Podcasts about tax talk

Enjoyed chatting with Kim and Shari owners of the Original Garden City Janitorial Service. And also Tax Talk with Joe Bartley from J&J Taxes and More.

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Note: This podcast episode was recorded Nov. 20, 2024, and since then, the U.S. House of Representatives races have been called, giving the Republicans 220 congressional members and the Democrats 215. This balance could change depending on potential special elections if some members of the House are appointed to positions within President-Elect Trump's administration. In this episode of the AICPA's Tax Section Odyssey podcast, Kasey Pittman, CPA, MST, Director of Tax Policy ­— Baker Tilly US LLP, discusses potential upcoming tax legislation for 2025, focusing on the complexities and challenges of extending the Tax Cuts and Jobs Act (TCJA) and other tax provisions.   What you'll learn from this episode: The potential complexities and challenges of extending provisions of the TCJA and other tax legislation. The implications of a unified government and the reconciliation process for passing tax legislation. The financial constraints posed by the national debt and the importance of managing the deficit. The influence of individual policymakers and the importance of state and local tax (SALT) deductions. Potential revenue raisers like tariffs and ending the employee retention credit early, and their impact on the overall tax legislation. AICPA resources Planning for tax changes — CPAs need to not only brace for tax law changes such as the TCJA and expiring provisions but also be proactive in planning for them. Tax advocacy — Advocacy is a core element of our purpose and value proposition. It is a strong mechanism for promoting trust and confidence in the CPA and CGMA credentials around the world.   Transcript April Walker: Hello, everyone, and welcome back to the AICPA's Tax Section Odyssey podcast, where we offer thought leadership on all things tax facing the profession. I'm April Walker, a lead manager from the tax section, and I'm here today with Kasey Pittman. Kasey is the director of Tax Policy with Baker Tilly's National Tax Office. Welcome, Kasey. Kasey Pittman: Thank you for having me. April Walker: I thought we'd spend a few minutes today setting expectations for tax legislation for 2025. First, a little bit of a spoiler, tax legislation is likely, right, but what it will actually entail is probably a lot more complicated than just a straight status quo extension of TCJA. Kasey, let's set the stage a little bit and talk about what we know about the makeup of the government and what that will mean for upcoming legislation. Kasey Pittman: I think going into the election, the vast majority of people assumed we were going to wind up in some divided government. We knew it was very likely that Republicans would capture the Senate. The math there was not very good for Democrats, just in terms of how many seats were up, and one of the Democratic-turned-independent retiring senators from a deep red state was almost a certainty to flip. I think the general thinking was that either Democrats would capture the White House or the House, and neither of those things came to fruition. We are sitting here in the 2024 election was a Republican sweep. We've done a lot of worrying about things that we can let go of, and I think probably we'll touch on that a little bit later in the podcast. But the margins aren't very big. Trump captured the White House actually by a good margin in terms of both electoral votes and total votes in the country. It looks like Senate Republicans will have the majority with a 53-47 split between Republicans and Democrats. The house is currently unknown. We know that the House has captured 218, and that's what you need for the majority. There's 435 seats. 218 is literally a one seat majority. There are five races outstanding, and probably threeish, maybe four of those are likely to go Republican. We're just waiting on final vote counts. In the House, we're looking at a few vote margin, in the Senate, we're looking at a few vote margin, and that can make legislating really difficult. One of the themes we touch on here as we go through is reconciliation. When you have a unified government, and a unified government is one where one party has both chambers in Congress, and the White House, which is what we're going into in 2025, there's this process that you can use for certain types of legislation, fiscal legislation called reconciliation. What reconciliation does is it allows you to overcome the filibuster in the Senate. You actually only need a simple majority, like 51 votes in the Senate to pass a bill, but anybody can hold up a bill with a filibuster, and you need 60 votes to end debate and force the vote on the floor. But this type of legislation doesn't require that, so we can move forward with a simple majority. However, there are a lot of limitations to the reconciliation process. Everything in a reconciliation bill has to be financial. It needs to deal with spending or revenues and it can't be incidentally related to those. That has to be its primary purpose. Tax provisions are perfect for this. It cannot increase the deficit outside of the budget window. The budget window is typically 10 years. Then inside that