall/  See omnystudio.com/listener for privacy information.

Protect Your Assets
How You Could Have More Control Over Your Taxes Than You Might Think

Protect Your Assets

Play Episode Listen Later Feb 6, 2023 40:59


It's easier to plan for and control when taxes are paid than you might think. People are often surprised to discover that taxes are one of their biggest expenses in retirement. For many, the assumption is that once they retire and their paychecks stop coming, taxes would go down.  Reducing the taxes you pay in retirement means you likely will need to withdraw less money from your savings each year to cover expenses. As a result, your savings may last longer, leaving more money available to spend on things you enjoy. While most people understand this, many often fail to fully appreciate the control they could have over taxes. People who acquire large amounts of wealth often recognize that many strategies exist to control when taxes will be paid. More important is the realization that by timing when taxes are paid, opportunities arise to also control the amount of those taxes. With the planned sunsetting of the 2018 Tax Cuts and Job Acts and concern that tax rates might be rising in the future, now is an ideal time to understand the extent of your control over your taxes and how this might lead to a more confident and enjoyable lifestyle now—not to mention your retirement.  Plus, U.S. stock markets rose, but gains have evaporated a bit with the Fed's most recent rate hike and data pointing to a tight labor market. Central banks are also becoming more nuanced in their fight against inflation. Consumers are still out there, the economy is still moving ahead, unemployment obviously still positive, but a recession could still be on the horizon. All this and more on Protect Your Assets this week.    You can send your questions to questions@pyaradio.com for a chance to be answered on air.     Catch up on past episodes: http://pyaradio.com     Interact with Protect Your Assets on Amazon Alexa: https://libertygroupllc.com/voice    Liberty Group website: https://libertygroupllc.com/    Attend an event: www.pyaevents.com   Schedule a complimentary 15-minute consultation: https://calendly.com/libertygroupllc/scheduleacall/  See omnystudio.com/listener for privacy information.

KSL at Night
What Do These ‘Historic Tax Cuts' Mean for Utah

KSL at Night

Play Episode Listen Later Feb 4, 2023 8:55


Hosts: Leah Murray and Greg Skordas Utah legislators have promised big tax cuts this year, and it would be the third year in a row of tax cuts by the legislature. Taylor Morgan, Partner at Morgan & May Affairs, calls the show to discuss what the Utah legislature could have planned this year.See omnystudio.com/listener for privacy information.

Passive Wealth Strategies for Busy Professionals
Wipe Out Capital Gains Taxes through Opportunity Zones with Ashley Tison

Passive Wealth Strategies for Busy Professionals

Play Episode Listen Later Feb 2, 2023 34:10


Taylor Lot and Ashley Tison dive into the world of Opportunity Zones and discuss the advantages of investing in these areas. From tax reductions to a step up in basis to fair market value, Opportunity Zones provide an incredible opportunity for real estate investors. We also hear Ashley's story of how his investment in a mobile home park allowed him to launch a gun company and pursue impact investing, as well as gain valuable education from it. They provide advice for those wanting to get involved with Opportunity Zones and offer helpful tips on how to get started. Tune in now to learn more about this amazing program and how you can benefit from investing in Opportunity Zones.   [00:01 - 08:14] Opening Segment Opportunity Zones was created by the Tax Cut and Jobs Act of 2017 If invested for a certain period, investors can reduce taxes paid on those gains in 2026 Step up and basis to fair market value eliminates capital gains and depreciation recapture Tax-free compound interest coupled with cost segregation and bonus depreciation is the ninth wonder of the world   [08:15 - 17:18] Invest in Main Street America with Generational Wealth Through Opportunity Zones Opportunity Zones is still in effect until December 31st, 2026. Legislation is pending to extend the program out for two years till December 31st, 2028 Investors can avail themselves of a 15% reduction in taxes if they invest for seven years before the expiration date Step up and basis to fair market value can be availed of up till December 31st, 2026 Investors have 25 years from now to hold onto these assets and let them grow tax-free To get the step up and basis, investors need to transact with a third party or sell   [17:19 - 27:38] Salvaging Failed 1031 Exchanges with Opportunity Zones: A Powerful Distinguisher for Estate Planning Opportunity Zones do not require identifying opportunities before selling Investment can be in real estate, operating businesses, startups, or businesses outside of the zone Exchanges must identify opportunities before selling and applies toward a lifetime exemption amount Opportunity Zones apply whatever amount initially invested against the lifetime exemption amount Opportunity Zone Funds allow for the purchase of 95% of complete investment property Tax benefits include a step into original use and no depreciation recapture on the sale [27:39 - 34:10] Closing Segment How Ashley learned the cyclicality of the gun business and what not to do Riches are in the niches - niche down and focus on the main thing Stay focused on the main thing and don't get distracted by shiny objects Connect with Ashley Tison: Email: ashley@ozpros.com Website: www.OZPros.com/taylor/    Invest passively in multiple commercial real estate assets such as apartments, self-storage, medical facilities, hotels, and more through https://www.passivewealthstrategy.com/crowdstreet/ Participate directly in real estate investment loans on a fractional basis. Go to www.passivewealthstrategy.com/groundfloor/ and get ready to invest on your own terms. Join our Passive Investor Club for access to passive commercial real estate investment opportunities. LEAVE A REVIEW + help someone who wants to explode their business growth by sharing this episode or click here to listen to our previous episodes           Quotes:   "Tax-free compound interest is the eighth wonder of the world. But cap coupling that in with cost  segregation and bonus depreciation is the ninth wonder of the world." - Ashley Tison   "It's not about the capital gain that you have now. It's about the capital gain that you anticipate having in the future." - Ashley Tison

The KOSU Daily
COVID education funds, tax cuts, tribal diabetes prevention and more

The KOSU Daily

Play Episode Listen Later Feb 1, 2023 5:45


The state's top prosecutor takes on COVID relief funds intended for education needs.Republican lawmakers look to tax cuts in the coming session.Oklahoma tribes are getting help to tackle diabetes.You can find the KOSU Daily wherever you get your podcasts, you can also subscribe, rate us and leave a comment.You can keep up to date on all the latest news throughout the day at KOSU.org and make sure to follow us on Facebook, Twitter and Instagram at KOSU Radio.This is The KOSU Daily, Oklahoma news, every weekday.

My Old Kentucky Podcast
Jason Bailey of KY Policy on Tax Cuts, and Craig Greenberg's Plan For Homelessness

My Old Kentucky Podcast

Play Episode Listen Later Feb 1, 2023 56:53


Jason Bailey joined Robert and Jazmin this week to talk about 2023's HB 1, which is a tax cut. The conversation was specifically about that bill and the issues it could create for Kentucky's budget, but also about tax issues in general, and how KY Policy works with the legislature. Robert talked about the Greenberg administration's new plan to address homelessness, which includes several parts.

Your Wealth, Your Legacy
EP 17: SECURE Act 2.0: New Tax Law, New Opportunities!

