Podcasts about Tax Reform Act

This week on The Intercept Briefing: What does it mean to work full-time in America and still not afford a place to live? We're resharing our conversation with journalist Brian Goldstone, whose new book “There Is No Place for Us: Working and Homeless in America,” examines this growing crisis. Goldstone's book — a finalist for the Carnegie Medal for Excellence in Nonfiction — reveals how people holding down jobs are increasingly living in their cars, motels, shelters, or on the streets. This episode originally aired August 29, 2025.Episode Description: Homeless sweeps have become the go-to, bipartisan performance of “doing something” about the U.S. housing crisis — a spectacle embraced by Democrats and Republicans, city halls, and the White House alike. But sweeps are not a solution. They're a way to make homelessness less visible while the crisis deepens.The roots stretch back decades. President Ronald Reagan's Tax Reform Act of 1986 pulled the federal government out of building and maintaining public housing, paving the way for a fragmented patchwork scheme of vouchers and tax credits. The result is the system we live with today — one that does little to stem the tide.Last year, more than 700,000 people were officially counted as homeless, the highest number ever recorded. Nearly 150,000 of them were children. And that number leaves out the “hidden homeless”: families doubling up in cramped apartments or bouncing between motels.“What causes homelessness, in the 1980s as now, is a lack of access to housing that poor and working-class people can afford,” says Brian Goldstone, journalist and author of the new book “There Is No Place for Us: Working and Homeless in America.”This week on The Intercept Briefing, Goldstone tells host Laura Flynn that the housing emergency is no accident; it's the product of deliberate political choices: “It's an engineered abandonment of not thousands, not hundreds of thousands, but millions of families.”Listen to the full conversation of The Intercept Briefing on Apple Podcasts, Spotify, or wherever you listen.You can support our work at theintercept.com/join. Your donation, no matter the amount, makes a real difference. Hosted on Acast. See acast.com/privacy for more information.

This Day in Legal History: Nevada Admitted as 36th StateOn October 31, 1864, Nevada was officially admitted as the 36th state of the United States, a move driven as much by wartime politics as by the territory's readiness for statehood. With President Abraham Lincoln seeking re-election and needing support for the proposed 13th Amendment to abolish slavery, the Republican-controlled Congress saw strategic value in adding another loyal Union state. Although Nevada's population was below the threshold typically required for statehood, its vast mineral wealth and political alignment with the Union helped accelerate the process. To meet the tight timeline ahead of the 1864 election, Nevada's leaders moved quickly to draft a state constitution.Facing logistical challenges in sending the document from Carson City to Washington, D.C., Nevada officials made the unprecedented decision to transmit the entire text—over 16,000 words—via telegraph. The transmission took over 12 hours and cost more than $4,000, making it the longest and most expensive telegram ever sent at the time. The decision proved effective: the telegram reached the capital in time, and Congress formally approved Nevada's admission on the same day.The speed and cost of Nevada's telegraphic constitution became a symbol of the urgency and improvisation of Civil War-era governance. The state's motto, “Battle Born,” reflects both its literal birth during the Civil War and the political battle over slavery and Union preservation. Nevada's admission also helped secure support for Lincoln's re-election and for the 13th Amendment, which passed Congress in January 1865.In a recently disclosed legal filing, Immigration and Customs Enforcement (ICE) sought taxpayer information on over 1.28 million individuals from the IRS, though only about 47,000 records matched. The request, part of a broader effort to access data on individuals under final removal orders, was submitted under a carve-out in Section 6103 of the Internal Revenue Code, which permits limited disclosures during criminal investigations. The IRS initially rejected ICE's requests citing legal constraints, but a memorandum of understanding in April allowed for limited data sharing. A subsequent refined request from ICE in June targeted a smaller group of 1.27 million, but again, only a small percentage matched IRS records, and many failed to meet legal standards for processing.The case arose from a lawsuit filed by taxpayer advocacy groups and unions, which argue that these disclosures violate the Tax Reform Act, the Privacy Act, and the Administrative Procedure Act. Plaintiffs are seeking a preliminary injunction to halt further sharing. Internal emails reveal IRS officials were concerned about the unprecedented scale and legality of the request, and officials emphasized the need to keep the data sharing confidential. The IRS typically handles about 30,000 such data requests a year, each requiring detailed justification and high-level agency approval. Critics warn that this massive data handover poses urgent threats to taxpayer privacy and due process rights.ICE Sought Records on 1.3 Million Taxpayers, Filing Shows (1)U.S. District Judge Carl Nichols praised two federal prosecutors, Samuel White and Carlos Valdivia, for their handling of a case against Taylor Taranto, despite both being suspended by the Justice Department the day before. The suspension followed their reference to January 6 rioters as “a mob of rioters” and mention of Donald Trump allegedly sharing Barack Obama's address in a sentencing memo. Judge Nichols commended their work as professional and exemplary, stating they upheld the highest prosecutorial standards.Taranto was sentenced to 21 months in prison for firearm and hoax-related charges after being arrested near Obama's D.C. residence in 2023. However, he will not serve additional time due to pretrial detention. Though originally charged for participating in the Capitol riot, those charges were dropped under President Trump's mass clemency order for January 6 defendants issued at the start of his second term. Taranto's defense claimed his statements about explosives were meant as “dark humor” and that he hadn't committed any violence.After White and Valdivia's suspension, a revised sentencing memo—stripped of January 6 and Trump references—was filed by two replacement prosecutors, including a senior DOJ official. The incident reflects broader tensions under the Trump administration, which has repeatedly moved to minimize references to Capitol riot violence and penalize prosecutors involved in politically sensitive cases.US judge praises prosecutors who were suspended after referring to January 6 ‘mob' | ReutersA federal judge allowed the Trump administration to move forward with firing nearly all remaining employees of the Department of Justice's Community Relations Service (CRS), an agency established in the 1960s to mediate racial and ethnic conflicts. U.S. District Judge Indira Talwani, while denying a temporary restraining order sought by civil rights groups, noted that the plaintiffs failed to show immediate, irreparable harm. However, she also stated that the groups are likely to succeed in proving that the executive branch cannot lawfully dissolve a congressionally created agency.The lawsuit, brought by 11 organizations including the NAACP and the Ethical Society of Police, challenges the Justice Department's recent “reduction in force” that would leave just one CRS employee. The move follows a pattern under the Trump administration, which has rejected all new requests for CRS services and proposed no funding for the agency in its budget. Plaintiffs argue that a termination notice stating the layoffs aim to “effectuate the dissolution” of CRS confirms unlawful intent.Although Talwani's ruling allows the firings to proceed, she emphasized that the final outcome may favor the plaintiffs as the case continues. The layoffs coincide with a government shutdown that began October 1, meaning the employees would have been furloughed regardless. The DOJ claims it is merely reorganizing, not eliminating, the agency, though it concedes that only Congress has the authority to formally abolish it.Judge allows Trump administration to fire most of DOJ race-relations agency's employees | ReutersHagens Berman Sobol Shapiro, a prominent plaintiffs' law firm, is under scrutiny in two high-profile class actions, facing judicial criticism and potential sanctions. In Seattle, a federal judge sanctioned the firm for over $223,000 after finding it misled the court and opposing counsel about its client's withdrawal from an antitrust case against Apple and Amazon. The judge said Hagens Berman failed to disclose that their client, who later disappeared from proceedings, had expressed his intent to exit the case months earlier. The firm argues it acted ethically under client confidentiality rules and has asked the judge to revise her dismissal ruling.In a separate matter in Philadelphia, the firm faces possible new sanctions in long-running litigation over thalidomide-related birth defect claims. A special master found misconduct, including altering an expert report and advancing claims lacking legal merit. While Hagens Berman disputes the findings, calling them outside the master's authority and biased, U.S. District Judge Paul Diamond upheld the report. The firm has now requested that Diamond recuse himself, citing an appearance of bias due to his close coordination with the special master.In both cases, Hagens Berman maintains its actions were in good faith and within legal and ethical bounds, while critics and courts point to patterns of misrepresentation and overreach.Law firm Hagens Berman battles sanctions in Apple, thalidomide cases | ReutersThis week's closing theme is by Camille Saint-Saëns.Camille Saint-Saëns was a French composer, organist, conductor, and pianist whose long career spanned the Romantic era and touched the early 20th century. Born in Paris in 1835, he was a child prodigy who began composing at the age of three and gave his first public performance at ten. Saint-Saëns was celebrated for his extraordinary versatility, writing symphonies, concertos, operas, chamber music, and choral works. Though deeply rooted in classical forms, he was an early supporter of contemporary composers like Liszt and Wagner, even as he remained skeptical of more radical modernism. His music often combined technical brilliance with elegance, and his clear, structured style made him a bridge between tradition and innovation. He was also a prolific writer and amateur astronomer, and his intellectual breadth sometimes earned him criticism from those who found his music too refined or academic. Still, Saint-Saëns maintained influence across Europe, and his works remain staples of the concert repertoire.This week's closing theme is Saint-Saëns' Danse Macabre. Originally a song for voice and piano based on a poem by Henri Cazalis, Saint-Saëns later reworked Danse Macabre into a tone poem for orchestra. It depicts Death summoning the dead from their graves at midnight on Halloween for a wild, skeletal waltz. A solo violin—tuned unconventionally to evoke a harsh, eerie sound—plays Death's dance theme, while xylophone rattles mimic clacking bones. The piece was controversial at its premiere in 1875 but quickly became a concert favorite, especially around Halloween. With its vivid orchestration and playful macabre imagery, Danse Macabre is one of classical music's most iconic musical depictions of the supernatural, perfectly capturing the spirit of the season.Without further ado, Saint-Saëns Danse Macabre—enjoy! This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit www.minimumcomp.com/subscribe

Homeless sweeps have become the go-to, bipartisan performance of “doing something” about the U.S. housing crisis — a spectacle embraced by Democrats and Republicans, city halls, and the White House alike. But sweeps are not a solution. They're a way to make homelessness less visible while the crisis deepens.The roots stretch back decades. President Ronald Reagan's Tax Reform Act of 1986 pulled the federal government out of building and maintaining public housing, paving the way for a fragmented patchwork scheme of vouchers and tax credits. The result is the system we live with today — one that does little to stem the tide.Last year, more than 700,000 people were officially counted as homeless, the highest number ever recorded. Nearly 150,000 of them were children. And that number leaves out the “hidden homeless”: families doubling up in cramped apartments or bouncing between motels.“What causes homelessness, in the 1980s as now, is a lack of access to housing that poor and working-class people can afford,” says Brian Goldstone, journalist and author of the new book “There Is No Place for Us: Working and Homeless in America.”This week on The Intercept Briefing, Goldstone tells host Laura Flynn that the housing emergency is no accident; it's the product of deliberate political choices: “It's an engineered abandonment of not thousands, not hundreds of thousands, but millions of families.”Listen to the full conversation of The Intercept Briefing on Apple Podcasts, Spotify, or wherever you listen.You can support our work at theintercept.com/join. Your donation, no matter the amount, makes a real difference. Hosted on Acast. See acast.com/privacy for more information.