budget window, you can only increase or decrease the deficit by the amount in the reconciliation instructions. Reconciliation instructions are set again, by a simple majority on a budget resolution in the House and in the Senate. That number can be hard to define. We also can't touch Social Security, by the way, which is why you never see Social Security in a reconciliation bill. However, that number is really difficult to come to an agreement on sometimes, and I predict that we're going to face some issues just in getting to that budget reconciliation number before we even start to put together the bill. April Walker: That's a great summary, and we used reconciliation before to actually pass TCJA and some other legislation in the past few years, but it's still not how I grew up learning how law was passed. It's a little bit interesting and that's a great summary. Kasey, I led with saying, we don't think it's going to be a straight extension of TCJA and some of the other proposals that have been thrown out throughout campaigns. Talk through a little bit about specific provisions, what they're scoring out at, why they may or may not be included in this legislation. Again, I don't think we have to say this. This is all just speculation on our part. We will have to see what we will see once it turns to 2025. Kasey Pittman: Some of it is really speculative. We're guessing, they are educated guesses based on history and based on what influential policymakers are telling us. For many months, Republicans have really optimistically been planning for reconciliation, hoping to capture both chambers, hoping that Trump would be in the White House. They've been planning. Honestly, there's been a ton of organization inside the House Ways and Means Committee around it. What I said just a minute ago was that I think we're going to have trouble getting to that number, and here's why. If we want a blanket 10-year extension of the Tax Cuts and Jobs Act, all these taxpayer-favorable provisions, they're mostly taxpayer-favorable and we'll get into that in a second too. It's going to cost $4.6 trillion. Just for benchmarking for everybody, our national debt, which is the sum accumulation of all the deficits we've ever run right now is $35 trillion. That's really impactful because each year, honestly, I believe since Clinton, we've run at a deficit and some of the Clinton years too. But each year, since I was in middle school, we've run at a deficit, which means we're spending more money than we're bringing in, and part of the reason we're spending more money than we're bringing in is because we have to pay interest on all this debt. It's really come to a head over the last couple of years for two reasons. One, our debt skyrocketed. Recently, TCJA added to it. COVID certainly didn't help it at all. Then additionally, because we've had such high inflation, the Fed has increased interest rates and that's the rate that we pay to service the debt. In FY 24, which ended at the end of September. This year, we paid over a trillion dollars just to service our debt, not paying down our debt, just paying the interest on our debt. That's more than we spent on defense spending for the entire year. It becomes a liability if our debt is too large. Particularly, we like to compare it to our GDP. This year we ran a $1.8 trillion deficit. Over a trillion of that we could say is attributable to interest costs. Anyway, here we are. We've got $4.6 trillion to extend the TCJA. Then we've got a whole host of other campaign proposals that Trump made on the trail. No SALT, and we'll get to SALT in a second. No SALT, no tax on tips, no tax on overtime, no tax on Social Security benefits. There's family caregivers credit for home caregivers. There's just a number of things, and some of them are hard to score because there's not a lot of details around the policy yet. They're more on the idea than the actual detailed policy phase at this point but those are a lot and estimates are 8-10 trillion with the Tax Cuts and Jobs Act plus all of the other campaign promises, and that is just wild as compared to our current national debt and the fiscal responsibility that I think a lot of policymakers and Americans really are focused on. Do I think that Senate Republicans and House Republicans are going to come together and say, let's write a $10 trillion bill that's not paid for at all, that increases the deficit? No, I don't. We still have deficit hawks in the Republican Party, we have people who are really concerned about it and for good reason. That's going to be a struggle. I want to say SALT is really important here. Republicans are fairly united in the general extension of Tax Cuts and Jobs Act. There's a lot of campaigning this cycle on it. It's been a priority where we're fairly unified. However, that's not where it ends. We're looking again at these small margins in the House and the small margins in the Senate. When we have that, we have individual policymakers who have a lot of influence. We saw that in 2021- 2022, when Democrats had a big bill and they said, Hey, this is our wish list, and Joe Manchin and Kristen Sinema, who are Democrats, turned independents in the Senate, said, Oh gosh, no, thank you, that's way too big. Here's what we can do. We'll do the Inflation Reduction Act, which was a fraction