Your Wealth, Your Legacy

Play Episode Listen Later Feb 1, 2023 18:10


Beginning with the Tax Cuts and Jobs Act otherwise known as “Trump Tax Reform” that was passed at the end of 2017, Americans have seen significant new tax legislation passed almost annually. As we enter 2023, it appears the rate of change in tax and retirement rules is not about to slow down anytime soon with President Biden signing the SECURE Act 2.0 into law on December 29th, 2022. In this episode, we discuss how the Secure Act 2.0 makes significant changes that will impact retirement and tax planning for many families and will provide new opportunities for those who proactively adjust to the changes. If you are approaching retirement or reviewing your own tax planning strategy, we think you'll enjoy this episode. Thanks for listening! For those who are interested in even more detail about the SECURE Act 2.0, check out our blog post covering the same topic at https://pw-wm.com/learn/tax-planning/secure-act-2-0-new-tax-law-new-opportunities/.

LSR Sports Betting & News Podcast
LSR Podcast Ep. 180 - Books Threaten Worse Odds In New York Without Tax Cut

LSR Sports Betting & News Podcast

Play Episode Listen Later Feb 1, 2023 19:03


A hearing in New York featured sportsbook executives pleading for a lower tax rate and hinting at consequences if they don't get their wish (0:49). The crew also looks at the revamped PointsBet-NBC deal and Intralot's latest struggles with sports betting, this time in Ohio (8:28).

David Harvey's Anti-Capitalist Chronicles
Making Sense of Today's Inflation - Debt, Austerity and Tax Cuts

David Harvey's Anti-Capitalist Chronicles

Play Episode Listen Later Jan 26, 2023 30:19


In this episode of Anti-Capitalist Chronicles, Prof. Harvey uses the diagram of capital's circulatory processes, shared in the last episode, and applies it to the pressing issue of inflation today. Harvey draws parallels to how inflation was handled during the Reagan and Thatcher administrations, with austerity politics and the resulting reduced standard of living for the working class. These attacks on social expenditures were explained as  necessary to curb inflation, yet there is much more to the story. By utilizing the framework of capital's circulation within a capitalist mode of production, Harvey reveals the many possible causes of inflation and how public policy often has hidden intentions.  To download the diagram: https://www.dropbox.com/s/qcd7k6so6v4jhss/capitalism-cycle.pdf?dl=0 Support Anti-Capitalist Chronicles and Democracy at Work on Patreon at www.patreon.com/democracyatwork  