Congressman David Schweikert checks in from Capitol Hill after a marathon markup session on the GOP's “One Big Beautiful Bill.” He gives a clear-eyed breakdown of what's at stake if Congress fails to extend key provisions of the 2017 Tax Reform Act — and how Republicans are working to protect working-class Americans from looming tax hikes. He also dismantles the misinformation campaign being pushed by the Left and progressive protestors, especially around tax policy and Medicaid reform. Then, Chris and Sean turn to Trump's latest trip through the Middle East, and unpack the swirling controversy over Qatar's offer to gift the U.S. a 747 for Air Force One — a temporary fix while Boeing drags its feet on delivery. Politics, policy, and presidential jets — you don't want to miss this one. Follow Light Beer Dark Money on Instagram: https://www.instagram.com/lightbeerdarkmoney/ Follow Light Beer Dark Money on Twitter: https://twitter.com/LBDMshow Follow Light Beer Dark Money on Linkedin: https://www.linkedin.com/company/light-beer-dark-money/ Link to the Light Beer Dark Money Blog: https://lightbeerdarkmoney.com/hypocrisy-and-the-aoc-oh-sandy/

After the 1986 Tax Reform Act, Ed Slott made a strategic decision to specialize in IRAs—a move that not only set him apart in a niche field, but also helped him build a nationally recognized reputation as a leading expert. By leaning into his niche, he intentionally set himself apart from generalists by charging more to reflect the unique value he delivers. Today, Ed is the President of Ed Slott and Company, a financial education firm based in Rockville Centre, New York, offering seminars and newsletters for both financial advisors and consumers, with a particular focus on IRAs. In this episode, he shares how having specialized knowledge of the ins and outs of IRAs helped him stand out among other tax experts, the marketing strategies that grew his visibility (leading to a nationwide speaking business and the launch of his Elite IRA Advisor Group), and much more. For show notes and more visit: https://www.kitces.com/437

What once was seen as a tax loophole is now becoming a mainstream strategy for business continuity—if done right.The Concierge CPAWith Jackie MeyerFor CPA TrendlinesThe world of business risk has changed drastically since 1986, and so has the way innovative entrepreneurs protect themselves. In a recent episode of The Concierge CPA, host Dr. Jackie Meyer sits down with Van Carlson, founder and CEO of SRA 831(b) Admin, to demystify one of the most misunderstood tools in modern financial planning: the 831(b) captive.More Jackie MeyerAt its core, the 831(b) tax code allows business owners to form small insurance companies to self-insure specific risks. But as Carlson explains, “It's not just about taxes—it's about protecting your business from the risks no one else will cover.”Originally created during the 1986 Tax Reform Act to help farmers and businesses insure against unique or underwritten risks, the 831(b) structure has evolved into a modern enterprise risk solution. And for Carlson, who's led audits and compliance for hundreds of captives, this is not a loophole—it's a legitimate strategy. “We embolden business owners through innovative risk management,” he says. “And the risks they face now—cybersecurity, supply chain failure, brand damage—are unlike anything we saw in the 1980s.”

How can businesses safeguard themselves against economic uncertainties using the 831B tax code? Join us as we welcome Van Carlson, the innovative founder and CEO of SRA831B, who unveils the potential of this tax code as a powerful tool for business risk management. From the complexities of the 1986 Tax Reform Act to the practicalities of building a financial reserve with pre-tax dollars, Van breaks down how businesses can manage self-insured risks effectively. Traditional insurance markets often leave gaps, but with 831B plans, companies can create their own financial buffer to tackle unforeseen expenses and maintain business continuity. We illustrate this with real-world examples, such as auto dealerships and warranties, highlighting how these strategies mirror the operations of large insurance companies and benefit industries across the board. In our discussion, Van shares his fascinating journey from being a history teacher and football coach to becoming a trusted insurance professional dedicated to ensuring client success. The episode focuses on the importance of integrity, honest communication, and setting up sound risk management practices for small and mid-sized businesses. We emphasize educating business owners on the necessity of financial reserves, not just for physical damages but also for modern threats like cyber risks. By advocating for sensible regulations and tax incentives, Van and SRA831B are committed to equipping businesses with the tools they need to thrive amidst economic challenges, ensuring a legacy of sustainability and success. Tune in to discover how these insights can revolutionize your approach to risk management and secure your business's future.   Timestamps 00:00:00 - Introduction and Welcome to the Business Legacy Podcast 00:00:12 - Introducing Van Carlson and SRA831B 00:00:30 - Explanation of 831B Tax Code for Businesses 00:02:15 - Importance of Risk Management in Modern Business 00:03:45 - The Genesis of the 831B Tax Code 00:05:00 - Challenges in Traditional Insurance Markets 00:06:30 - Building Financial Reserves with 831B Plans 00:08:10 - The Role of SRA831B in Risk Management 00:09:00 - Real-World Applications: Auto Dealerships and Agricultural Giants 00:10:15 - Importance of Identifying Unfunded Liabilities 00:11:58 - Managing Insurance Policies and Risk Financing 00:13:20 - Advantages of 831B Plans in Risk Management 00:14:45 - Industries Benefiting from 831B Strategies 00:16:00 - Transition from Educator to Insurance Innovator 00:17:00 - Emphasizing Integrity in Business Practices 00:18:15 - Impact of COVID-19 on Business Risk Management 00:19:30 - Educating Clients on Self-Insured Risk Management 00:20:25 - Leaving a Legacy of Business Resilience 00:21:30 - Promoting Sensible Regulations and Tax Incentives 00:22:45 - Preparing Businesses for Cyber Threats and Emerging Risks 00:24:00 - Conclusion and Final Thoughts from Van Carlson 00:25:00 - Closing Remarks and Where to Find More Information About SRA831B Resources from the Episode:  Go to https://www.831b.com/ to find out more about what SRA 831 is up to. Legacy Podcast: For more information about the Legacy Podcast and its co-hosts, visit businesslegacypodcast.com. Leave a Review: If you enjoyed the episode, leave a review and rating on your preferred podcast platform. For more information: Visit businesslegacypodcast.com to access the shownotes and additional resources on the episode.  

MICK HEYMAN, CFA and Founder of Heyman Investment Counseling, has a 40-year career in wealth management, helping individuals and institutions of all sizes to build and preserve wealth with his stress-free method for mellowing your money.   Mick started his career at a small firm in Cincinnati before moving to Louisville to focus on equities with a team of top equity managers, managing billions in assets for clients. His career came full circle when he moved to San Diego to work with individual investors, some of whom have remained loyal to him for more than 30 years. Mick received a Bachelor of Economics from Northwestern and is a designated CFA.  Despite a formal education in economics, it was really his interest in philosophy and psychology which showed him that human emotion is ultimately what drives the market. This realization has helped him make better money decisions for himself and his clients, using an understanding of human nature and an appreciation for long-term trends.   What You Will Learn: Who is Mick Heyman? Mick shares how he discovered emotions were more important than pure numbers in investing, despite struggling with economics in college How emotional control is crucial during market volatility. Financial stress doesn't need to be as intense as people make it. Mick shares an example of helping clients prepare emotionally for market crashes, which proved valuable during the 1987 crash Importance of keeping "dry powder" (cash reserves) to buy during market dips. Biggest investment regrets often come from selling rather than holding. The importance of analyzing what would happen in worst-case scenarios. The value of portfolio diversification in managing risk. How has cable news become commoditized over time? Why do news channels rely on fear to drive their viewership? What makes FOMO so dangerous when watching markets closely? What lessons can we learn from Black Monday's 22% market drop in 1987? How did the 1986 Tax Reform Act impact investors? What can we learn from historical interest rate changes, from 15% mortgages to recent 3% rates? How do 30-40 year market trends inform our investment decisions today? How important is it to know yourself as an investor? Why is understanding your risk tolerance crucial? What makes patience so valuable during market volatility? How can we best learn from our investment mistakes? Mick shares how everyone can contact him. Additional Resources from Mick Heyman: Website: https://www.mellowyourmoney.com/ Email: mick@mellowyourmoney.com LinkedIn: https://www.linkedin.com/in/michael-mick-heyman-cfa-b417bb16/ Facebook: https://www.facebook.com/mick.heyman Instagram: https://www.instagram.com/mellowyourmoney/   Attention Investors and Agents Are you looking to grow your business? Need to connect with aggressive like-minded people like yourself? We have all the right tools, knowledge, and coaching to positively effect your bottom line. Visit:http://globalinvestoragent.com/join-gia-team to see what we can offer and to schedule your FREE consultation! Our NEW book is out...order yours NOW! Global Investor Agent: How Do You Thrive Not Just Survive in a Market Shift? Get your copy here: https://amzn.to/3SV0khX HEY! You should be in class this coming Monday (MNL). It's Free and packed with actions you should take now! Here's the link to register: https://us02web.zoom.us/webinar/register/WN_sNMjT-5DTIakCFO2ronDCg

Tonight's rundown: Hey BillOReilly.com Premium and Concierge Members, welcome to the No Spin News for Tuesday, October 22, 2024. Stand Up for Your Country.  Talking Points Memo: Bill examines the crucial role Latino voters will play in determining the outcome of the election. The Presidential Election isn't just about Trump vs. Harris. Bill explains what it's really about. Why won't CBS News release the unedited transcript of its '60 Minutes' interview with VP Harris? Lawyer Daniel Suhr  joins the No Spin News to discuss the FCC complaints filed against CBS and ABC News for news distortion. Smart Life: Admitting when you make a mistake. This Day in History: Ronald Reagan signs the Tax Reform Act of 1986. Final Thought: BillOReilly.com poll results. In Case You Missed It: Read Bill's latest column, Night Fever For a limited time, get our three latest Political Memorabilia mugs at a 25% discount. Our Political Memorabilia 2.0 bundle includes a Not Woke mug in navy, a Team Normal mug in white and our newest mug, No Socialism in navy. ORDER TODAY! Election season is here! Now's the time to get a Premium or Concierge Membership to BillOReilly.com, the only place for honest news analysis. Get Bill's latest book, CONFRONTING THE PRESIDENTS, out NOW! Learn more about your ad choices. Visit megaphone.fm/adchoices

#546: The Federal Reserve slashed interest rates by half a percentage point. What does this mean for your mortgage, your savings account, and the economy at large? In this First Friday economic episode, we dive deep into the Fed's decision. But that's just the beginning. As the presidential election looms, we'll also unpack the economic proposals from both candidates, examining how their plans for housing, taxes, and more could shape your financial future. We emphasize critical, non-partisan analysis of economic proposals. We want you to understand complex economic issues and their potential impacts, rather than advocating for specific political positions. Here are more specifics about this episode: The Federal Reserve's decision to cut interest rates by half a percentage point – the first rate reduction since the pandemic – is the biggest economic story of the month. We start by exploring the implications of the Federal Reserve's rate cut, from falling mortgage and auto loan rates to potential increases in home prices and a tightening housing inventory. We also touch on the flip side: declining yields on high-interest savings accounts and CDs. We unpack the reasoning behind the Fed's decision, including shifting concerns from inflation to unemployment. We delve into economic indicators like the "dot plot" and "R-Star," explaining their significance in predicting future interest rates and economic trends. Then we discuss the latest jobs report, with 254,000 new jobs added in September, surpassing expectations. We break down the unemployment rate's drop to 4.1 percent. As the conversation shifts to the upcoming election, we take a nonpartisan approach to examining economic proposals from both presidential candidates. The episode focuses on policy rather than politics, encouraging critical thinking about each proposal's potential impacts. One area of bipartisan agreement - a proposal for no tax on tips for service workers - is scrutinized. We explain why economists across the political spectrum view this idea skeptically, highlighting the lack of specificity in defining "service workers" and "tips." Housing policy takes center stage, with both candidates proposing regulatory streamlining for home construction and opening federal lands for development. We discuss the limitations of federal intervention in what are often local zoning and regulatory issues. The episode also examines proposals for first-time homebuyer assistance, explaining how subsidizing demand in a supply-constrained market could potentially lead to higher housing prices. Throughout the discussion, we emphasize the importance of evaluating these policies based on their potential economic impacts rather than political affiliations. This episode will help you make more informed decisions about personal finances and policy preferences. Timestamps Note: timestamps will vary on individual devices based on advertising length 0:00 Introduction to the Fed's recent interest rate cut 2:35 Unpacking the impact of rate cuts on mortgages and savings 5:12 Explanation of the dot plot and R-Star concepts 9:47 Analysis of September's job report and unemployment figures 15:23 Discussion on labor force participation trends 21:08 Introduction to election-related economic policies 25:40 Examination of bipartisan "no tax on tips" proposal 31:15 Analysis of housing policies from both candidates 37:22 Critique of down payment assistance for first-time homebuyers 42:56 Exploration of the Tax Reform Act of 1986 and its housing impact 48:03 Discussion on proposed acts to limit corporate housing investments 52:17 Case study of Argentina's recent housing market changes For more information, visit the show notes at https://affordanything.com/episode546 Learn more about your ad choices. Visit podcastchoices.com/adchoices