and a little bit of a different direction on some than the original Democratic priorities. That's what we passed, because again, these two policymakers were able to exert a ton of influence. Then we saw it in 2023, when I think it was a total of eight house members ousted their speaker, which was the historic moment for Republicans in the House, what we see is a lot of power when we have those small vote margins. In the House, there's a really strong caucus for repeal of the state and local income tax, a limitation of $10,000. It's bipartisan. But there are a number of Republicans on there, particularly from high tax states, from traditionally blue states, New York, California, Connecticut, New Jersey. There's dozens of them, really, and they've won re election to the House and they've campaigned on this, and this is going to be a priority for them. I think it's really impractical to think we're going to see a tax bill that doesn't have SALT attached to it because this is a pretty strong caucus. Again, the margins are small, and to fully repeal SALT for 10 years is another $1.2 trillion. Now I'm at $6 trillion April, and that's before the overtime and before the Social Security, which is already system in peril in terms of being able to fund it. It's not quite that simple, and we do have deficit hawks. When we saw Tax Cuts and Jobs Act originally come through in 2017, we used the reconciliation process, Republicans did, and then Democrats used it in 2022 to pass the Inflation Reduction Act. There were many Republicans who wanted much more than TCJA cost. TCJA eventually they came to an agreement, and they said, We can do $1.5 trillion. 1.5 trillion is what we can sign on for. We can get everybody on board for that. That's what the budget instruction said. You can write a bill that increases the deficit by 1.5 trillion dollar over 10 years and so they did that. But it's not quite that simple. People say, $1.5 trillion, it wasn't 1.5 trillion dollar in tax cuts. It was $5.5 trillion in tax cuts with four trillion dollar in revenue raisers, some of them were pretty simple.  I replaced these itemized deductions with the standard deductions, they kinda offset, but there were some provisions in there that were just revenue raisers and one of them is 163(j), the business interest limitation. Then additionally, we couldn't see them all through the entire budget window and still hit that mark. When I originally described it literally in 2017, 2018, when I was talking about it, I would say. Hey, look, we've got all these dials, and at the top, we've got this big number, and this is what we've added up to. We want to turn this dial up, but that costs too much money, and that puts us over, so maybe we dial it down on the number of years or maybe we add this revenue raiser. We're trying to back into this $1.5 trillion number, and that's part of the reason we saw some of these changes that transitioned under TCJA. We're seeing right now the bonus depreciation number come down. We've seen a change in how we calculate ATI for that business interest limitation, and we've changed how we deduct research and experimental expenditures. Honestly, they just couldn't make it all the way through that budget window at that number. Just a quick note on those things that have already changed, we saw a bipartisan bill sail through the House, sail through 83% vote margin, 357-70, I want to say on January 31 this year, and it died in the Senate. Senate Finance Committee Leader Ranking member, Mike Crapo, said, No, thank you. [He was] really confident that he was going to have a majority in the Senate in 2025 and he does, and he now also is able to have a Republican House to work with. One of the questions I get a lot is, do I think that we're going to see that bill be taken up in the lame duck session? My answer is no, I do not. I don't see what the incentive is for Republicans to make the concessions in there with Democrats around the refundability of child tax credit because they've got different methodologies on that. I don't see an incentive for them when they know they're going to run the table next year. April Walker: One thing I know you and I have talked about before, there's in evaluating “pay fors” and revenue raisers, there's the ERC provisions that are in that legislation that you're talking about in the past. I guess that's still potentially on the table ending ERC in January, that's potentially out there. What about tariffs? Tariffs have been suggested as a revenue raiser. How does that work with reconciliation? Kasey Pittman: There are a couple of revenue raisers that have been widely talked about, and I think there's a lot of bipartisan agreement around ending the employee retention credit early, and that's scored, if they use it from the old bill, that's scored around $77 billion. But you have to think that's drop in the bucket when we're talking about $6 trillion, $8 trillion, $10 trillion dollars. But it helps - every bit helps, obviously right?  