Daily News Brief
Daily News Brief for Wednesday, January 25th, 2023

Daily News Brief

Play Episode Listen Later Jan 25, 2023 15:00


https://www.facebook.com/CrossPolitic/videos/849469106279608/ - Play 26:41-27:11 Yeah that’s me everyone… and Knox… what the heck? Why are you so surprised I can be funny? Anyways… I just had to share that from our most recent show Darren Doane on Kinism (Kincest?), Racism, Christian Nationalism… you can find that in our Fight Laugh Feast App, on Youtube, Facebook, etc. But y’all, if you really want to help us in our fight against secular media, sign up for a club membership, at fightlaughfeast.com. We couldn’t do what we do, without your support, so again, that’s fightlaughfeast.com, and sign up for a club membership today. https://www.theepochtimes.com/democrat-policies-to-burden-american-businesses-with-higher-taxes-this-year_5006782.html?utm_source=partner&utm_campaign=BonginoReport Democrat Policies to Burden American Businesses With Higher Taxes This Year Businesses in the United States are set to face a bigger federal tax burden in 2023 due to Democrat policies and the phasing out of Republican tax overhauls, combined with an expected raise in corporate minimum tax for billion-dollar companies. The Inflation Reduction Act (IRA) included several changes due to which businesses will face higher taxes. In addition, some of the temporary provisions in the 2017 Tax Cuts and Jobs Act (TCJA) enacted under the Trump administration are set to get phased out in 2023. The Joint Committee on Taxation estimates that the total effect of these two developments would result in additional tax increases of $115 billion for businesses. The new corporate minimum tax charges a 15 percent levy on American businesses that make more than $1 billion in book income in a year for three consecutive years. As a result, the average effective tax rate on corporate income is expected to rise from 18.7 percent to 19.3 percent. Around 200 of America’s biggest companies with more than $1 billion in profits are likely to be affected by the corporate minimum tax. They usually pay less than the 21 percent tax typically charged on firms. In addition, the minimum tax rule will also apply to foreign firms that generate over $100 billion in book income in the United States. Companies that meet the conditions under this new tax policy must calculate their taxes in two ways: under the 15 percent corporate minimum tax rule and the 21 percent income tax rule. They must then pay the higher tax. Businesses operating in sectors like mining and real estate are expected to be the hardest hit by this change. The stock buyback tax levies a 1 percent charge on publicly traded firms when they repurchase stocks. Some experts estimate that this tax will end up forcing businesses to maintain more cash on their company books when the money could have gone for investment. Strategists at UBS calculate the two taxes will be a drag on company earnings this year, estimating a 1.5 percent decrease per share in firms listed on the benchmark S&P 500 Index. https://www.breitbart.com/politics/2023/01/24/josh-hawley-to-propose-legislation-banning-tiktok-nationwide/ Josh Hawley to Propose Legislation Banning TikTok Nationwide Sen. Josh Hawley (R-MO) said on Tuesday he will introduce legislation to ban TikTok nationwide, charging that it violates the privacy of Americans. Hawley for years has moved to rein in TikTok. Sens. Hawley and Rick Scott (R-F) proposed legislation in March 2020 that would ban TikTok from all federal government devices, citing cybersecurity concerns and possible spying by the Chinese government. Congress passed Hawley’s bill to ban TikTok, which was signed into law on December 29, 2022. The bill was included in the $1.7 trillion, 4,155-page omnibus spending bill. Hawley has questioned tech executives about their companies’ potential compliance with Chinese law that could provide the Chinese Communist Party access to data that could endanger Americans’ privacy. Public officials and pundits across the political spectrum have contended that TikTok amounts to a national security concern. https://twitter.com/i/status/1191863214096703489 - Play 0:00-0:50 Since Hawley and Scott proposed their legislation to ban TikTok on federal government devices, many states, such as Georgia, Montana, Alabama, and Iowa, have moved to ban the controversial Chinese social media app off of their state government devices. https://www.foxnews.com/politics/vice-president-mike-pence-discovered-classified-documents-indiana-home Former Vice President Mike Pence discovered classified documents in Indiana home Former Vice President Mike Pence informed Congress on Tuesday that he discovered documents bearing classified markings from his time as vice president in his Carmel, Indiana, home on Jan. 16. Following the revelations that classified documents from President Joe Biden's tenure as vice president were found at the Penn Biden Center think tank and Wilmington, Delaware, Pence's team conducted searches of Pence's Indiana home and the office of his political advocacy group, Advancing American Freedom. According to his team, Pence informed the National Archives on Jan. 18 that a small number of potential classified documents were found in two small boxes. Another two boxes contained copies of vice presidential papers. The National Archives then informed the FBI, per standard procedure. Pence attorney Greg Jacob wrote on Jan. 18 to Acting Director Kate Dillon McClure of the White House Liaison Division National Archives and Records Administration to inform her of the papers "containing classified markings." After the documents with classified markings were discovered, they were immediately put into a safe, according to the Pence team. The documents were collected by the FBI at Pence's home in Carmel, Indiana, on Thursday evening, Jan. 19. Pence was in Washington, D.C., for the annual March for Life when the FBI collected the documents. Pence's team said that although the documents bear classified markings, the Department of Justice or the agency that issued the documents will need to make a final determination on whether the documents are considered classified or not. According to a letter from Jacob to Chief Operating Officer William Bosanko of the National Archives and Records Administration on Jan. 22, the DOJ departed from its standard procedures that it ran with Biden when it requested direct possession of the documents on Jan. 19. Other documents that were not identified as potential classified documents were driven from Indiana to the National Archives in Washington, D.C. No classified docs were found at Pence's Advancing American Freedom office. The House Oversight Committee confirmed to Fox News Digital that Chairman James Comer, R-Ky., was notified by Pence's team Tuesday regarding the discovery of classified documents in his personal residence. Dime Payments Dime Payments is a Christian owned processing payment business. Every business needs a payment process system, so please go to https://dimepayments.com/flf and sign your business up. Working with them supports us. They wont cancel you, like Stripe canceled President Trump. They wont cancel you, like Mailchimp canceled the Babylon Bee. Check them out. At least have a phone call and tell them that CrossPolitic sent you. Go to https://dimepayments.com/flf. https://www.rt.com/news/570436-uk-excess-deaths-investigation-mps/ British MPs call for probe into massive spike in deaths Nearly 3,000 more Britons are dying than average on a weekly basis, and it’s not Covid-19 that’s responsible Troubled by national statistics showing 20% excess deaths per week, UK MPs have demanded an investigation, the Daily Mail reported on Tuesday. Unlike the last time excess deaths reached such levels, during the second Covid-19 wave, few of these deaths could be attributed to the virus. Speaking before the House of Commons on Tuesday, Conservative MP Esther McVey skewered Chief Medical Officer Chris Whitty for blaming the spike in non-Covid excess deaths on “patients not getting statins or blood pressure medicines during the pandemic,” pointing out that the monthly figures for statin prescriptions had remained constant. “Where is the evidence? And if there isn’t one, what is causing these excess deaths?” she asked, demanding the minister “commit to an urgent and thorough investigation of the matter.” Labour shadow public health minister Andrew Gwynne described health secretary Steve Barclay as “part man, part ostrich” over his refusal to confront the issue, accusing PM Rishi Sunak’s government of “denial and buck-passing.” “There were 50,000 more deaths than we would have otherwise expected in 2022,” he told the House of Commons on Tuesday. “Excluding the pandemic, that’s the worst figure since 1951.” According to the Office for National Statistics, 2,837 more people died in the second week of January than normal in England and Wales, with just 5% of those deaths being attributable to Covid-19.e The last time excess deaths were so high, during the second week of February 2021, Covid-19 deaths made up 37% of the total. Nor is the statistic an outlier – the last two weeks of December saw 21% and 20% excess deaths. The Royal College of Emergency Medicine reported as many as 500 people a week are dying because they cannot receive emergency treatment in time. A record 54,532 people waited more than 12 hours in emergency departments to actually be admitted to the hospital once the decision was made to admit them, according to NHS data, and only 65% of patients were seen within four hours. Last month, Whitty warned that “postponement of elective and semi-elective care and screening” due to lockdowns and NHS delays would result in another wave of mortality after Covid-19 had largely subsided, with undiagnosed cancers and other chronic conditions claiming a larger than usual number of victims. https://www.foxnews.com/politics/california-democrats-consider-wealth-tax-people-moved-out-state California Democrats consider wealth tax — including for people who moved out of state California lawmakers are pushing legislation that would impose a new tax on the state's wealthiest residents — even if they've already moved to another part of the country. Assemblyman Alex Lee, a progressive Democrat, last week introduced a bill in the California State Legislature that would impose an extra annual 1.5% tax on those with a "worldwide net worth" above $1 billion, starting as early as January 2024. As early as 2026, the threshold for being taxed would drop: those with a worldwide net worth exceeding $50 million would be hit with a 1% annual tax on wealth, while billionaires would still be taxed 1.5%. Worldwide wealth extends beyond annual income to include diverse holdings such as farm assets, arts and other collectibles, and stocks and hedge fund interest. The legislation is a modified version of a wealth tax approved in the California Assembly in 2020, which the Democrat-led state Senate declined to pass. The current version just introduced includes measures to allow California to impose wealth taxes on residents even years after they left the state and moved elsewhere. Exit taxes aren't new in California. But this bill also includes provisions to create contractual claims tied to the assets of a wealthy taxpayer who doesn't have the cash to pay their annual wealth tax bill because most of their assets aren't easily turned into cash. This claim would require the taxpayer to make annual filings with California's Franchise Tax Board and eventually pay the wealth taxes owed, even if they've moved to another state. California was one of several blue states last week to unveil bills to impose new wealth taxes. The other states were Connecticut, Hawaii, Illinois, Maryland, Minnesota, New York and Washington. Each state's proposal contained a different tax approach, but they all centered around the same basic idea: the rich must pay more. Lee's office didn't respond to a request for comment for this story. However, he's made public statements echoing the message that wealthier residents should pay higher taxes. https://www.facebook.com/CrossPolitic/videos/849469106279608/ - Play 26:41-27:11 Yeah that’s me everyone… and Knox… what the heck? Why are you so surprised I can be funny? Anyways… I just had to share that from our most recent show Darren Doane on Kinism (Kincest?), Racism, Christian Nationalism… you can find that in our Fight Laugh Feast App, on Youtube, Facebook, etc. But y’all, if you really want to help us in our fight against secular media, sign up for a club membership, at fightlaughfeast.com. We couldn’t do what we do, without your support, so again, that’s fightlaughfeast.com, and sign up for a club membership today. https://www.theepochtimes.com/democrat-policies-to-burden-american-businesses-with-higher-taxes-this-year_5006782.html?utm_source=partner&utm_campaign=BonginoReport Democrat Policies to Burden American Businesses With Higher Taxes This Year