Send us a textReady to slash your tax bill? Schedule your free consultation and let's strategize your tax savings together! Book now at: www.prosperlcpa.com/applyOr, if you still need more time, here are some other ways to begin winning the tax game... Get on our newsletter to gain access to free live events and exclusive insight you won't find anywhere else:  https://api.leadconnectorhq.com/widget/form/Aaf69tgWyr9qCmGB4IiUUnlock the secrets to saving big on taxes for high earners—join our FREE live Tax Q&A calls Wednesdays at 3pm EST Reserve your spot now at: https://api.leadconnectorhq.com/widget/form/zQ2vD3JHLDpisIuO9n4E   Get your FREE Personalized Tax Planning Video at: https://api.leadconnectorhq.com/widget/form/Aaf69tgWyr9qCmGB4IiU Signup for our Essentials of Real Estate Tax Planning Course at:  https://mark-perlberg.mykajabi.com/offers/meLbFMwG. The course will count toward any of our services. In this insightful video, Michael Rozbruch, a CPA and certified tax resolution specialist, shares valuable strategies for building a highly profitable tax resolution practice. From overcoming career shifts to understanding crucial IRS procedures, he explains how to effectively manage tax issues and help clients get out of debt. If you're an entrepreneur, CPA, enrolled agent, or attorney looking to grow your business through tax resolution, this video is a must-watch. Learn to take advantage of the Tax Reform Act, manage IRS notices, and develop profitable client strategies!Want more tips and personalized strategies?

Send a message to the Financial Perspectives podcast and receive a shout out!Discover how to align your charitable intentions with your investment goals as we chat with Sanem Alkan on smart philanthropy and impact investing. Sanem's expertise brings to light the transformative shifts in philanthropy, from the pivotal 1969 Tax Reform Act to today's cutting-edge trends like the United Nations' Sustainable Development Goals (SDGs), blended finance, and venture philanthropy. Learn how to merge financial returns with social impact, leveraging strategic philanthropic tools such as program-related and mission-related investments. Sanem also explores the critical role of planning and advisory support for achieving tax-efficient charitable giving.For business owners, Sanem unveils advanced strategies like charitable remainder trusts, donor-advised funds, and corporate foundations, which not only offer tax benefits but also bolster legacy planning and business reputation. She provides a wealth of resources for those eager to deepen their knowledge in this evolving field, including books, organizations, and certification programs. Tune in and transform your approach to philanthropy and impact investing on this month's Financial Perspectives episode.If you'd like to learn more about the show, have a topic or speaker to suggest, or would like to leave us a comment, email podcast@cfa-sf.org. This podcast is produced by CFA Society San Francisco, a not-for-profit professional association, providing professional learning and career resources to over 13,000 investment industry professionals worldwide. To learn more about CFA Society San Francisco, visit our website or connect with us on LinkedIn.The information contained in this podcast does not constitute financial or investment advice. Please consult your own financial advisor for information concerning your specific situation.

As we head into the November election, tax policy is undoubtedly a top issue for many voters. K-12 schools, higher education, local governments, libraries, and more all rely on taxation to raise adequate revenue to provide public services. Tax policy has also been used as a tool to attract jobs, spur economic growth, and promote entrepreneurship. But what are we actually seeing in Ohio and across the nation?rnrnIn 2017, the Trump Administration signed into law what many cite as the biggest tax overhaul since the Tax Reform Act of 1986. And just this year, Republican lawmakers introduced legislation in Ohio that would eliminate Ohio's income tax and repeal the Commercial Activities Tax by 2030. While such legislation is unlikely to pass in Ohio, it opens up the debate for what constitutes effective and equitable taxation.

Unlock the secrets of mastering the tax benefits of whole life insurance with our latest Money Advantage podcast episode. We promise you'll gain an in-depth understanding of tax laws related to life insurance strategies, like the pivotal 1988 government decision to limit cash value life insurance investments due to their tax perks. By diving into the historical context of the Tax Reform Act of 1986 and the Revenue Act of 1987, we uncover the intricate relationship between these laws and the economic climate of the time, helping you make smarter financial decisions today. https://www.youtube.com/live/0XcaTFWcOhM Travel back in time with us to explore how Nixon's 1974 move away from the gold standard set the stage for inflation and the creation of IRAs and 401(k)s. These financial products shifted funds from whole life insurance, leading to the popularity of universal life policies. Our discussion reveals how high interest rates and regulatory responses like the 1988 Tamra Act reshaped the life insurance landscape, ensuring it remained a protection tool rather than a tax haven. The 1979 FTC report's critique of whole life insurance also played a significant role, challenging traditional perceptions and influencing market dynamics. We round off the episode by dissecting the Modified Endowment Contract (MEC) and the Tamra Act's regulatory impacts on life insurance policies. Discover the nuances of the one-year and seven-year rules, the scenarios leading to a policy becoming a MEC, and the resulting tax implications. We delve into circumstances where intentionally MEC'ing a policy could be beneficial, such as for estate planning or achieving better returns than traditional banking options. This rich historical insight equips you with the knowledge to navigate today's complex financial landscape with confidence. Tax Loopholes vs. Tax IncentivesWhole Life Insurance and TaxesThe History of Whole Life Insurance and TaxationWhat Does it Mean to Be a MEC?Applying Whole Life Insurance tax Benefits TodayBook A Strategy Call Tax Loopholes vs. Tax Incentives To kick off this conversation, let's get something clear: tax loopholes are not actually loopholes. The word “loophole” has a negative connotation, and if often used to suggest that people who use tax incentives to reduce their taxes are doing something sneaky or unethical. The reality is that the IRS writes tax law to be as specific and intentional as possible, and those “loopholes” are actually intentional incentives from the government. Tax incentives work to provide tax credits or breaks for investors who can do things that the government does not want to spend their own money on. For example, there are many tax incentives in real estate because housing is a constant and prevalent need. If housing cannot be provided by landlords, the government may have to provide more housing, and so the government creates tax incentives to have investors take the lead.  Tax breaks don't exist by accident. They are purposeful and are designed to get investors to take specific actions.  Whole Life Insurance and Taxes Whole life insurance is a popular “tax-advantaged” asset because you can technically access your cash in a tax-free way. You can do this through a policy loan, which must still be paid back, or by withdrawing only up to your base premium. Otherwise, you can still have a taxable event. That being said, whole life insurance has long been a popular strategy for tax purposes, and in fact used to be even more beneficial from a tax standpoint, until the IRS got involved. And while there are some limitations, now, whole life insurance is still extremely advantageous from a tax standpoint. The History of Whole Life Insurance and Taxation Until the 1960s, whole life insurance was the premier savings vehicle for American families. It provided great flexibility and protection and was a powerful tax advantage.

Welcome to another episode of Weaver: Beyond the Numbers, Location Cubed, which examines the complexities of real estate investment and market dynamics. In this episode, Howard Altshuler and Aaron Grisz discuss the challenges and opportunities of today's real estate landscape with Dan Thomas, founder and president of DT Capital.Key Points: • Prioritize lower leverage in real estate investments to mitigate risk during market downturns.• Regularly monitor and adjust financing strategies to ensure alignment with current market conditions.• Collaborate closely with lenders to maintain flexibility in loan terms and protect investment returns during economic shifts. Thomas shares his extensive experience in the real estate sector, focusing on how he navigated the challenges of different market cycles, including the aftermath of the 1986 Tax Reform Act and the Great Financial Crisis. His insights reveal the importance of careful leverage management and understanding market dynamics, particularly in multifamily and commercial properties. "Leverage is a two-edged sword; it can amplify your returns, but it also increases risk, especially in a volatile market,” Thomas explained. His approach to real estate investment emphasizes the need for conservative financing and meticulous oversight of project execution, ensuring long-term success even in uncertain economic conditions. Subscribe and listen to future episodes of Weaver: Beyond the Numbers, Location Cubed, on Apple Podcasts or Spotify.©2024

Host Dick Donahue talks about consumer delinquency rates, AI, and preparing for the sunset of the 2017 Tax Reform Act.

On today's episode, we welcome Troy Eckard to the podcast. Troy has nearly four decades of experience exclusively focused on domestic oil and gas, making him a top expert in his field. His family-owned energy company, Eckard Enterprises, represents 1800 high-net-worth partners with over $850 million in assets under management, including mineral rights and working interests in midstream pipeline projects. Eckard Enterprises is renowned for its transparency, business ethics, track record, and results. Troy, welcome to the podcast! How are you doing today, my friend? Troy, who was highly recommended by several trusted and prudent investor friends, is here to shed some light on the alternative investment world and how it differs from traditional investment platforms. He explains that when he started his career in 1985, alternative investments were seen as taboo and risky. However, over the past 40 years, the internet has revolutionized this asset class, making it more credible and accessible. Today, alternative assets are a mainstream investment opportunity, comparable to publicly traded assets. We delve into whether these investments are suitable for high-income individuals without a windfall or those with large liquidity. Troy explains that one's financial position and personality determine their appropriateness for alternative investments, emphasizing the need for understanding the commitment involved. He shares insights on how these investments can provide long-term benefits and stability, especially through strategies like the 1031 exchange, which allows for tax deferment and continued wealth generation. Troy also touches on the tax advantages of investing in oil and gas, highlighting the impact of the 1986 Tax Reform Act and the evolution of drilling technology. He explains how these investments can offer significant tax deductions while creating sustainable income. The conversation reveals the importance of working with reputable sponsors and understanding the complexities of the oil and gas industry to avoid pitfalls and maximize returns. This episode provides a comprehensive overview of the opportunities and challenges in the alternative investment space, particularly in oil and gas, offering valuable insights for high-net-worth individuals and those considering diversifying their investment portfolios. Stay tuned for Part 2, where we'll continue this enlightening discussion with Troy Eckard. EPISODE RESOURCES https://eckardenterprises.com/dsi https://www.truedentalsuccess.com Dental Success Network Subscribe to The Dentalpreneur Podcast