And then there's another one that's clawing back a lot of the IRA provisions, some of those clean energy provisions and semi recently, I think last weekend, President Elect Trump said,"Hey, I'm going to take away this $7,500 EV credit. We're not doing that anymore once I'm president." That's one item, but there are a lot of energy provisions outside of just that. That's the one that I think most individuals know about, but there are a lot of energy provisions outside of that. How they dismantle that is going to be really interesting to me, because there are some proponents who just say kill it all. This is not where our priorities are. There are others and there was a letter, I want to say to Speaker Johnson in the summer, that came from a number of House Republicans, a dozen or so that said, Hey, these are really beneficial in my district. I really hope that we and the language we've heard a lot of here is take a scalpel and not a sledgehammer. That's the talking point, scalpel and not a sledgehammer, to clawing back some of these provisions. I do expect some exploration of clawing back those provisions, and then tariffs. President Trump has talked a lot about tariffs and we've heard a number of things between 10 and 20% across the board tariff rate for anything coming into the country, about 60% on China. I believe we've heard 100% on cars coming from Mexico. What we don't know is and I've gotten a ton of questions on this, honestly. What we don't know is how serious he is about those. Is it an idea? Is it something that he intends to use as a bargaining chip in trade negotiations? Is it something that's going to be applied potentially in a more specific niche, these particular areas? That's what we saw in his first presidency was that it was particular items coming in. We saw it on aluminum, we saw it on steel. Or is it going to really be, does he intend to do it across the board? The thing is that presidents do not have completely unfettered power here, but they have the ability to enact certain tariffs without the consent of Congress. That being said, unless they find a way to write that into the reconciliation bill, they can't use the money they believe they'll generate from the tariffs as an offset to try to get back into that number. Because again, TCJA, $5.5 trillion in cuts, $4 trillion in revenue, if we want to include that in revenue, it's going to have to be present in the bill in some fashion. What I have been reading and researching a little bit, does it have to be explicit or does it have prescriptive or does it have to authorize him to move in that area? I'm still doing a little research there. But anyway, it would have to be in the bill in order to be included in the revenue scoring. April Walker: Lots of items to think about as we're rapidly going towards the end of the year and our listeners are [a  lot of] tax partitioners talking to clients. I think another top question I'm sure you've been getting is, what are we thinking about timing? When is this going to happen? When is legislation going to happen? Because we really think it's going to happen, they're not going to let TCJA expire at the end at 12/31/25. But what are we thinking? Kasey Pittman: Speaker Johnson has been very bullish on this and saying he would like a bill coming out of the house, not necessarily enacted, but out of the house in the first 100 days of Trump's presidency. Just if we're going from inauguration day of January 20th, that date would be April 30th. That is a really ambitious goal. There's a number, it's ambitious in ideal scenarios. There's a ton of other priorities as well, including government funding, which as of this moment, is not done, and we don't know if it'll be a continuing resolution or if they'll fund the government through the end of the year.  But there are a lot of priorities for this Congress, and one of them is the confirmation of all of President Trump's picks for various administration positions, which is going to complicate this. Because right now, the House Republicans have the generally accepted number is 218 seats. There are five seats outstanding. They could wind up with a total of 223. That's probably more like 221, 222, maybe 220, but probably 221, 222 (See note above for the final results). There are three people from the House that President Trump has nominated. They're leaving their seats, assuming they get this job, Matt Gaetz has already left his seat, and that's going to complicate matters. It's not an easy swap. Speaker Johnson will be working with a very tight majority, like a very razor thin majority in the House until all of that is sorted out, and you've got new policymakers in seat. That's going to complicate things as well, and it's going to be difficult to get to that number. Again, I think that there are a lot of different, even within the Republican Party, even though they believe in the TCJA. They believe it was stimulating. They think that they should extend it. Deficit funding for a large number is going to be really difficult. First, we're going to have to come to that number, and that is going to be a negotiation in and of itself. It's not going to be $10 trillion. It's not going to be, hey, we get everything we want for 10 years. In addition, then they have to figure out how to work with that number. Let's say $2 trillion, I'm just going to throw that out there, $2 trillion, $3 trillion, whatever they've decided on. You can increase the deficit over the budget window by $2 trillion dollars, $3 trillion dollars. I've got 10 years. In my budget window, what am I going to do with it? I could try to find a ton of revenue raisers, and