Businesses in the United States are set to face a bigger federal tax burden in 2023 due to Democrat policies and the phasing out of Republican tax overhauls, combined with an expected raise in corporate minimum tax for billion-dollar companies. The Inflation Reduction Act (IRA) included several changes due to which businesses will face higher taxes. In addition, some of the temporary provisions in the 2017 Tax Cuts and Jobs Act (TCJA) enacted under the Trump administration are set to get phased out in 2023. The Joint Committee on Taxation estimates that the total effect of these two developments would result in additional tax increases of $115 billion for businesses. The new corporate minimum tax charges a 15 percent levy on American businesses that make more than $1 billion in book income in a year for three consecutive years. As a result, the average effective tax rate on corporate income is expected to rise from 18.7 percent to 19.3 percent. Around 200 of America’s biggest companies with more than $1 billion in profits are likely to be affected by the corporate minimum tax. They usually pay less than the 21 percent tax typically charged on firms. In addition, the minimum tax rule will also apply to foreign firms that generate over $100 billion in book income in the United States. Companies that meet the conditions under this new tax policy must calculate their taxes in two ways: under the 15 percent corporate minimum tax rule and the 21 percent income tax rule. They must then pay the higher tax. Businesses operating in sectors like mining and real estate are expected to be the hardest hit by this change. The stock buyback tax levies a 1 percent charge on publicly traded firms when they repurchase stocks. Some experts estimate that this tax will end up forcing businesses to maintain more cash on their company books when the money could have gone for investment. Strategists at UBS calculate the two taxes will be a drag on company earnings this year, estimating a 1.5 percent decrease per share in firms listed on the benchmark S&P 500 Index. https://www.breitbart.com/politics/2023/01/24/josh-hawley-to-propose-legislation-banning-tiktok-nationwide/ Josh Hawley to Propose Legislation Banning TikTok Nationwide Sen. Josh Hawley (R-MO) said on Tuesday he will introduce legislation to ban TikTok nationwide, charging that it violates the privacy of Americans. Hawley for years has moved to rein in TikTok. Sens. Hawley and Rick Scott (R-F) proposed legislation in March 2020 that would ban TikTok from all federal government devices, citing cybersecurity concerns and possible spying by the Chinese government. Congress passed Hawley’s bill to ban TikTok, which was signed into law on December 29, 2022. The bill was included in the $1.7 trillion, 4,155-page omnibus spending bill. Hawley has questioned tech executives about their companies’ potential compliance with Chinese law that could provide the Chinese Communist Party access to data that could endanger Americans’ privacy. Public officials and pundits across the political spectrum have contended that TikTok amounts to a national security concern. https://twitter.com/i/status/1191863214096703489 - Play 0:00-0:50 Since Hawley and Scott proposed their legislation to ban TikTok on federal government devices, many states, such as Georgia, Montana, Alabama, and Iowa, have moved to ban the controversial Chinese social media app off of their state government devices. https://www.foxnews.com/politics/vice-president-mike-pence-discovered-classified-documents-indiana-home Former Vice President Mike Pence discovered classified documents in Indiana home Former Vice President Mike Pence informed Congress on Tuesday that he discovered documents bearing classified markings from his time as vice president in his Carmel, Indiana, home on Jan. 16. Following the revelations that classified documents from President Joe Biden's tenure as vice president were found at the Penn Biden Center think tank and Wilmington, Delaware, Pence's team conducted searches of Pence's Indiana home and the office of his political advocacy group, Advancing American Freedom. According to his team, Pence informed the National Archives on Jan. 18 that a small number of potential classified documents were found in two small boxes. Another two boxes contained copies of vice presidential papers. The National Archives then informed the FBI, per standard procedure. Pence attorney Greg Jacob wrote on Jan. 18 to Acting Director Kate Dillon McClure of the White House Liaison Division National Archives and Records Administration to inform her of the papers "containing classified markings." After the documents with classified markings were discovered, they were immediately put into a safe, according to the Pence team. The documents were collected by the FBI at Pence's home in Carmel, Indiana, on Thursday evening, Jan. 19. Pence was in Washington, D.C., for the annual March for Life when the FBI collected the documents. Pence's team said that although the documents bear classified markings, the Department of Justice or the agency that issued the documents will need to make a final determination on whether the documents are considered classified or not. According to a letter from Jacob to Chief Operating Officer William Bosanko of the National Archives and Records Administration on Jan. 22, the DOJ departed from its standard procedures that it ran with Biden when it requested direct possession of the documents on Jan. 19. Other documents that were not identified as potential classified documents were driven from Indiana to the National Archives in Washington, D.C. No classified docs were found at Pence's Advancing American Freedom office. The House Oversight Committee confirmed to Fox News Digital that Chairman James Comer, R-Ky., was notified by Pence's team Tuesday regarding the discovery of classified documents in his personal residence. Dime Payments Dime Payments is a Christian owned processing payment business. Every business needs a payment process system, so please go to https://dimepayments.com/flf and sign your business up. Working with them supports us. They wont cancel you, like Stripe canceled President Trump. They wont cancel you, like Mailchimp canceled the Babylon Bee. Check them out. At least have a phone call and tell them that CrossPolitic sent you. Go to https://dimepayments.com/flf. https://www.rt.com/news/570436-uk-excess-deaths-investigation-mps/ British MPs call for probe into massive spike in deaths Nearly 3,000 more Britons are dying than average on a weekly basis, and it’s not Covid-19 that’s responsible Troubled by national statistics showing 20% excess deaths per week, UK MPs have demanded an investigation, the Daily Mail reported on Tuesday. Unlike the last time excess deaths reached such levels, during the second Covid-19 wave, few of these deaths could be attributed to the virus. Speaking before the House of Commons on Tuesday, Conservative MP Esther McVey skewered Chief Medical Officer Chris Whitty for blaming the spike in non-Covid excess deaths on “patients not getting statins or blood pressure medicines during the pandemic,” pointing out that the monthly figures for statin prescriptions had remained constant. “Where is the evidence? And if there isn’t one, what is causing these excess deaths?” she asked, demanding the minister “commit to an urgent and thorough investigation of the matter.” Labour shadow public health minister Andrew Gwynne described health secretary Steve Barclay as “part man, part ostrich” over his refusal to confront the issue, accusing PM Rishi Sunak’s government of “denial and buck-passing.” “There were 50,000 more deaths than we would have otherwise expected in 2022,” he told the House of Commons on Tuesday. “Excluding the pandemic, that’s the worst figure since 1951.” According to the Office for National Statistics, 2,837 more people died in the second week of January than normal in England and Wales, with just 5% of those deaths being attributable to Covid-19.e The last time excess deaths were so high, during the second week of February 2021, Covid-19 deaths made up 37% of the total. Nor is the statistic an outlier – the last two weeks of December saw 21% and 20% excess deaths. The Royal College of Emergency Medicine reported as many as 500 people a week are dying because they cannot receive emergency treatment in time. A record 54,532 people waited more than 12 hours in emergency departments to actually be admitted to the hospital once the decision was made to admit them, according to NHS data, and only 65% of patients were seen within four hours. Last month, Whitty warned that “postponement of elective and semi-elective care and screening” due to lockdowns and NHS delays would result in another wave of mortality after Covid-19 had largely subsided, with undiagnosed cancers and other chronic conditions claiming a larger than usual number of victims. https://www.foxnews.com/politics/california-democrats-consider-wealth-tax-people-moved-out-state California Democrats consider wealth tax — including for people who moved out of state California lawmakers are pushing legislation that would impose a new tax on the state's wealthiest residents — even if they've already moved to another part of the country. Assemblyman Alex Lee, a progressive Democrat, last week introduced a bill in the California State Legislature that would impose an extra annual 1.5% tax on those with a "worldwide net worth" above $1 billion, starting as early as January 2024. As early as 2026, the threshold for being taxed would drop: those with a worldwide net worth exceeding $50 million would be hit with a 1% annual tax on wealth, while billionaires would still be taxed 1.5%. Worldwide wealth extends beyond annual income to include diverse holdings such as farm assets, arts and other collectibles, and stocks and hedge fund interest. The legislation is a modified version of a wealth tax approved in the California Assembly in 2020, which the Democrat-led state Senate declined to pass. The current version just introduced includes measures to allow California to impose wealth taxes on residents even years after they left the state and moved elsewhere. Exit taxes aren't new in California. But this bill also includes provisions to create contractual claims tied to the assets of a wealthy taxpayer who doesn't have the cash to pay their annual wealth tax bill because most of their assets aren't easily turned into cash. This claim would require the taxpayer to make annual filings with California's Franchise Tax Board and eventually pay the wealth taxes owed, even if they've moved to another state. California was one of several blue states last week to unveil bills to impose new wealth taxes. The other states were Connecticut, Hawaii, Illinois, Maryland, Minnesota, New York and Washington. Each state's proposal contained a different tax approach, but they all centered around the same basic idea: the rich must pay more. Lee's office didn't respond to a request for comment for this story. However, he's made public statements echoing the message that wealthier residents should pay higher taxes. "The working class has shouldered the tax burden for too long," Lee wrote in a tweet. "The ultra-rich are paying little to nothing by hoarding their wealth through assets. Time to end that." According to Lee, the tax would affect 0.1% of California households and generate an additional $21.6 billion in state revenue, which would go to the state general fund. California has among the highest taxes of any state in the country. Advocates argue that the money could boost funding for schools, housing and other social programs. Perhaps more importantly, however, Lee hopes it could help address California's massive $22.5 billion budget deficit. "This is how we can keep addressing our budgetary issues," he told the Los Angeles Times. "Basically, we could plug the entire hole." However, experts counter that the bill will have the exact opposite effect through high administrative costs and by causing an exodus of people to flee the state. "The working class has shouldered the tax burden for too long," Lee wrote in a tweet. "The ultra-rich are paying little to nothing by hoarding their wealth through assets. Time to end that." According to Lee, the tax would affect 0.1% of California households and generate an additional $21.6 billion in state revenue, which would go to the state general fund. California has among the highest taxes of any state in the country. Advocates argue that the money could boost funding for schools, housing and other social programs. Perhaps more importantly, however, Lee hopes it could help address California's massive $22.5 billion budget deficit. "This is how we can keep addressing our budgetary issues," he told the Los Angeles Times. "Basically, we could plug the entire hole." However, experts counter that the bill will have the exact opposite effect through high administrative costs and by causing an exodus of people to flee the state.