In this insightful episode of the Farm4Profit Podcast, we explore the fascinating world of Micro-Captive Insurance with none other than Van Carlson, the esteemed Founder & CEO of SRA. With over twenty-five years of experience in the risk management industry, Van brings a wealth of knowledge and expertise to the table, sharing valuable insights on how small to mid-market businesses can leverage 831(b) Plans to effectively manage their property and casualty risks while enjoying significant tax benefits.Van's journey in the industry began with Farmers Insurance Group, where he started as an agent and swiftly rose to prominence, growing his book of business to become one of the largest in his home state of Idaho. Today, his primary goal is to continue the upward trajectory of SRA, constantly innovating and developing new products to meet the evolving needs of the market.The heart of this episode lies in understanding the intricacies of 831(b) Plans and how they offer a unique opportunity for business owners to retain up to 50% of their risk and premiums. By placing funds in a tax-deferred 831(b) Plan, businesses can build a funded reserve for potential losses, thus gaining greater control over claims and even participating in underwriting profits within their plan. It's an ideal strategy for savvy business owners willing to take calculated risks for greater rewards.Van also draws parallels between 401(k) and 831(b) accounts, shedding light on their similarities in terms of tax benefits, contribution limits, and compliance requirements. However, the real magic of 831(b) Plans lies in their ability to mitigate various business risks that may not be covered by traditional insurance, such as supply chain interruptions, cybersecurity attacks, and even brand damage.Delving deeper into the history of 831(b) Microcaptives, Van discusses the legislative milestones and regulatory framework that have shaped their evolution over the years. From the Tax Reform Act of 1986 to the more recent PATH Act of 2015, which increased premium amounts and introduced inflation riders, these legislative developments have made 831(b) Plans an increasingly attractive option for businesses seeking comprehensive risk management solutions.Join us as we unravel the complexities of Micro-Captive Insurance and discover how it can be a game-changer for your business's risk management strategy. Whether you're a seasoned entrepreneur or just starting out, this episode offers invaluable insights into safeguarding your assets and maximizing rewards in today's dynamic business landscape. Tune in now to learn from the best in the industry and take your risk management strategy to the next level.Don't forget to like the podcast on all platforms and leave a review where ever you listen!Websitewww.Farm4Profit.comShareable episode linkhttps://intro-to-farm4profit.simplecast.comEmail addressFarm4profitllc@gmail.comPhone515.207.9640Subscribe to YouTubehttps://www.youtube.com/channel/UCSR8c1BrCjNDDI_Acku5XqwFollow us on TikTokhttps://www.tiktok.com/@farm4profitConnect with us on Facebookhttps://www.facebook.com/Farm4ProfitLLC/ 

Please enjoy October 22, 1986: Remarks on Signing the Tax Reform Act a great episode of the legendary Ronald Reagan - A Classic Old Time radio Show.

In this episode of Where Public Finance Works, we explore the remarkable journey of Martin “Marty” Feinstein, an influential figure in the fusion of public finance and investment banking technology. Born and bred in New York, Marty's story begins with his early exposure to computing at Jamaica High School, training on an IBM 1030 mainframe, and progresses through his ascension in the field post completing his master's from Albany State. Join our host, Tyler Traudt as he guides us through Marty's story from his foundational programming work at International Paper, creating a forest-yielding algorithm, to his pivotal role at First Boston, where his uncle's advice steered him into the world of public finance. Marty recounts his transition from programming to financial analysis, and how the arrival of PCs and evolving technology shaped the industry. Listen along as he details the profound shifts in bond pricing technology, from the Monroe Bond Calculator to the dominance of Bloomberg terminals. Marty candidly discusses the impact of the Tax Reform Act of 1986, which threw municipal finance into tumult, and how it prompted changes in refunding bonds and the entry of analytical databases. As he reflects on his later roles and working with his team at DebtBook, we learn how Marty's legacy is defined by a commitment to progress and the ability to harness knowledge for continuous improvement.   Featured Guest Marty Feinstein is the Managing Director of Finance Product & Enablement and Head of Data Analysis/Excel Model Development at DebtBook. He first entered the Public Finance field in 1980 as a computer programmer at First Boston Corporation. In 1995, Marty joined Smith Barney (later to merge with Citi) where he became a director and headed the Finance Structuring Group within the Public Finance Department. Marty also worked for Global Financial Markets Institute as a consultant responsible for training clients in general Public Finance knowledge or Excel cash flow modeling. In April 2020, Marty joined DebtBook to help the team design and build user-friendly internal models to speed data entry of client information and train staff in general Public Finance knowledge. Download Now: The Issuer's Guide to Modernizing Debt Management

We delve into the dynamic landscape of retirement planning, exploring the critical issues surrounding the sunset of the Tax Reform Act. Learn how this crucial step not only ensures a safer retirement but also unlocks the potential for a tax-free financial future.  #TaxReformAct #TaxStrategy #MarginalTaxRates #RothConversions #RetirementIncome #FinancialPlanning #TaxEfficiency 

We continue the introduction to the richest real estate investor in the globe, the owner of The Irvine Company, Donald Bren.Read the entire episode here: https://tinyurl.com/m2ehfys71970'sAt that point, cities and the County were increasingly imposing costly demands on the developer. These demands included roads, flood control channels, parks, and schools — all of which were previously provided by the cities and the County. The James Irvine Foundation became serious about selling The Irvine Company to comply with the Tax Reform Act. When thinking of purchasing the company, Bren combined forces with Taubman, Allen, and the others. Understanding from Bren the need to have heiress Joan Irvine Smith on their side, Taubman and Bren had decided to allow Joan Irvine Smith to become an 11% partner of the consortium, allowing her to retain partial ownership of the Company she loved after the proposed purchase — which she relished. On May 18, 1977, Mobil bid $336.6 million. The next day, May 19, the consortium bid $337.4 million — more than one-third higher than Mobil's original offer. At noon the following day, May 20, 1977, Mobil announced that it would not attempt to outbid the consortium. The consortium was prepared to go higher. The court approved the price, declared Taubman-Allen-Irvine the winner, and the sale of The Irvine Company was completed. Therefore, 112 years after James Irvine acquired the Irvine Ranch, the company became a Michigan corporation.The consortium purchased the company for $337.4 million. Key to the financing of the acquisition was the $100 million loan, which was assembled by a group of 9 banks. The timing of the acquisition could not have been better, as the nation came out of the 1973-74 recession, and the economy grew warm in 1976 and 1977.1980'sIn 1983, Bren made a startling move. He offered to buy out Taubman and his partners by launching his own leveraged buyout of The Irvine Company, for their 51 percent of the Company, for which they had contributed less than $100 million six years earlier, Bren offered the “Eastern” shareholders $516 million. Determining that they had made a sizeable profit and uncertain about the future resulting from the heated “greedy eastern carpetbagger” campaign and the residential leasehold crisis, the Taubman-led easterners agreed to accept Bren's offer. Orange County newspaper reporters tried to uncover why these astute businessmen would sell a company which appeared to have an unlimited financial future, but Taubman would only comment “My father always told me you take some and you leave some.” To his hometown “Detroit Free Press” he boasted: “This was a better deal than the Louisiana Purchase.” But Joan Irvine Smith objected to the buyout price as being too low, and objected to Bren's saddling the Company with a $560 million debt (the $516 million buyout plus interest due to five banks making the loan). This valued the company at just over $1B and her 11% shares at about $100M. She filed suit. With the buyout also came $560M of debt. Bren worked with First Boston Company on financing the buyout, and he worked closely with accountants Kenneth Leventhal & Company on how to make the payments. The lawsuit lasted quite a few years in the 80s and after endless months of discovery, depositions, the trial which was in Michigan (where the company was incorporated) resulted in the judge awarding her $256M including accumulated interest.Join our newsletter here: www.montecarlorei.com

In this episode, John Baker shares his tips and strategies for getting wealthy with real estate investing. He discusses the importance of prudently leveraging real estate and explains the tax benefits of investing in real estate. John also shares his personal experiences and wealth-building strategies, including investing in ATM funds and using retirement accounts for real estate investing. He emphasizes the importance of passive income and cash flow and provides advice on working with turnkey providers and building a team. He also discusses the importance of family and the shift in priorities that can occur after a life-changing event. John concludes with closing thoughts and advice for those looking to get started in real estate investing. Resources John's Free Book PDF Version “There is A Raccoon on my Leg, A Journey to Discover the 30 Rules of Real Estate” https://members.wvmls.com/content/Raccoon_John_Baker.pdf  Rich Dad, Poor Dad by Robert Kiyosaki The Cashflow Quadrant by Robert Kiyosaki Tax Relief for American Families and Workers Act of 2024 Get Rich Education https://getricheducation.com ATM Investing, Dave Zook, The Real Asset Investor https://therealassetinvestor.com  Rental Property Calculatorhttps://www.calculator.net/rental-property-calculator.html  Tax Reform Act of 2017 Bonus Depreciationhttps://www.bing.com/search?q=tax+reform+act+of+2017+bonus+depreciation&qs=NWU&pq=tax+reform+act+of+2017+bonus&sk=NW_XFC1NW4NWU1&sc=10-28&cvid=D640A57229844266AF345EDB53E6FE6E&FORM=QBLH&sp=7&ghc=1&lq=0  QRP-Qualified Retirement PlaneQRP Damion Lupo https://eqrp.com/founder/

On this episode of the Massimo Show Rod sits down with one of his mentors, Jerry Anderson, a veteran in the commercial real estate brokerage industry with over 50 years of experience. Jerry, currently a Corporate Advisor for eXp Commercial, has successfully run two international brokerage companies and is a pioneer in single point of contact and master franchise brokerage models.  Jerry has succeeded and thrived through at least four economic downturns, otherwise known as inflection points in brokerage, throughout his career, so Rod begins the podcast by asking him about the current state of the market and how it differs from previous downturns he's experienced. At first glance, Jerry thought this downturn was similar to the 2008 financial crisis, but after watching some activity over the past few months, he said there are several differences, especially where things are heating up in the financial/lending industry, and “not in a good way.”  Jerry elaborates that the central dilemma for US brokers right now is that “Interest rate percentages have really been very, very low, in my opinion, for way too long. We have to reset all that. We have to get people accustomed to higher interest rates. If you own a property…at 3% or 4%, [we have to ask] why would you want to sell?... [and advise] All you're going to do is pay capital gains tax, move on, and have a higher interest rate.” Jerry also points out that interest rates used to be higher, he remembers he “was pretty happy when interest rates [used to be] 12% and I was making money as a broker at 12%.”  With Jerry's lengthy expertise, Rod asks what advice he would give to brokers saying there's no velocity in the current market and there's “nothing I can do.” Jerry suggests that interest rates are relative, brokers have “had it pretty easy for the last 10 years… the habits they gave up, they're going to have to reinsert… You have to be an advisor in this marketplace more than ever before because people don't need you… you have to help them figure out what they do need.” “It's a beautiful time for you as a broker to make calls and say, let me share with you what's happening because we have our thumb on the heartbeat of the market.” Jerry continues to explain that brokers have to refocus, understand where the market is and its impacts, and share that knowledge and awareness with property owners and buyers to put them “in a position to be successful…” Rod further emphasizes Jerry's points by adding that The Massimo Group encourages our clients to be an authority in the market versus a commodity, an advisor versus a facilitator. “...This is not a time to take your foot off the pedal. This is the time to jam that pedal to the floor [with] more calls, more effort, more work if you want to just maintain a sliver of market share…” Lastly, Rod enquires what Jerry feels are some of the greatest inflection points in brokerage history that have changed the way brokers work. Jerry recalled the Tax Reform Act of 1986, technology, particularly software and the internet, and the structure of brokerage companies. Jerry briefly discusses his white paper The Commercial Real Estate Brokerage Industry Is Broken For Both Brokers and Associates. Rod postulates if he feels brokerage was broken back then and it still is today, how can we fix it? Jerry details the strengths and weaknesses of some prior brokerage models, from the small shop to national and international brokerage companies, franchises, and now virtual models. Jerry believes the current model that eXp is experimenting with is the closest to having it figured out.  Note: These highlights are designed to provide an overview of this episode's content. Listeners are encouraged to tune in to the full episode for a comprehensive understanding of the topics covered. At the Massimo Group we have 15 years of experience helping the most dedicated brokers, like you, build the CRE business and life they have always desired. If you'd like to learn more visit https://massimo-group.com/