I think it's honestly going to be a mix of these things. I could try to find a ton of revenue raisers. I could try to reduce government spending. I could not put everything in place for 10 years. We could see a bill that comes out for four years. Even though the budget window could be larger, they could say, hey, they're all going to expire after four years because that's how we can get most of our priorities in, and then we're going to kick this can down the road. When they crafted TCJA, it was very intentional. The portion that they made permanent was the corporate rate, there's a much longer planning runway for large corporations and businesses than there are for individuals, typically.That was smart. In addition, the things that are expiring are the things that are popular with voters, lower rates, increased child tax credit. It puts political pressure on the extension of these items. They could do that again because the items we're talking about are by and large, popular with voters. Nobody's looking, nobody raises their hand and says, I'd really love you to increase my tax rate. Personally, thank you so much. I'd like my bill to go up every year. Now, many taxpayers are okay with it and they believe in the methodology of a graduated system, but nobody's personally asking for an income tax increase that I've seen anyway in my practice. They're popular, they could kick it down the road and put pressure on the 2028 election, if they only do it for four years. I'd be interested to see what happens. They could also only enact them partially or phase them out or make other changes. There's a lot to figure out. There are a lot of dueling priorities and there's a lot of money at stake. April Walker: Lots to think about as we move into 2025, but I so appreciate your sitting down with us today, Kasey, and thinking through the scenarios. Very helpful for me. In closing, as we wrap up this podcast, I like to take a little bit of a left turn and think about, hey, we're together, we're taking a journey together towards a better profession in doing that, I like to get a glimpse of my guest other journeys outside of the world of tax. Kasey, tell me about a trip you have planned or a bucket list item you've got on the agenda. Kasey Pittman: Actually, we took our kids out of the country for the first time this summer, and we had a little bit of a larger trip planned and it got delayed because of a couple of years, mostly because of COVID, honestly. It was wonderful. We went to Germany and Austria and London, and we were hoping to add France on there too, but we couldn't because it was the Olympics and it was bananas getting into France. It was absolutely bananas. We are hoping to go, not next summer, but maybe the following summer go back and bring the kids to France. I enjoy traveling a lot, but I think it's so cool to see it through their eyes, too. I think it's really neat because the world. April Walker: I love to do that, too. Traveling is definitely I didn't do it a ton as a kid, and so I try to do it and get my daughter on the road as much as possible. Kasey Pittman: But in the short term, April, I'm going to come down your way. Let's see. I want to say it's the first Sunday of December to watch because on Monday, it is the Women's NCAA soccer championship, which will be very exciting. It'll be our third year and it's in Cary. Unfortunately, the next three years, I think, after that are in California, and we're not going to make that trip. It's probably our last year. April Walker:  Yes, you're always welcome to come down to a lovely North Carolina. Hopefully the weather will cooperate. Kasey Pittman: Fingers crossed. April Walker: Thanks again so much, Kasey. Again, this is April Walker from the AICPA Tax Section. This community is your go to source for technical guidance and resources design, especially for CPA tax practitioners like you in mind. This is a podcast from AICPA and CIMA together as the Association of International Certified Professional Accountants. You can find us wherever you listen to your podcast and we encourage you to follow us so you don't miss an episode. If you already follow us, thank you so much. Please feel free to share with a like minded friend. You can also find us at aicpa-cima.com/tax and find our other episodes and get access to any resources we mentioned during this episode. Thank you so much for listening and wishing everyone a happy upcoming holiday season. Keep your finger on the pulse of the dynamic and evolving tax landscape with insights from tax thought leaders in the AICPA Tax Section. The Tax Section Odyssey podcast includes a digest of tax developments, trending issues and practice management tips that you need to be aware of to elevate your professional development and your firm practices. This resource is part of the robust tax resource library available from the AICPA Tax Section. The Tax Section is your go-to home base for staying up to date on the latest tax developments and providing the edge you need for upskilling your professional development. If you're not already a member, consider joining this prestigious community of your tax peers. You'll get free CPE, access to rich technical content such as our Annual Tax Compliance Kit, a weekly member newsletter and a digital subscription to The Tax Adviser.