The Real Estate Syndication Show
WS1557: Investing in Qualified Opportunity Zones | Dave Codrea

The Real Estate Syndication Show

Play Episode Listen Later Jan 25, 2023 18:25 Transcription Available


Have you heard of the opportunity zones? These are new community development program that was established by Congress through the Tax Cuts and Jobs Act of 2017. The reason why the government is creating these opportunity zones is to encourage long-term investments, specifically in low-income urban and rural areas throughout the country, and bolster the economy. Now, as a real estate entrepreneur, how will this benefit you? In this last episode of our three-part series with Dave Codrea of Atlanta-based real estate investment firm Greenleaf, he discusses what an opportunity zone is, its risks and benefits, and the importance of proper underwriting when you have a deal in the opportunity zone. He also explains why it's important to look at it so that it makes sense from a deal standpoint, not just from a tax standpoint. Tune in now and find out if it's time for you to look at the opportunity zone you can invest in! Key Points From This Episode: Dave details what an opportunity zone is and why investors should look at it as an opportunity for growth.Dave explains that in opportunity zones, taxes are deferred until 2026.With taxes being deferred, is this an opportunity for buying?Dave discusses some of the risks and rewards of doing opportunity zones.Are there any changes since the opportunity zone law was rolled out in 2019?How does Dave prepare for 2026?How does Dave plan for possible downturns?What is Dave's best source for meeting new investors at the moment?Dave talks about the big challenge they are facing in Greenleaf right now.What's the number one thing that's contributed to Dave's success?How does Dave like to give back?Tweetables:“Our whole strategy was to buy value-add deals and be able to refinance them at some point between now and 2026, to provide some cash-out mechanism will refinance or through just earning money on the deal so that investors can use that to pay their tax liability that is coming out.”“I think there's definitely some opportunities outside of the original thesis of buy and hold long-term where people are going to have to make tax payments coming up in 2026.”“There's no point in taking on outsize risks to defer taxes and something that's not going to work.”Links Mentioned in Today's Episode:Dave Codrea on LinkedInGreenleaf websiteWS1555: How I Started My RE Journey in High School | Dave CodreaWS1556: Multifamily Risks and Strategies | Dave CodreaAbout Dave CodreaDave is co-founder of Greenleaf, an Atlanta-based real estate investment firm. From the very beginning, Dave built Greenleaf to be a provider of quality affordable housing that offers unique compassion and partnership with residents. Since its inception as a two-man venture, Greenleaf has grown its geographic footprint to encompass several states in the Southeastern US. The growing portfolio currently includes Apartments, Mobile Homes, and Commercial properties. Our investment, management, and construction platforms work in sync providing top-level customer experience, impressive investment returns, and a culture of innovation and goal setting.Dave co‐founded Greenleaf in 2008 and heads all operational activities of the company. He built Greenleaf to be a provider of quality affordable housing that offers unique compassion and partnership with residents. In addition to real estate experience, he has a background in financial consulting with Deloitte.