Professors Bridget Crawford and Victoria Haneman discuss the estate and gift tax and how it could apply to the gifts received by Supreme Court Justice Clarence Thomas. For additional coverage, read these articles in Tax Notes:Harlan Crow Dodges Wyden Request for Details on Thomas GiftsWyden May Pursue Harlan Crow's Tax RecordsWyden Asks Harlan Crow for Details of Gifts to ThomasIn our “Editors' Corner” segment, Ellen Aprill, the John E. Anderson Professor of Tax Law Emerita at Loyola Marymount University's Loyola Law School, chats about her Tax Notes piece, “Reviewing For-Profit Philanthropy and the 1969 Tax Reform Act.” Follow us on Twitter:David Stewart: @TaxStewTax Notes: @TaxNotes***CreditsHost: David D. StewartExecutive Producers: Jasper B. Smith, Paige JonesShowrunner: Jordan ParrishAudio Engineers: Jordan Parrish, Peyton RhodesGuest Relations: Alexis Hart

Tax evasion is an illegal attempt to defeat the imposition of taxes by individuals, corporations, trusts, and others. Tax evasion often entails the deliberate misrepresentation of the taxpayer's affairs to the tax authorities to reduce the taxpayer's tax liability, and it includes dishonest tax reporting, declaring less income, profits or gains than the amounts actually earned, overstating deductions, using bribes against authorities in countries with high corruption rates and hiding money in secret locations. Tax evasion is an activity commonly associated with the informal economy. One measure of the extent of tax evasion (the "tax gap") is the amount of unreported income, which is the difference between the amount of income that should be reported to the tax authorities and the actual amount reported. In contrast, tax avoidance is the legal use of tax laws to reduce one's tax burden. Both tax evasion and tax avoidance can be viewed as forms of tax noncompliance, as they describe a range of activities that intend to subvert a state's tax system, but such classification of tax avoidance is disputable since avoidance is lawful in self-creating systems. Both tax evasion and tax avoidance can be practiced by corporations, trusts, or individuals. Economics. In 1968, Nobel laureate economist Gary Becker first theorized the economics of crime, on the basis of which authors M G Allingham and A Sandmo produced, in 1972, an economic model of tax evasion. This model deals with the evasion of income tax, the main source of tax revenue in developed countries. According to the authors, the level of evasion of income tax depends on the detection probability and the level of punishment provided by law. Later studies, however, pointed to limitations of the model, highlighting that individuals are also more likely to comply with taxes when they believe that tax money is appropriately used and when they can take part in public decisions. The literature's theoretical models are elegant in their effort to identify the variables likely to affect non-compliance. Alternative specifications, however, yield conflicting results concerning both the signs and magnitudes of variables believed to affect tax evasion. Empirical work is required to resolve the theoretical ambiguities. Income tax evasion appears to be positively influenced by the tax rate, the unemployment rate, the level of income and dissatisfaction with government. The U.S. Tax Reform Act of 1986 appears to have reduced tax evasion in the United States. In a 2017 study Alstadsæter et al concluded based on random stratified audits and leaked data that occurrence of tax evasion rises sharply as amount of wealth rises and that the very richest are about 10 times more likely than average people to engage in tax evasion. --- Send in a voice message: https://anchor.fm/law-school/message Support this podcast: https://anchor.fm/law-school/support

Can you retire when you have debt? This episode of the One for the Money podcast focuses on answering that question. More and more Americans are retiring with a mortgage, but is it right for you? Doing so depends on many factors that can't be assessed in isolation. Listen to the end when I share a simple strategy to pay off your mortgage early.In this episode...Keeping mortgages past age 65 [01:44]Why are more people retiring with a mortgage? [02:57]Retiring with a mortgage [06:58]Debt and relationships [08:16]Advantages of paying off the mortgageWhether you can retire or retire early with debt depends on the type of debt you have. If you don't have a three- to six-month emergency fund, have multiple sources of debt, have multiple credit cards to pay off, have an auto loan, and have a mortgage, then the answer is almost certainly no. If you only have a mortgage, retiring may be possible depending on several factors, such as retirement income, mortgage payment, mortgage interest rate, and years remaining on the mortgage. Having no debt, including a mortgage, makes retirement so much easier. I wouldn't recommend an early retirement before paying off your home. Paying off your mortgage early essentially provides a risk-free rate of return. For example, if your mortgage rate is at 5%, paying it off early saves 5%. While that savings isn't an incredible rate of return, it's pretty fantastic, considering you don't have to pay that on the loan. However, more and more Americans are entering retirement with a mortgage. A 2016 report by Harvard's Joint Center for Housing Studies showed that in 1996, 25% of homeowners in their late 60s to 70s still had a mortgage, but in 2016 that number had jumped to nearly 50%.Why are more people retiring with mortgages?Several developments over the last three decades may explain the dramatic increase in the share of retirees with mortgages. Americans today seem to have less aversion to debt than the generation that grew up after the Great Depression. Although consumer debt levels always ebb and flow with economic cycles, total debt as a percentage of disposable income is significantly higher today than in the late 90s. The Tax Reform Act of 1986 made mortgages a more attractive form of debt. The reform eliminated the income tax deductions for interest on credit cards and other types of consumer debt with one exception: mortgage interest.For the majority of the last decade, mortgage rates were extremely low. While the rates have climbed rapidly this year, 85% of homeowners in the United States have a rate lower than 5%. That makes taking a mortgage into retirement a little more manageable. People have also been purchasing homes later in life because homes have become expensive. In the late 80s and early 90s, housing prices were about three times the typical household earnings, while prices today are more than four times.Paying off your mortgage earlyA simple tip to paying off a mortgage early is making one extra payment each year, applied to the principal. What kind of difference can that make? Let's say you secured a 30-year fixed-rate mortgage for $400,000 with a 5% interest rate. Your regular monthly payment would be $2147 per month. If you make an extra monthly payment of $2147/per year, you'd pay off your 30-year mortgage four years and five months early and save over $62,000 in interest in the process. That's a huge savings of time and money, which would set you up very well for early retirement. Ultimately, a paid-for home gives you something a mortgage cannot: peace of mind. Removing that worry significantly impacts psychology and happiness, which is why I believe a paid-for home is a critical piece of early retirement planning.Resources & People Mentioned

Erik Brynjolfsson's paper “The Turing Trap: The Promise and Peril of Human-Like Artificial Intelligence” argues that the “imitation game” of creating tech that mimics humans has increased productivity and living standards, but does not exist without costs. Those costs make up “The Turing Trap” which happens when humans not involved in creating AI cannot compete with the productivity and efficiency of the robots designed to do their jobs, and lose control of their economic and political futures. The Turing Trap sits at the center of contemporary labor force struggles, including the Great Resignation, the fight for “good jobs” and cratering male labor force participation. Michael Strain, who directs AEI's Economic Policy Studies, joins Dr. Brynjolfsson and I to discuss what economic policy can do to encourage more innovators aim higher and create machines that augment rather than replace human labor, and how that effort is crucial to the American Dream. Mentioned in the episode https://www.brynjolfsson.com/ (Erik Brynjolfsson) https://www.amazon.com/Utopia-Thomas-More/dp/1512093386 (Utopia Paperback by Thomas More) https://www.amazon.com/Foundation-Isaac-Asimov/dp/0553293354 (Foundation Mass Market Paperback by Isaac Asimov) https://www.amazon.com/Worldly-Philosophers-Economic-Thinkers-Library/dp/1441743669 (Heilbronner's Worldly Philosophers) https://newsinfo.iu.edu/news/page/normal/5075.html (Doug Hofstadter) https://digitaleconomy.stanford.edu/news/the-turing-trap-the-promise-peril-of-human-like-artificial-intelligence/ (The Turing Trap by Erik Brynjolfsson) https://www.aei.org/profile/michael-r-strain/ (Michael R. Strain) https://www.amazon.com/American-Dream-Not-Dead-Populism/dp/159947557X (The American Dream is Not Dead) https://www.city-journal.org/html/when-high-schools-shaped-americas-destiny-15254.html (The High School Movement) https://taxfoundation.org/tax-basics/pigouvian-tax/#:~:text=A%20Pigouvian%20tax%2C%20named%20after,sugar%20taxes%2C%20and%20carbon%20taxes. (Pigouvian Tax) https://taxfoundation.org/tax-basics/consumption-tax/ (Consumption Tax) https://www.investopedia.com/terms/t/taxreformact1986.asp (Tax Reform Act of 1986) https://scholar.harvard.edu/files/mankiw/files/smart_taxes.pdf (Greg Mankiw Pigou Club)

This episode talks about Vell's balling on a budget. The Good Read for this episode is Tax-Free Wealth: How to Build Massive Wealth by Permanently Lowering Your Taxes by Tom Wheelwright. After 31 years… Major Tax Reform — and what it means to you True overhaul of the tax law only happens about once every 30 years. In the past 75 years, the U.S. tax law has only seen three major revisions; one in 1954, the next in 1986 and most recently at the end of 2017. I have been fortunate as a tax professional to be heavily involved in the last two reforms. In 1986, I was a manager in the National Tax Department (NTD) of Ernst & Whinney (now Ernst Young). My primary responsibility during my three years there was to create, teach and administer tax courses to the Firm's U.S. tax professionals. Just as I arrived in the summer of 1985, I discovered that much of NTD's resources were being devoted to following the tax reform bill that had been introduced that year. This gave me, as a young tax professional, some amazing insight into the legislative process as well as the horse trading for tax reform. President Reagan wanted two things; simplicity (the 1985 act was call the Tax Simplification Act of 1985) and he wanted it to be revenue neutral (no net increase to the deficit). It took another year before bill was finally passed as the Tax Reform Act of 1986. (Simplicity took a back seat to other goals of the reform.) In 1986 the big winners from tax reform were individuals, with significantly lower tax rates, insurance companies (who got by relatively unscathed) and businesses. The big loser was real estate investors (the passive loss rules were used as a last-ditch effort to make a “revenue-neutral” bill. The result a few years later was the Savings and Loan debacle accompanied by a massive real estate depression and the government bailing out real estate through the RTC (Resolution Trust Corporation). Fast forward 31 years to 2017. What's Popping in Vell's World consist of Nia Long UPDATE, Delux Magazine's 2022 Power 100, Hurricane Ian, and more. Follow on Facebook, Instagram, and Twitter @VellsWorldPodcast Email vellsworldpodcast@ldmonger.com with any comments, questions, or concerns you would like mentioned in our upcoming episodes. To sponsor an episode send us an email. Don't forget to subscribe, tell a friend, and follow on all social media platforms. You can leave a voice message and become a monetary supporter for as little as .99 cent on the anchor.fm. --- Send in a voice message: https://anchor.fm/vellsworldpodcast/message Support this podcast: https://anchor.fm/vellsworldpodcast/support

In this fifth episiode of The Rust Belt Apartment Podcast the team sits down with John MacFarland of Cost Segregation Services to take a deep dive into past, present and future of cost segregation in real estate. 00:00 - John MacFarland Intro2:35 - Gary's History Lesson3:20 - Component Depreciation 4:55 – The Tax Reform Act of 1986 5:50 - Hospital Corporation of America vs Commissioner6:25 - Cost Segregation 11:22 - Definition of the Cost Segregation process 12:50 - 5 Year and 15 Year Depreciation15:25 - Processes & Guidelines16:45 - Engineering Study of the Asset18:18 - Can I conduct a cost segregation study myself?20:30 - Defense of methodology22:50 - Return on Investment24:35 - The Look Back Study26:25 - Predictive Analysis28:00 - CSSI, the IRS and Audits32:21 - OK John, what is the catch? This sounds too good to be true36:38 - Size and scope of CSSI Cost Segregation Studies41:45 - Bonus Depreciation vs Cost Segregation45:25 - Post-Sale Cost Segregation50:21 - Predictive Analysis Reviews51:00 - $50 Million Dollar Case Study1:00:15 - $15 Million Dollar Case Study1:01:00 - $6 Million Dollar Case Study1:03:16 - Closing Remarks  