In this episode, panelists discuss the latest global tax developments and issues to consider by year-end.

A few months ago, the European Commission published the first draft of the ‘debt-equity bias reduction allowance' directive (DEBRA), which is designed to encourage greater equity funding and discourage excessive debt funding. In our latest Tax Talk, our Global Tax team discuss the impact the directive could have on businesses, key considerations and the potential impact of DEBRA from a European perspective.

In our latest Tax Talk, Global tax team provides an update on both Pillars I and II and BEPS, and provides examples of practical approaches to preparing for and managing a tax audit, including US and European considerations. In addition, this program includes an overview of transfer pricing audit trends in the US and Europe, lessons learned, as well as a discussion on alternative dispute resolution mechanisms.

Herausforderungen bei der Lohnsteuer, Betriebsstätten, dem Konzernsteuerrecht und bei Verrechnungspreisen

In this episode, panelists discuss anti-hybrid mismatch provisions and perspectives from across the world. 

Adam and Chris are joined by Katy Balls, Political Editor of the Spectator, and Patrick Maguire, The Times' Columnist, to discuss all the political news of the week.They discuss the government's much-previewed package on workers' rights, hints about what may be in the Chancellor's first budget later this month, and relive the drama of the Tory leadership race narrowing to the final two. You can now listen to Newscast on a smart speaker. If you want to listen, just say "Ask BBC Sounds to play Newscast”. It works on most smart speakers.You can join our Newscast online community here: https://tinyurl.com/newscastcommunityhereNewscast brings you daily analysis of the latest political news stories from the BBC. It was presented by Adam Fleming. It was made by Jack Maclaren with Miranda Slade. The technical producer was Mike Regaard. The assistant editor is Chris Gray. The editor is Sam Bonham.