CrossPolitic Studios
Daily News Brief for Wednesday, January 25th, 2023 [Daily News Brief]

CrossPolitic Studios

Play Episode Listen Later Jan 25, 2023 15:00


https://www.facebook.com/CrossPolitic/videos/849469106279608/ - Play 26:41-27:11 Yeah that’s me everyone… and Knox… what the heck? Why are you so surprised I can be funny? Anyways… I just had to share that from our most recent show Darren Doane on Kinism (Kincest?), Racism, Christian Nationalism… you can find that in our Fight Laugh Feast App, on Youtube, Facebook, etc. But y’all, if you really want to help us in our fight against secular media, sign up for a club membership, at fightlaughfeast.com. We couldn’t do what we do, without your support, so again, that’s fightlaughfeast.com, and sign up for a club membership today. https://www.theepochtimes.com/democrat-policies-to-burden-american-businesses-with-higher-taxes-this-year_5006782.html?utm_source=partner&utm_campaign=BonginoReport Democrat Policies to Burden American Businesses With Higher Taxes This Year Businesses in the United States are set to face a bigger federal tax burden in 2023 due to Democrat policies and the phasing out of Republican tax overhauls, combined with an expected raise in corporate minimum tax for billion-dollar companies. The Inflation Reduction Act (IRA) included several changes due to which businesses will face higher taxes. In addition, some of the temporary provisions in the 2017 Tax Cuts and Jobs Act (TCJA) enacted under the Trump administration are set to get phased out in 2023. The Joint Committee on Taxation estimates that the total effect of these two developments would result in additional tax increases of $115 billion for businesses. The new corporate minimum tax charges a 15 percent levy on American businesses that make more than $1 billion in book income in a year for three consecutive years. As a result, the average effective tax rate on corporate income is expected to rise from 18.7 percent to 19.3 percent. Around 200 of America’s biggest companies with more than $1 billion in profits are likely to be affected by the corporate minimum tax. They usually pay less than the 21 percent tax typically charged on firms. In addition, the minimum tax rule will also apply to foreign firms that generate over $100 billion in book income in the United States. Companies that meet the conditions under this new tax policy must calculate their taxes in two ways: under the 15 percent corporate minimum tax rule and the 21 percent income tax rule. They must then pay the higher tax. Businesses operating in sectors like mining and real estate are expected to be the hardest hit by this change. The stock buyback tax levies a 1 percent charge on publicly traded firms when they repurchase stocks. Some experts estimate that this tax will end up forcing businesses to maintain more cash on their company books when the money could have gone for investment. Strategists at UBS calculate the two taxes will be a drag on company earnings this year, estimating a 1.5 percent decrease per share in firms listed on the benchmark S&P 500 Index. https://www.breitbart.com/politics/2023/01/24/josh-hawley-to-propose-legislation-banning-tiktok-nationwide/ Josh Hawley to Propose Legislation Banning TikTok Nationwide Sen. Josh Hawley (R-MO) said on Tuesday he will introduce legislation to ban TikTok nationwide, charging that it violates the privacy of Americans. Hawley for years has moved to rein in TikTok. Sens. Hawley and Rick Scott (R-F) proposed legislation in March 2020 that would ban TikTok from all federal government devices, citing cybersecurity concerns and possible spying by the Chinese government. Congress passed Hawley’s bill to ban TikTok, which was signed into law on December 29, 2022. The bill was included in the $1.7 trillion, 4,155-page omnibus spending bill. Hawley has questioned tech executives about their companies’ potential compliance with Chinese law that could provide the Chinese Communist Party access to data that could endanger Americans’ privacy. Public officials and pundits across the political spectrum have contended that TikTok amounts to a national security concern. https://twitter.com/i/status/1191863214096703489 - Play 0:00-0:50 Since Hawley and Scott proposed their legislation to ban TikTok on federal government devices, many states, such as Georgia, Montana, Alabama, and Iowa, have moved to ban the controversial Chinese social media app off of their state government devices. https://www.foxnews.com/politics/vice-president-mike-pence-discovered-classified-documents-indiana-home Former Vice President Mike Pence discovered classified documents in Indiana home Former Vice President Mike Pence informed Congress on Tuesday that he discovered documents bearing classified markings from his time as vice president in his Carmel, Indiana, home on Jan. 16. Following the revelations that classified documents from President Joe Biden's tenure as vice president were found at the Penn Biden Center think tank and Wilmington, Delaware, Pence's team conducted searches of Pence's Indiana home and the office of his political advocacy group, Advancing American Freedom. According to his team, Pence informed the National Archives on Jan. 18 that a small number of potential classified documents were found in two small boxes. Another two boxes contained copies of vice presidential papers. The National Archives then informed the FBI, per standard procedure. Pence attorney Greg Jacob wrote on Jan. 18 to Acting Director Kate Dillon McClure of the White House Liaison Division National Archives and Records Administration to inform her of the papers "containing classified markings." After the documents with classified markings were discovered, they were immediately put into a safe, according to the Pence team. The documents were collected by the FBI at Pence's home in Carmel, Indiana, on Thursday evening, Jan. 19. Pence was in Washington, D.C., for the annual March for Life when the FBI collected the documents. Pence's team said that although the documents bear classified markings, the Department of Justice or the agency that issued the documents will need to make a final determination on whether the documents are considered classified or not. According to a letter from Jacob to Chief Operating Officer William Bosanko of the National Archives and Records Administration on Jan. 22, the DOJ departed from its standard procedures that it ran with Biden when it requested direct possession of the documents on Jan. 19. Other documents that were not identified as potential classified documents were driven from Indiana to the National Archives in Washington, D.C. No classified docs were found at Pence's Advancing American Freedom office. The House Oversight Committee confirmed to Fox News Digital that Chairman James Comer, R-Ky., was notified by Pence's team Tuesday regarding the discovery of classified documents in his personal residence. Dime Payments Dime Payments is a Christian owned processing payment business. Every business needs a payment process system, so please go to https://dimepayments.com/flf and sign your business up. Working with them supports us. They wont cancel you, like Stripe canceled President Trump. They wont cancel you, like Mailchimp canceled the Babylon Bee. Check them out. At least have a phone call and tell them that CrossPolitic sent you. Go to https://dimepayments.com/flf. https://www.rt.com/news/570436-uk-excess-deaths-investigation-mps/ British MPs call for probe into massive spike in deaths Nearly 3,000 more Britons are dying than average on a weekly basis, and it’s not Covid-19 that’s responsible Troubled by national statistics showing 20% excess deaths per week, UK MPs have demanded an investigation, the Daily Mail reported on Tuesday. Unlike the last time excess deaths reached such levels, during the second Covid-19 wave, few of these deaths could be attributed to the virus. Speaking before the House of Commons on Tuesday, Conservative MP Esther McVey skewered Chief Medical Officer Chris Whitty for blaming the spike in non-Covid excess deaths on “patients not getting statins or blood pressure medicines during the pandemic,” pointing out that the monthly figures for statin prescriptions had remained constant. “Where is the evidence? And if there isn’t one, what is causing these excess deaths?” she asked, demanding the minister “commit to an urgent and thorough investigation of the matter.” Labour shadow public health minister Andrew Gwynne described health secretary Steve Barclay as “part man, part ostrich” over his refusal to confront the issue, accusing PM Rishi Sunak’s government of “denial and buck-passing.” “There were 50,000 more