The United States Tax Court (in case citations, T.C.) is a federal trial court of record established by Congress under Article I of the U.S. Constitution, section 8 of which provides (in part) that the Congress has the power to "constitute Tribunals inferior to the supreme Court". The Tax Court specializes in adjudicating disputes over federal income tax, generally prior to the time at which formal tax assessments are made by the Internal Revenue Service. Though taxpayers may choose to litigate tax matters in a variety of legal settings, outside of bankruptcy, the Tax Court is the only forum in which taxpayers may do so without having first paid the disputed tax in full. Parties who contest the imposition of a tax may also bring an action in any United States District Court, or in the United States Court of Federal Claims; however these venues require that the tax be paid first, and that the party then file a lawsuit to recover the contested amount paid (the "full payment rule" of Flora v United States). The main emblem of the tax court represents a fasces. History. The first incarnation of the Tax Court was the "U.S. Board of Tax Appeals", established by Congress in the Revenue Act of 1924 (also known as the Mellon tax bill) in order to address the increasing complexity of tax-related litigation. Those serving on the Board were simply designated as "members." The members of the Board were empowered to select, on a biennial basis, one of their members as "chairman." In July 1924, Coolidge announced the appointment of the first twelve appointees, of which seven members were appointed from private life and the other five from the Bureau of Internal Revenue. Additional members were appointed in the fall, and the Board when fully constituted originally had 16 members, with Charles D. Hamel serving as the first Chairman. The Board was initially established as an "independent agency in the executive branch of the government." It was housed in the Internal Revenue Service Building in the Federal Triangle. The first session of the Board of Tax Appeals spanned July 16, 1924 to May 31, 1925. In 1929, the United States Supreme Court indicated that the Board of Tax Appeals was not a "court," but was instead "an executive or administrative board, upon the decision of which the parties are given an opportunity to base a petition for review to the courts after the administrative inquiry of the Board has been had and decided." In 1942, Congress passed the Revenue Act of 1942, renaming the Board as the "Tax Court of the United States". With this change, the Members became Judges and the Chairman became the Presiding Judge. By 1956, overcrowding and the desire to separate judicial and executive powers led to initial attempts to relocate the court. In 1962, Secretary of the Treasury Douglas Dillon appealed to the U.S. General Services Administration (GSA) to incorporate funds for the design of a new building in its upcoming budget. The GSA allocated $450,000, and commissioned renowned architect Victor A Lundy, who produced a design that was approved in 1966. However, funding constraints brought on by the Vietnam War delayed the start of construction until 1972. The Tax Court was again renamed to its current formal designation in the Tax Reform Act of 1969, changing it from an historically administrative court to a full judicial court. The completed United States Tax Court Building was dedicated on November 22, 1974, the fiftieth anniversary of the Revenue Act that created the court. --- Send in a voice message: https://anchor.fm/law-school/message Support this podcast: https://anchor.fm/law-school/support

Have you ever wondered what it would be like to be a knight?  Perhaps there are some perks and what about responsibilities?  Well on this episode we have a conversation with a royal knight to learn about his story and get some advice from a knightBrad Blazar is recognized globally as an expert when it comes to raising capital. At the young age of 23, he started and was the founder of a very successful company in the oil and gas industry. This was brought to an abrupt stop in the late 80's due to The Tax Reform Act and collapsing oil prices, but it was not about to slow him down. ​Brad went on to find his true passion in life, raising money and helping people. He has raised billions of dollars in the last years for investment sponsors and those in real estate in addition to closing the largest sales for multiple companies. Now Brad consults to companies needing access to capital around the world.Brad's premier coaching program Capital School has reached a global audience around the world.Support the showNext Steps Share your thoughts with a review - https://www.uncensoredadviceformen.com/reviews/ Let's connect on LinkedIn - https://www.linkedin.com/in/joshuabrucewilson/ Subscribe and Watch on YouTube - https://www.youtube.com/channel/UCI11BikVb5CbEwIwjmR89Iw

Scott and Jeff talk with Ken Kies about TRA86, the last major tax reform since the Tax Cuts and Jobs Act. Ken was the Chief Republican Tax Counsel of the House Ways and Means Committee during the process of passing TRA86. How bipartisan was the TRA86? Was Ronald Reagan involved in the details? How much did the lobbyists matter? This episode gets into the details of TRA86 from someone who was on the front lines of tax reform when it happened. 

Brad Blazar is recognized globally as an expert when it comes to raising capital. At the young age of 23, he started and was the founder of a very successful company in the oil and gas industry. This was brought to an abrupt stop in the late '80s due to The Tax Reform Act and […]

Rebecca Walser thinks that the 401(k) is a failed experiment. In her opinion, the Revenue Act of 1978 was nothing more than a corporate tax dodge for highly compensated executives, and not a state retirement vehicle. While working as a benefits consultant, Rebecca was looking for a way to administer an alternative savings plan for a client as opposed to just a cash bonus savings plan. She came upon the 401(k) provision and noticed it was a “tax dodge” that could be leveraged. One of the main conditions for this to happen was to ask the IRS if they could allow for the provision to not be taxable – otherwise, Rebecca's client would have “phantom income.” They needed the IRS to confirm that the money wouldn't be taxed until it was accessed. At that time, corporations were severely underfunding their pensions. On the benefits side, they were responsible for putting money away and investing the funds, as well as for having enough to honor those pensions and meeting those obligations. When the 401(k) provision came to be, it shifted the burden to individuals to elect to make the contribution – and all of this happened without any testing. In the late ‘70s and early ‘80s, it was a stockbroker's world. People had to call their stockbroker to invest in the market. Private banking and stock brokerages weren't something mainstream America had access to, and suddenly Wall Street had massive million-dollar-cost averaging and it was a way Wall Street had exploded. When it comes to longitudinal, long-term investments – and when you look at various indexes – Americans don't make the minimum averages of any index. There's one piece of advice that Rebecca considers to be absolutely right every single time, and that you can take to the bank: ‘Buy Low, Sell High'. When you look at behavioral finance, you realize people have a fear of missing out when the market is high. Even though some people may have had their portfolio 40% higher pre-Corona, they're still thinking that there's space for it to grow, so they don't want to sell out. When some investors start to see a stock coming down, they keep their position of waiting for it to get to “one dollar higher.” What happens in these cases is that the stock declines and reaches a low at which point the investor says, ‘I can't afford to lose anymore' – and ends up selling when the stock is at the bottom. By nature, when we're managing our money, we do the opposite of what we're supposed to do. The DALBAR Statistics show that the average investor has done so much worse than the average and indexes themselves.  Wall Street attached itself to pre-tax wealth-building. When pre-tax paying came about organically, people were intrigued by the idea of putting their money in a “silo,” where they could save up and have to pay taxes on it only when they retired – and since they would eventually be in a lower tax bracket, they could pay less taxes. However, they forgot to tell people one thing: in order for you to be able to choose your tax rates when you're going through your lifetime, taxes have to remain relatively stable During Reagan's second term, with the passing of the Tax Reform Act of 1986, the top bracket to 28%. This widened the bracket, and people who were making $28k a year (after deductions) became part of that bracket. The retirement of baby boomers will shift us to the new phase of taxation in America. It's the thing that has been talked about since the ‘70s: this decade between 2020 and 2030 will be the decade where everything that has been pushed down the road will come to fruition. For the first time in the history of America, the country will have a European-styled system for a third of its people (one-third of Americans will be on social security and Medicare).  Back in 2009-2010, David Walker stated that tax rates would have to double in order keep the U.S. solvent. Not only does he still stand by that statement but he also thinks that tax rates in the future will never be as low as they are today. Before the pandemic, Rebecca Walser was extremely concerned. Now, after having seen how the world dealt with Covid-19, she is mortified by how scary of a fiscal position America is in, especially because of its special status as the World Reserve Currency. Currently, there is over $8 trillion of printed stimulus currency in the U.S.. To give some perspective: Reagan took office in January of 1981. One trillion dollars of debt wasn't reached until October of that year. From October of 1981 till February of 2020, the Federal debt was under 29 trillion dollars. In the last 20 months, $8 trillion has been printed to deal with Covid-19. Before the pandemic, Rebecca was worried. Now, we're at a point where we're talking about a global Central Bank reckoning. The U.S. has been the World Reserve Currency since 1944. In the past, China and India wouldn't bilaterally trade in their domestic currencies, they would buy dollars and use those to trade.  Then, you had the BRICS (Brazil, Russia, India, China, and South America) wanting to make a pact to bilaterally trade for the first time. Over the last 15 years, the dollar hasn't been used much in bilateral trades in countries around the world.  Three months ago, China announced its intention of doing its own digital currency – two months ago, the UK announced its move toward digital currency. As the world moves toward digital currency, the U.S. dollar will literally become irrelevant as the World Reserve Currency. Nearly 3 trillion dollars, nearly half of the U.S. annual spending, comes from its ability to sell its paper to the world. If this opportunity were to end, America would lose almost half of its lifeline (support to the military, social assistance, etc.).

Welcome to the Instant Trivia podcast episode 256, where we ask the best trivia on the Internet. Round 1. Category: Your Basic Monster 1: Count yourself lucky to know that one of these monsters drinks your blood and can turn into a bat. vampire. 2: A full moon gets this type of monster in a hairy situation. werewolf. 3: In a Mary Shelley work, he's the doctor who used electricity to charge his constructed monster to life. Dr. Frankenstein. 4: St. George fought and killed one of these mythical, fire-breathing monsters. dragon. 5: This monster is a giant, one-eyed creature from Greek mythology. cyclops. Round 2. Category: Poets 1: Georgia poet Sidney Lanier spent several months in a Maryland prison during this war. the Civil War. 2: His poems, chiefly in the Scottish dialect, was first published July 31, 1786, in Kilmarnock. Robert Burns. 3: In one of his cute couplets he quipped, "A bit of talcum is always walcum". Ogden Nash. 4: Charles Baudelaire's masterpiece, "Les Fleurs du mal", translates as these "of Evil". Flowers. 5: This Maine poetess sometimes wrote under the shorter pen name Nancy Boyd. Edna St. Vincent Millay. Round 3. Category: Stupid Answers 1: It's the first amendment to the U.S. Constitution that mentions religion. First Amendment. 2: It's the name given the nearly 1-week-long military conflict between Israel and several Arab neighbors in 1967. Six-Day War. 3: Carvings of a bell and a star are found on her gravestone in Porum, Oklahoma. Belle Starr. 4: (Hi, I'm Jason Williams of the New Jersey Nets) In 1999 this flashy Sacramento Kings guard was second in voting for NBA Rookie of the Year. Jason Williams. 5: Kodiak Island is the habitat of this type of bear, Ursus arctos middendorffi. Kodiak bear. Round 4. Category: Denmark 1: This most important naval battle of World War I took place off Denmark's coast. the Battle of Jutland. 2: Between 1513 and 1972, all Danish kings were alternately name Frederik and this pious name. Christian. 3: Now a ruin, the Trelleborg Fortress of these warriors was built using half the timber on the island of Zealand. the Vikings. 4: This 11th century "Great" Dane united Denmark, England and Norway. Canute the Great. 5: This 11th century "Great" Dane united Denmark, England and Norway. Canute the Great. Round 5. Category: Financial Matters 1: This alphanumeric clause of the 1978 Tax Reform Act now enrolls over 40 million Americans. 401(k). 2: A killer bee is an investment banker helping thwart a hostile one of these. takeover. 3: Appropriately, investing in housing can be one of these, letting you pay less to the IRS. tax shelter. 4: Term for the interest rate on a bond, as well as a piece of paper that lowers your grocery bill. coupon. 5: This 6-letter word can mean frugality, or a savings and loan association. thrift. Thanks for listening! Come back tomorrow for more exciting trivia!