Forget the stress and anxiety—taxes don't have to be scary. Joining us, in this episode of our Orthofinance series, is Sugey Piedra as we discuss how to approach taxes with confidence, save money, and even uncover opportunities you never knew existed.  As an enrolled agent and 20+ year certified tax preparer, Sugey Piedra likes to make her clients' money work for them so that they don't have to work forever.  In her daily work as co-founder of Prominence Business & Wealth Management,  Sugey supports high-earning, service-based business owners achieve long-term wealth through a holistic approach to financial services, providing bookkeeping, tax preparation, financial planning and tax strategy under one roof.  Together with her two sisters/co-founders, Sugey runs the business, and also hosts and produces Tax Talk with HeyHey Podcast, where they provide insights into business taxes, wealth building and what it means to really create financial freedom. Besides her own show, Sugey has also been featured on Sell Without Selling. When she's not helping service-based business owners to grow their income, Sugey enjoys traveling, horseback riding and working on her own growth mindset.  In this episode, Sugey shares insights into tax savings strategies as she answers questions like: What's the mindset we should have when it comes to taxes? What's the difference between a tax strategist and one who prepares your taxes? What does it cost to hire a tax strategist? and many more. This episode is sponsored by the American Academy of Orthopaedic Surgeons: Filled with content that has been vetted by some of the top names in orthopaedics, the AAOS Resident Orthopaedic Core Knowledge (ROCK) program sets the standard for orthopaedic education. Whether ROCK is incorporated into your residency curriculum, or you use it independently as a study tool, the educational content on ROCK is always free to residents. You'll gain the insights and confidence needed to ensure a successful future as a board-certified surgeon who delivers the best patient care. Log on at https://rock.aaos.org/. 

Hey there, and welcome to another episode of The Tax Talk, the podcast where we simplify all things tax and payroll. Whether you're just getting started with your employment or running your own business, we've got you covered. Today, we're diving into a topic that confuses many: finding your PAYE reference number. Now, whether you're an employee or an employer, the PAYE reference number is something you're bound to come across. But what is it, why is it important, and most crucially, how can you find it? We're about to break it all down for you, step by step. Section 1: What Is a PAYE Reference Number? Before we jump into where you can find your PAYE reference number, let's start with the basics. The PAYE reference number is a code given to an employer by HMRC (Her Majesty's Revenue and Customs) when they register as an employer. PAYE stands for "Pay As You Earn," which is the system used by HMRC to collect income tax and National Insurance from employees directly via payroll. The PAYE reference number is crucial because it helps HMRC identify your employer and manage the income tax and National Insurance records for each employee. If you're an employee, this number will be attached to your pay, and it's especially important when you're dealing with tax returns, applying for loans or mortgages, or even when switching jobs. For employers, it's vital for submitting payroll information, calculating deductions, and communicating with HMRC. Section 2: Why Do You Need Your PAYE Reference Number? So, why is this number so important? As an employee, you might need your PAYE reference number for a variety of reasons: Filing Tax Returns: Whether you're completing a self-assessment or need to check your tax records, your PAYE reference will be required. Loan Applications: Banks or lenders may request this number to verify your employment or income. Tax Queries: If you ever need to contact HMRC to discuss your tax code, adjustments, or any issues with tax deductions, your PAYE reference will likely be asked for. Changing Jobs: When switching employers, your new employer will often use this reference number to ensure your tax records are properly transferred. If you're an employer, you'll need your PAYE reference number for: Submitting Real Time Information (RTI) reports to HMRC. Issuing P60 and P45 forms. Ensuring the correct tax codes are applied for your employees. So, it's safe to say, this little number has big importance! Section 3: How to Find Your PAYE Reference Number (For Employees) Now, let's get to the big question. How do you find this mysterious PAYE reference number if you're an employee? There are several places where you can locate it: Your Payslip: One of the easiest places to check is your payslip. Your employer usually includes the PAYE reference number somewhere on the slip, usually near the payroll number. Your P60 or P45 Form: If you've ever received a P60 (the form that summarizes your pay and tax deductions for the year) or a P45 (the form given when you leave a job), you'll find the PAYE reference number listed here. The P60 is issued at the end of every tax year, so keep this form handy! Section 4: Finding the PAYE Reference Number as an Employer Now, if you're an employer, and you've just registered your business with HMRC, you'll be assigned a PAYE reference number for your payroll scheme. Here's where to look for it: HMRC Registration Documents: When you first register as an employer with HMRC, they send you an Employer's PAYE letter. Section 5: What Does the PAYE Reference Number Look Like? The PAYE reference is usually made up of two parts. The first part is a three-digit code that identifies the tax office that manages your employer's payroll. The second part is a unique reference number for your employer, often separated by a slash. For example, it might look like this: 123/AB45678. Why not read our helpful Article on our FD Capital website.