deaths than we would have otherwise expected in 2022,” he told the House of Commons on Tuesday. “Excluding the pandemic, that’s the worst figure since 1951.” According to the Office for National Statistics, 2,837 more people died in the second week of January than normal in England and Wales, with just 5% of those deaths being attributable to Covid-19.e The last time excess deaths were so high, during the second week of February 2021, Covid-19 deaths made up 37% of the total. Nor is the statistic an outlier – the last two weeks of December saw 21% and 20% excess deaths. The Royal College of Emergency Medicine reported as many as 500 people a week are dying because they cannot receive emergency treatment in time. A record 54,532 people waited more than 12 hours in emergency departments to actually be admitted to the hospital once the decision was made to admit them, according to NHS data, and only 65% of patients were seen within four hours. Last month, Whitty warned that “postponement of elective and semi-elective care and screening” due to lockdowns and NHS delays would result in another wave of mortality after Covid-19 had largely subsided, with undiagnosed cancers and other chronic conditions claiming a larger than usual number of victims. https://www.foxnews.com/politics/california-democrats-consider-wealth-tax-people-moved-out-state California Democrats consider wealth tax — including for people who moved out of state California lawmakers are pushing legislation that would impose a new tax on the state's wealthiest residents — even if they've already moved to another part of the country. Assemblyman Alex Lee, a progressive Democrat, last week introduced a bill in the California State Legislature that would impose an extra annual 1.5% tax on those with a "worldwide net worth" above $1 billion, starting as early as January 2024. As early as 2026, the threshold for being taxed would drop: those with a worldwide net worth exceeding $50 million would be hit with a 1% annual tax on wealth, while billionaires would still be taxed 1.5%. Worldwide wealth extends beyond annual income to include diverse holdings such as farm assets, arts and other collectibles, and stocks and hedge fund interest. The legislation is a modified version of a wealth tax approved in the California Assembly in 2020, which the Democrat-led state Senate declined to pass. The current version just introduced includes measures to allow California to impose wealth taxes on residents even years after they left the state and moved elsewhere. Exit taxes aren't new in California. But this bill also includes provisions to create contractual claims tied to the assets of a wealthy taxpayer who doesn't have the cash to pay their annual wealth tax bill because most of their assets aren't easily turned into cash. This claim would require the taxpayer to make annual filings with California's Franchise Tax Board and eventually pay the wealth taxes owed, even if they've moved to another state. California was one of several blue states last week to unveil bills to impose new wealth taxes. The other states were Connecticut, Hawaii, Illinois, Maryland, Minnesota, New York and Washington. Each state's proposal contained a different tax approach, but they all centered around the same basic idea: the rich must pay more. Lee's office didn't respond to a request for comment for this story. However, he's made public statements echoing the message that wealthier residents should pay higher taxes. https://www.facebook.com/CrossPolitic/videos/849469106279608/ - Play 26:41-27:11 Yeah that’s me everyone… and Knox… what the heck? Why are you so surprised I can be funny? Anyways… I just had to share that from our most recent show Darren Doane on Kinism (Kincest?), Racism, Christian Nationalism… you can find that in our Fight Laugh Feast App, on Youtube, Facebook, etc. But y’all, if you really want to help us in our fight against secular media, sign up for a club membership, at fightlaughfeast.com. We couldn’t do what we do, without your support, so again, that’s fightlaughfeast.com, and sign up for a club membership today. https://www.theepochtimes.com/democrat-policies-to-burden-american-businesses-with-higher-taxes-this-year_5006782.html?utm_source=partner&utm_campaign=BonginoReport Democrat Policies to Burden American Businesses With Higher Taxes This Year Businesses in the United States are set to face a bigger federal tax burden in 2023 due to Democrat policies and the phasing out of Republican tax overhauls, combined with an expected raise in corporate minimum tax for billion-dollar companies. The Inflation Reduction Act (IRA) included several changes due to which businesses will face higher taxes. In addition, some of the temporary provisions in the 2017 Tax Cuts and Jobs Act (TCJA) enacted under the Trump administration are set to get phased out in 2023. The Joint Committee on Taxation estimates that the total effect of these two developments would result in additional tax increases of $115 billion for businesses. The new corporate minimum tax charges a 15 percent levy on American businesses that make more than $1 billion in book income in a year for three consecutive years. As a result, the average effective tax rate on corporate income is expected to rise from 18.7 percent to 19.3 percent. Around 200 of America’s biggest companies with more than $1 billion in profits are likely to be affected by the corporate minimum tax. They usually pay less than the 21 percent tax typically charged on firms. In addition, the minimum tax rule will also apply to foreign firms that generate over $100 billion in book income in the United States. Companies that meet the conditions under this new tax policy must calculate their taxes in two ways: under the 15 percent corporate minimum tax rule and the 21 percent income tax rule. They must then pay the higher tax. Businesses operating in sectors like mining and real estate are expected to be the hardest hit by this change. The stock buyback tax levies a 1 percent charge on publicly traded firms when they repurchase stocks. Some experts estimate that this tax will end up forcing businesses to maintain more cash on their company books when the money could have gone for investment. Strategists at UBS calculate the two taxes will be a drag on company earnings this year, estimating a 1.5 percent decrease per share in firms listed on the benchmark S&P 500 Index. https://www.breitbart.com/politics/2023/01/24/josh-hawley-to-propose-legislation-banning-tiktok-nationwide/ Josh Hawley to Propose Legislation Banning TikTok Nationwide Sen. Josh Hawley (R-MO) said on Tuesday he will introduce legislation to ban TikTok nationwide, charging that it violates the privacy of Americans. Hawley for years has moved to rein in TikTok. Sens. Hawley and Rick Scott (R-F) proposed legislation in March 2020 that would ban TikTok from all federal government devices, citing cybersecurity concerns and possible spying by the Chinese government. Congress passed Hawley’s bill to ban TikTok, which was signed into law on December 29, 2022. The bill was included in the $1.7 trillion, 4,155-page omnibus spending bill. Hawley has questioned tech executives about their companies’ potential compliance with Chinese law that could provide the Chinese Communist Party access to data that could endanger Americans’ privacy. Public officials and pundits across the political spectrum have contended that TikTok amounts to a national security concern. https://twitter.com/i/status/1191863214096703489 - Play 0:00-0:50 Since Hawley and Scott proposed their legislation to ban TikTok on federal government devices, many states, such as Georgia, Montana, Alabama, and Iowa, have moved to ban the controversial Chinese social media app off of their state government devices. https://www.foxnews.com/politics/vice-president-mike-pence-discovered-classified-documents-indiana-home Former Vice President Mike Pence discovered classified documents in Indiana home Former Vice President Mike Pence informed Congress on Tuesday that he discovered documents bearing classified markings from his time as vice president in his Carmel, Indiana, home on Jan. 16. Following the revelations that classified documents from President Joe Biden's tenure as vice president were found at the Penn Biden Center think tank and Wilmington, Delaware, Pence's team conducted searches of Pence's Indiana home and the office of his political advocacy group, Advancing American Freedom. According to his team, Pence informed the National Archives on Jan. 18 that a small number of potential classified documents were found in two small boxes. Another two boxes contained copies of vice presidential