Can you sell your rental property as a 1031 exchange? It depends. Toby Mathis and Jeff Webb of Anderson Advisors answer your tax questions. Submit your tax question to taxtuesday@andersonadvisors. Highlights/Topics: Can I offer my condo as a rent-to-own rental for six months and sell it as a 1031 exchange? If you're offering the condo as rent-to-own, you're contemplating the sale of that property, so it becomes a sale property, not a rental property, and taxed differently Should I invest into limited partnership (LP) multifamily syndications with the same LLC as I have active personal rentals? Ideally, everything should be in its own LLC or you may be at risk for outside liability I am a co-founder of a startup (C Corp). Can I establish a self-directed Roth IRA and put my company share in it? Yes, you can, but it depends on how you go about doing it - Rollover as Business Start-ups (ROBS) For all questions/answers discussed, sign up to be a Platinum member to view the replay! Go to iTunes to leave a review of the Tax Tuesday podcast. Resources: Infinity Investing: How The Rich Get Richer And How You Can Do The Same by Toby Mathis http://aba.link/infinitybook 1031 Exchange https://www.irs.gov/pub/irs-news/fs-08-18.pdf IRS - Section 168 https://www.irs.gov/pub/irs-drop/rr-14-17.pdf IRS - Section 179 https://www.irs.gov/newsroom/irs-issues-guidance-on-section-179-expenses-and-section-168g-depreciation-under-tax-cuts-and-jobs-act Bonus Depreciation https://www.irs.gov/newsroom/new-rules-and-limitations-for-depreciation-and-expensing-under-the-tax-cuts-and-jobs-act Depreciation Recapture https://www.investopedia.com/terms/d/depreciationrecapture.asp Entity Formation https://andersonadvisors.com/entity_formation/ Cost Segregation Authority https://costsegauthority.com/ Real Estate Professional Requirements https://www.irs.gov/pub/irs-utl/33-Real Estate Professionals.pdf Airbnb https://www.airbnb.com/ Retirement Plans https://andersonadvisors.com/retirement_plan/ Wills and Trusts https://andersonadvisors.com/living_trusts/ Tax Reform Act of 1986 https://www.investopedia.com/terms/t/taxreformact1986.asp Self-Employment Tax https://www.irs.gov/businesses/small-businesses-self-employed/self-employment-tax-social-security-and-medicare-taxes Old Age, Survivors, and Disability Insurance (OASDI) https://www.ssa.gov/policy/docs/progdesc/sspus/oasdi.pdf Capital Gains and Losses https://www.irs.gov/newsroom/capital-gains-and-losses-10-helpful-facts-to-know-0 Section 121 - Capital Gains Exclusion https://www.irs.gov/taxtopics/tc701 Step-Up in Basis https://www.investopedia.com/terms/s/stepupinbasis.asp#:~:text=A%20step%2Dup%20in%20basis%20is%20the%20readjustment%20of%20the,for%20tax%20purposes%20upon%20inheritance.&text=The%20asset%20receives%20a%20step,of%20property%20transferred%20at%20death. Fannie Mae https://www.fanniemae.com/ Freddie Mac http://www.freddiemac.com/ Schedule A https://www.irs.gov/forms-pubs/about-schedule-a-form-1040 Schedule C https://www.irs.gov/forms-pubs/about-schedule-c-form-1040 Schedule E https://www.irs.gov/forms-pubs/about-schedule-e-form-1040 Schedule K-1 https://www.irs.gov/forms-pubs/about-schedule-k-1-form-1065 Unrelated Business Income Tax (UBIT) https://www.irs.gov/charities-non-profits/unrelated-business-income-tax Unrelated Debt-Financed Income (UDFI) https://www.irs.gov/pub/irs-tege/eotopicn86.pdf Rollover as Business Start-ups (ROBS) https://www.irs.gov/retirement-plans/rollovers-as-business-start-ups-compliance-project IRC 469(c)7 https://www.law.cornell.edu/uscode/text/26/469 Secure Act https://www.congress.gov/bill/116th-congress/house-bill/1994/text Toby Mathis http://tobymathis.com/about-toby-mathis/ Anderson Advisors https://andersonadvisors.com/ Anderson Advisors Events https://andersonadvisors.com/all-events/ Events@andersonadvisors.com Anderson Advisors Tax and Asset Protection Workshop https://andersonadvisors.com/asset-protection/ Anderson Advisors Tax-Wise Workshop https://andersonadvisors.com/tax-wise-workshop-for-businesses-investors/ Anderson Advisors Infinity Investing Workshop https://andersonadvisors.com/investing-workshop-passive-income-generating-machine/ Anderson Advisors on YouTube https://www.youtube.com/channel/UCX5nh607M8hSBLiMB9MgbIQ Anderson Advisors on Facebook https://www.facebook.com/AndersonBusinessAdvisors/ Anderson Advisors Podcast https://andersonadvisors.com/podcast/  

On this episode of the Impact Real Estate Podcast, we chat with George Barry, a pioneer of the tax credit market and President at Foss & Company. George takes us back to the 1980s and gives us a necessary lesson of how and why the Tax Reform Act came to be. As a veteran of the space, George also looks into the future and tells us the changes and trends he sees in the tax credit world. It's the kind of episode we absolutely love here at the Impact Real Estate Podcast.

Tax experts discuss the SALT Cap Workaround, available to partnerships and S corporations, comprised solely of individual partners or shareholders. This workaround will enable those businesses that qualify, to deduct from their federal taxes, the $10,000. cap on state and local tax deductions, imposed by the 2017 Tax Reform Act.

Whether you support him or not President Biden is a pretty savvy politician. He’s been waiting all of his political career to put forward proposals that will put him in the history books as making an impact for the social good of society. It is clear from his first 100 days in office that his plan includes a lot of spending, close to 5 trillion dollars. To pay for all this spending he is looking to increase taxes and deficit spending. The tax increases that have been proposed will have an impact on small businesses directly and indirectly. The first area that will impact small businesses is the corporate tax rate. While the majority of small businesses are not corporate filers there is about 10% of small businesses are and will be impacted by the change in the corporate tax rate. The other way this tax increase could impact a larger percentage of small businesses is through the trickle-down effect.  The vast majority of small businesses are pass-through tax entities. What that means is, say you have a partnership or S corporation you don’t pay the corporate tax rate but you pay the personal tax rate based on your 1040 return. Where President Biden’s tax plan will impact more small businesses is the limit he has proposed on qualified business income tax deduction. The qualified business income tax deduction was part of the 2017 Tax Reform Act and gave pass-through tax entities the ability to lower their reported taxable income by 20%. The proposed plan is to remove that deduction for filers reporting over a million in profits. The other area that could impact small business owners is the capital gains tax increase. While most people think the capital gains tax only impacts the wealthy on Wall Street the impact for small business owners comes into play if they decide to sell their business. As the Baby Boomer population nears the retirement stage of their life they are looking to sell their businesses. We are seeing increased interest from the Millennial generation to start or buy businesses. However, the capital gains tax proposed could result in a 50% tax on the proceeds from the sale of your business depending on what state you live in. The other topic that doesn’t always get brought into the tax conversation but certainly has an impact, is payroll taxes. The PRO Act was recently passed in the House of Representatives and it is part of the President's infrastructure proposals. The PRO Act does two primary things, it makes it much easier for employees to unionize but the big thing for small businesses is that it reclassifies independent contractors. If you are a small business that uses independent contractors the PRO Act would mean those contractors would have to be classified as employees for the time they work for you. This means the business would be responsible to pay payroll taxes on the amount paid to their contractors. Also, depending on the number of hours worked the business would have to offer their contractors benefits as if they were normal employees. What I’ve learned from the pandemic and running a small business for the last 20 years. No one has a clue about what will happen in the future so the best you can do is to base your decisions today on what you can see. Today we see more taxes and regulations being proposed and the current administration is more pro-worker than pro-business. What I hear from my clients is they are losing their appetite to take risks and hire more people due to what they see today.  Resources Shared: The Marks Group

This week is the 33rd anniversary of the Tax Reform Act of 1986.  Mike discusses the current tax code and the opportunities retirees have to take advantage of our current low tax rates.

The late 1980s saw massive changes in the real estate industry. The passage of the Tax Reform Act of 1986 and then the S&L crisis that followed transitioned the industry into a modern, institutional business. During this time, Dr. Peter Linneman had just started reworking the real estate program at the University of Pennsylvania's Wharton School.Dr. Linneman was an outsider economist who saw the obvious future in information, transparency, and capital flows. This week's conversation dives into Dr. Linneman's experience, from his perch at Wharton where he learned from and then counseled the then giants in the industry on this transformation as well as trained the future generation of leaders in the business.Dr. Linneman's story begins in Lima, OH, which at the time was a booming industrial city. He supported himself starting at a young age to attend private high school and went on to obtain his masters and Ph.D. in economics from the University of Chicago. During his studies, he was trained by prominent economists including Nobel Prize winners Milton Friedman, Gary Becker, George Stigler, Ted Schultz and Jim Heckman. As an economist by trade, he started his career in general economics and industrial organization, which at the time was mostly manufacturing. Soon after, he pivoted to commercial real estate.The Dean the University of Pennsylvania approached Dr. Linneman and asked him to evaluate the real estate curriculum in their business program. Following his research, he developed and designed Wharton's renowned real estate program and subsequently served as the founding chairman of the department and the Director of Wharton's Samuel Zell and Robert Lurie Real Estate Center for 13 years. Quite literally, Dr. Linneman wrote the textbook for collegiate real estate programs.Beyond his time in academia, Dr. Linneman has had a tenured career as a Founding Principal of Linneman Associates, a leading real estate advisory firm; CEO of American Land Fund; and CEO of KL Realty. He's also advised leading corporations and served on over 20 public and private boards, including serving as Chairman of Rockefeller Center Properties, where he led the successful restructuring and sale of Rockefeller Center in the mid-1990s.While Dr. Linneman is now retired from Wharton's faculty, he and his wife Kathy support a program, Save A Mind, Give A Choice, which commits to educating young children of extreme poverty in rural Kenya. Dr. Linneman contributions to the academic study of the field has been instrumental in training the leaders of the real estate industry today and subsequent educational programs in real estate fields.

Donate to The Permaculture Podcast Online: via PayPal Venmo: @permaculturepodcast My guest is Victoria Redhed Miller author of Pure Poultry and her latest From No-Knead to Sourdough. These books pull on her experiences as an off-the-grid homesteader in the Pacific Northwest and are available from New Society Publishers. Our conversation today, however, comes from her second book, Craft Distilling, as we discuss what is involved with legally crafting our own booze at home. With that in mind, we about the lunacy of laws when everything we want to do at home or on our homestead is illegal and what we can do to bring about change, as well as a history of the role of distilling, liquor, and taxation in the founding days of the United States. This is the first of two conversations on distilling with Victoria. We recorded nearly two hours of audio together in a single session, so end here with some of my thoughts on this need for change and how we can engage. The other half of this, out in a few weeks, begins with Victoria walking us through an overview of the distilling process and then diving deeply in. You can find out more about Victoria, Craft Distilling and her other books at victoriaredhedmiller.com, or through her publisher, NewSociety.com. After listening to our discussion about working to make craft distilling legal, what issue matters enough that you would start making some phone calls and writing letters to engage in the political process as a private citizen with a passion for ecological and individual progress? I'd love to hear from you. Email: The Permaculture Podcast Write: The Permaculture Podcast The Permaculture Podcast From here, the next regular interview is a conversation with The Mudgirls, a women-owned and operation Natural Builders Collective in British Columbia, Canada, and the authors responsible for the upcoming Mudgirls Manifesto. Until then, spend each day creating the world you want to live in my getting involved and taking care of Earth, yourself, and each other. Resources Victoria Redhed Miller Craft Distilling New Society Publishers Whiskey Rebellion (Wiki) H.R.2903 - Craft Beverage Modernization and Tax Reform Act of 2015 - The bill we want to be passed! It includes a provision to exempt home distilleries from excise tax and bonding requirements when making liquor for personal or family use.

A Technology FoundationFred Tuomi was born in Minnesota, and went on to attend high school and college in Georgia, receiving a B.A. in Business Information Systems and a Masters in Business Administration from Georgia State University. While working for the Computer Sciences Corporation doing consulting, Fred connected with John Lie-Nelsen of Consolidated Capital and Johnstown Properties. This opportunity led to Fred creating the very first automated, apartment management system.“The idea was, let's use these things called computers that make everything more efficient and increase productivity… Let's put it where we have most of our people. To really get the benefits of productivity enhancement, you have to make as many employees as possible productive, not just a few back at the home office.”When the Tax Reform Act of 1986 killed the real estate limited partnership business, Fred connected with John Williams and John Glover of Post Properties, and then eventually was invited to join Equity Residential by Doug Crocker.Equity ResidentialFred and his family moved from Atlanta to Chicago, where he became President of Property Management at Equity Residential.“We were trying to build two things. One was a uniform platform that was highly efficient… Second thing was to build a company culture.”Fred shares how Sam Zell, Founder, and Chairman of Equity Residential (see our interview with Zell in Season One of Leading Voices), influenced and shaped its culture. Under Zell's vision for acquiring irreplaceable assets, the company's goal evolved from a gross asset accumulation model to a highly refined portfolio and operational platform. Technology also played a critical role throughout the business, including in revenue management, allowing them to study the relationship of supply and demand in a way that hadn't been possible before.Entering and Exiting RetirementIt wasn't long after Tuomi retired to spend more time with his grandkids and family, that he was approached by Tom Barrack and Justin Chang of Colony Capital. They wanted his advice on translating his apartment management strategy to the single-family rental business. While many doubted that a long-term ownership and management platform for the single-family market was possible, Fred was able to bring his experience from rolling up assets in the multifamily business and over time saw the business coming together with efficiencies and metrics comparable to the apartment industry. Each asset was bought with an eye on the long-term growth of stabilized income streams which meant that with the various mergers of the Waypoint, Starwood, Colony and Blackstone Invitation Homes portfolios, the footprint didn't just get wider, it got more deep and dense, improving efficiency. Technology in the hands of the consumer and the front line employee also made these efficiencies possible.“We are now running 2,200+ homes from one centralized property management team similar to an apartment property office. In terms of headcount to assets, we are much more efficient than the apartment business. But we have to employ a lot more technology to bridge that gap.”The Future of the MarketFred sees Millennials entering the housing market society's increased longevity as signposts for long-term market growth, and emphasizes the importance of developers stimulating the housing supply if we don't want pricing to increase.

The 2017 Tax reform is a pure gift for Real Estate Investors if you truly know the in's and out's of the bill. In this episode Jeff Watson will take you deep into the 2017 Tax Reform bill and how you can get the most out of it

2-13-18 Tonight we're continuing our AMMA Conference Speaker Showcase and have Greg Heller-LaBelle, owner of The Colony Meadery and Chrissie Manion Zaerpoor, author of The Art of Mead and Food Pairing. Greg Heller-LaBelle is the CEO and co-founder of The Colony Meadery in Allentown, PA. Prior to that, he drove the success and growth of startup ventures in industries ranging from community banking to math educational technology. A passionate believer in community and economic development, Greg started his career at the economic development nonprofit Riverlife in Pittsburgh, where he coordinated communications around major land development projects, including stadiums and Point State Park revitalization. He also has worked and volunteered on several political campaigns, ranging from city council to president. In his off time, Greg was a writer who had successful blogs on politics, beer and art (and, sometimes, how they interact). An alumnus of Pitt and Lehigh, he's lived in Bethlehem three times, Pittsburgh twice, and Mexico once. Now he lives in Bethlehem with his wife and their bulldog, Disraeli. As Legislative Affairs Chair of the AMMA, Greg has overseen several major achievements, including: common formulas and COLAs from the TTB; a relaxation of barrel aging in meads; and the passage of the Craft Beverage Modernization and Tax Reform Act, which is the first legislation to carve out specific tax benefits for mead. In Pennsylvania, his work with the Assembly led to a change in laws that permitted meaderies to work with wholesalers. Greg will be giving a wide-ranging talk on how to successfully interact with the TTB at the AMMA Conference, featuring everything from formulas to labels, with a robust time for Q&A. Our second guest this evening, Chrissie Manion Zaerpoor, holds a B.S. in Physics from Arizona State University, and “most of a master's degree” in electrical engineering and semiconductor materials and device characterization from Columbia University. She was a process engineer and engineering manager at Intel Corporation for 13 years before founding Kookoolan Farms in Yamhill, Oregon, in 2005, with her husband Koorosh. She first heard the word “mead” in high school English class in about 1981 and has been obsessed with mead ever since; she's been an amateur meadmaker since 1997 and a licensed commercial meadery owner since 2009 Kookoolan World Meadery (approximately the 80th licensed American meadery). Kookoolan Farms meads have twice won medals at Mazer Cup International (2014 and 2015 silver medals). Chrissie was a founding director of the American Mead Makers Association, its first Legislative Committee Chair, and contributing editor and frequent contributor to the AMMA Journal, as well as to the new publication MeadMag.com. She is the author of “The Art of Mead Tasting and Food Pairing,” published 2017 and in consideration both for the Gourmand and James Beard cookbook awards. She is the Keynote Speaker and lead lecturer for the University of California/Davis Honey and Pollination Center's newest mead course, “Intermediate Mead Making: The Styles and Nuances of Mead,” February 2018. www.facebook.com/meadandfood Chrissie will be talking about pairing Mead and Food, both for home meadmakers and pros. Her presentation will be an overview of mead pairing strategies for more enjoyment of your meads at home; using your knowledge of food pairings to design better-selling meads; to sell more mead in the tasting room; and to sell more mead to restaurants. 1. “Impact” (body and intensity of the drink and the food should match): big meads with big food; delicate meads with light food 2. Treat traditional meads as white wines (examples and photos) 3. Treat sweet meads as dessert wines for cheese and dessert pairings (examples and photos) 4. Oak pairs with smoke 5. Pair semisweet to sweet meads with hot/spicy foods to cut the heat (examples and photos) ethnic pairings: basil metheglin with Italian; mango with Asian; rose with Middle Eastern; lime with Mexican, etc (examples and photos) 6. Look to places where mead has been at the table longest for food traditions and pairings. Poland, Ethiopia, Irish/Celtic, Scandinavian traditional foods pair particularly well (examples and photos) 7. Treat fruit meads like fruit wines, e.g. raspberry meads, cysers – examples and photos 8. Use your new expertise to design best-selling meads: understand what your customers want to drink every day 9. Use your new expertise to sell more mead in your tasting room: talking with customers about drinking your meads at home 9. Use your new expertise to sell more mead to restaurants: talking with chefs and sommeliers about how your meads complement their menu 10. Future of mead and food pairing This talk will feature photos from “The Art of Mead Tasting and Food Pairing,” and will (favorably) mention dozens of commercial meaderies by name. It will also feature several restaurant menus to talk about how to read a menu as a commercial meadery owner looking to sell mead to the restaurant. If you want us to tackle your mead making questions, you can send us a question and we'll tackle it online! Bring your questions and your mead, and let's talk mead! You can call us at 803-443-MEAD (6323), or Skype us at meadwench (please friend me first and say you're a listener, I get tons of Skype spam), or tweet to @gotmeadnow. This player will show the most recent show, and when we're live, will play the live feed. If you are calling in, please turn off the player sound, so we don't get feedback. Click here to see a playable list of all our episodes! Show links and notes Scott Labs Handbook White Labs Product Catalog New York Fermentation Fest Speed Brewing by Mary Izett Danny Acevedo - Modern Mead Making Videos American Homebrewers Association BJCP The Flavor Bible Let There Be Melomels by Rob Ratliff The Big Book of Mead Recipes by Rob Ratliff Upcoming Events February 13 - Superstition Meadery - Tasting and Music at the Wandering Tortoise February 14 - Mead and Cheesecake Pairing at Dahlia's Pour House March 13-15 - AMMA Mead Conference and Trade Show February 22 - Defend our Bees - Talk at Brothers Drake Meadery March 16-17 - Mazer Cup International March 31 - Day of the Juice Beer Festival April 21 - The Winemakers Shop Mead Competition Got an event you'd like us to mention on GotMead Live? Send us an email at gotmeadlive@gotmead.com and tell us about it!  

Today we’ll talk with Rachel Grezsler, research fellow in economics, budget and entitlements at the Heritage Foundation, on the 31st anniversary of President Reagan’s 1986 Tax Reform Act. We’ll also talk with Jeff Kinley, author of “The End of America? Bible Prophecy and a Country in Crisis” (Harvest House)See omnystudio.com/listener for privacy information.

In this episode, Bob and Carlos round out the discussion of the GOP's proposed tax reform. Bob reminds listeners of the material he covered in Parts 1 and 2, and then our dynamic duo discuss the real world implications of major tax reform. Carlos recalls what happened after the 1986 Tax Reform Act, and how it destroyed the real estate market.

In this week's Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, discusses a tax reform hearing about the use of dynamic scoring of the Tax Reform Act of 2014 and alerts listeners to Congress's August recess and retirement of former House Majority Leader Eric Cantor. In the low-income housing tax credit news, he discusses three new bills introduced last week that would affect affordable housing and provides an update on efforts to resume payments to the National Housing Trust Fund. In new markets tax credit news, he provides a more in-depth analysis of the Community Development Financial Institutions Fund's release of New Markets Tax Credit program data and shares the latest Qualified Equity Investment Issuance Report. In renewable energy tax credit news, he shares information about one Senator's effort to draw attention to the expired production tax credit and another's efforts to extend the investment tax credit to biogas projects. In historic tax credit news, he has an update on how the North Carolina historic tax credit program is faring in the state's budget process.

In this week's Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, alerts listeners to a House Subcommittee on Select Revenue Measures hearing on the Tax Reform Act of 2014 and dynamic scoring. In low-income housing tax credit news, he shares his analysis of the Council of Development Finance Agencies' report on the use of 2013 volume cap and discusses the results of an audit of the Delaware State Housing Authority's compliance with the low-income housing tax credit exchange program. In new markets tax credit news, he briefly discusses the Community Development Financial Institutions Fund's release of New Markets Tax Credit program data, provides an update on the 2014-2015 New Markets Tax Credit program Notice of Allocation Availability and shares information about legislation that would create a state-level new markets tax credit program in North Carolina. In renewable energy tax credit news, he has an update about a case that Alta Wind has brought against the federal government regarding the payment of Section 1603 grants in lieu of investment tax credits. In historic tax credit news, he has information about Pennsylvania's first round of historic tax credit awards.