papers. The National Archives then informed the FBI, per standard procedure. Pence attorney Greg Jacob wrote on Jan. 18 to Acting Director Kate Dillon McClure of the White House Liaison Division National Archives and Records Administration to inform her of the papers "containing classified markings." After the documents with classified markings were discovered, they were immediately put into a safe, according to the Pence team. The documents were collected by the FBI at Pence's home in Carmel, Indiana, on Thursday evening, Jan. 19. Pence was in Washington, D.C., for the annual March for Life when the FBI collected the documents. Pence's team said that although the documents bear classified markings, the Department of Justice or the agency that issued the documents will need to make a final determination on whether the documents are considered classified or not. According to a letter from Jacob to Chief Operating Officer William Bosanko of the National Archives and Records Administration on Jan. 22, the DOJ departed from its standard procedures that it ran with Biden when it requested direct possession of the documents on Jan. 19. Other documents that were not identified as potential classified documents were driven from Indiana to the National Archives in Washington, D.C. No classified docs were found at Pence's Advancing American Freedom office. The House Oversight Committee confirmed to Fox News Digital that Chairman James Comer, R-Ky., was notified by Pence's team Tuesday regarding the discovery of classified documents in his personal residence. Dime Payments Dime Payments is a Christian owned processing payment business. Every business needs a payment process system, so please go to https://dimepayments.com/flf and sign your business up. Working with them supports us. They wont cancel you, like Stripe canceled President Trump. They wont cancel you, like Mailchimp canceled the Babylon Bee. Check them out. At least have a phone call and tell them that CrossPolitic sent you. Go to https://dimepayments.com/flf. https://www.rt.com/news/570436-uk-excess-deaths-investigation-mps/ British MPs call for probe into massive spike in deaths Nearly 3,000 more Britons are dying than average on a weekly basis, and it’s not Covid-19 that’s responsible Troubled by national statistics showing 20% excess deaths per week, UK MPs have demanded an investigation, the Daily Mail reported on Tuesday. Unlike the last time excess deaths reached such levels, during the second Covid-19 wave, few of these deaths could be attributed to the virus. Speaking before the House of Commons on Tuesday, Conservative MP Esther McVey skewered Chief Medical Officer Chris Whitty for blaming the spike in non-Covid excess deaths on “patients not getting statins or blood pressure medicines during the pandemic,” pointing out that the monthly figures for statin prescriptions had remained constant. “Where is the evidence? And if there isn’t one, what is causing these excess deaths?” she asked, demanding the minister “commit to an urgent and thorough investigation of the matter.” Labour shadow public health minister Andrew Gwynne described health secretary Steve Barclay as “part man, part ostrich” over his refusal to confront the issue, accusing PM Rishi Sunak’s government of “denial and buck-passing.” “There were 50,000 more deaths than we would have otherwise expected in 2022,” he told the House of Commons on Tuesday. “Excluding the pandemic, that’s the worst figure since 1951.” According to the Office for National Statistics, 2,837 more people died in the second week of January than normal in England and Wales, with just 5% of those deaths being attributable to Covid-19.e The last time excess deaths were so high, during the second week of February 2021, Covid-19 deaths made up 37% of the total. Nor is the statistic an outlier – the last two weeks of December saw 21% and 20% excess deaths. The Royal College of Emergency Medicine reported as many as 500 people a week are dying because they cannot receive emergency treatment in time. A record 54,532 people waited more than 12 hours in emergency departments to actually be admitted to the hospital once the decision was made to admit them, according to NHS data, and only 65% of patients were seen within four hours. Last month, Whitty warned that “postponement of elective and semi-elective care and screening” due to lockdowns and NHS delays would result in another wave of mortality after Covid-19 had largely subsided, with undiagnosed cancers and other chronic conditions claiming a larger than usual number of victims. https://www.foxnews.com/politics/california-democrats-consider-wealth-tax-people-moved-out-state California Democrats consider wealth tax — including for people who moved out of state California lawmakers are pushing legislation that would impose a new tax on the state's wealthiest residents — even if they've already moved to another part of the country. Assemblyman Alex Lee, a progressive Democrat, last week introduced a bill in the California State Legislature that would impose an extra annual 1.5% tax on those with a "worldwide net worth" above $1 billion, starting as early as January 2024. As early as 2026, the threshold for being taxed would drop: those with a worldwide net worth exceeding $50 million would be hit with a 1% annual tax on wealth, while billionaires would still be taxed 1.5%. Worldwide wealth extends beyond annual income to include diverse holdings such as farm assets, arts and other collectibles, and stocks and hedge fund interest. The legislation is a modified version of a wealth tax approved in the California Assembly in 2020, which the Democrat-led state Senate declined to pass. The current version just introduced includes measures to allow California to impose wealth taxes on residents even years after they left the state and moved elsewhere. Exit taxes aren't new in California. But this bill also includes provisions to create contractual claims tied to the assets of a wealthy taxpayer who doesn't have the cash to pay their annual wealth tax bill because most of their assets aren't easily turned into cash. This claim would require the taxpayer to make annual filings with California's Franchise Tax Board and eventually pay the wealth taxes owed, even if they've moved to another state. California was one of several blue states last week to unveil bills to impose new wealth taxes. The other states were Connecticut, Hawaii, Illinois, Maryland, Minnesota, New York and Washington. Each state's proposal contained a different tax approach, but they all centered around the same basic idea: the rich must pay more. Lee's office didn't respond to a request for comment for this story. However, he's made public statements echoing the message that wealthier residents should pay higher taxes. "The working class has shouldered the tax burden for too long," Lee wrote in a tweet. "The ultra-rich are paying little to nothing by hoarding their wealth through assets. Time to end that." According to Lee, the tax would affect 0.1% of California households and generate an additional $21.6 billion in state revenue, which would go to the state general fund. California has among the highest taxes of any state in the country. Advocates argue that the money could boost funding for schools, housing and other social programs. Perhaps more importantly, however, Lee hopes it could help address California's massive $22.5 billion budget deficit. "This is how we can keep addressing our budgetary issues," he told the Los Angeles Times. "Basically, we could plug the entire hole." However, experts counter that the bill will have the exact opposite effect through high administrative costs and by causing an exodus of people to flee the state. "The working class has shouldered the tax burden for too long," Lee wrote in a tweet. "The ultra-rich are paying little to nothing by hoarding their wealth through assets. Time to end that." According to Lee, the tax would affect 0.1% of California households and generate an additional $21.6 billion in state revenue, which would go to the state general fund. California has among the highest taxes of any state in the country. Advocates argue that the money could boost funding for schools, housing and other social programs. Perhaps more importantly, however, Lee hopes it could help address California's massive $22.5 billion budget deficit. "This is how we can keep addressing our budgetary issues," he told the Los Angeles Times. "Basically, we could plug the entire hole." However, experts counter that the bill will have the exact opposite effect through high administrative costs and by causing an exodus of people to flee the state.