On this episode of the Dentist Money Show, Morgan Hamon, CPA and President of HDA Accounting Group joins Ryan to discuss different leadership styles and valuable advice to help lead your team with confidence. Morgan and Ryan also dive into the financial side of running a dental practice, exploring the importance of maintaining clear boundaries between personal and business finances and fostering open communication with your CPA. They dispel common myths about taxes, discussing why taxes don't actually break dentists and the importance of tax planning to alleviate the emotional burden around tax season. Book a free consultation with a CFP® advisor who only works with dentists. Get an objective financial assessment and learn how Dentist Advisors can help you live your rich life.

Adam and Steve discuss potential new tax laws, the housing market, and the recent debate in this episode. 

Tax planning is usually not top of mind until it's spring and the deadline to file is around the corner. However, there are multiple considerations to be aware of this year, prompting the need for more proactive planning. In this episode of Your Active Wealth, Jere Doyle, Senior Wealth Strategist at BNY Wealth, reveals why taxpayers need to have earlier conversations with their advisors when evaluating potential strategies to protect their wealth. Throughout the discussion, he touches on timely tax provisions to take advantage of before they expire, such as the estate and gift tax exemption from the 2017 Tax Cuts and Jobs Act, and sheds light on the Corporate Transparency Act, which went into effect earlier this year, highlighting important reporting requirements and reminders. For additional insights on the subjects that matter most to you, visit bnymellonwealth.com. Follow us on: Twitter | LinkedIn | Instagram

THE BEST BITS IN A SILLIER PACKAGE (from Wednesday's Mike Hosking Breakfast) We Want Nice Things Though.../The Train that Never Came/Does It Really Matter What You're Called?/Another Look at G-Strings/Russell ConfusionSee omnystudio.com/listener for privacy information.

This week's guest is Sugey Piedra, an enrolled agent at Prominence Business and Wealth Management and host of the Tax Talk with Hey Hey podcast. Sugey shares her passion for smoking cigars while traveling, revealing how it has allowed her to meet fascinating people worldwide. She talks about her childhood restrictions that ignited her love for travel and her many adventures, including trips to Africa and Puerto Rico. Sugey emphasizes the importance of connecting personally with clients, which has improved her relationships and her business. She also discusses designing her office with personal photos to create a welcoming environment. Lastly, Sugey touches on her evolving perspectives on travel and encourages maintaining the human connection in professional settings.   Episode Highlights · Sugey emphasizes the importance of connecting on a personal level with clients to build better relationships and trust · She highlights the significance of showcasing one's personal side through things like personal photos in the office to create a welcoming environment for clients · There is a need to change the perception that professionals, such as accountants, are boring and grumpy by showcasing their diverse personalities and interests · Sugey shares her love for traveling, exploring new places, and meeting new people, often through visiting cigar lounges · Focusing on the human connection as much as professional aspects

In this episode, panelists discuss regional and local-country tax implications of post-merger integrations carried out by US multinational entities.

For more than 20 years, Sugey Piedra has been working in the tax preparation and wealth management industry. She and her two sisters co-founded Prominence Business & Wealth Management, and together they have helped hundreds of high-earning service-based business owners to grow and scale their businesses with holistic financial planning. Her signature program Business Elite is a 12 month Tax Prep, Planning, and Strategy Program for Service-Based Business Owners. And she also is the host of the Tax Talk with HeyHey where she shares her knowledge and expertise around removing the mystery surrounding taxes, financial planning, and wealth accumulation techniques and strategies. When she's not helping others with their business finances and talking shop on her podcast, Sugey is also spending time with her other Shmillie's in Rachel Rodgers' Hello7 Mastermind. https://www.prominencebusiness.com/https://www.instagram.com/prominence....https://www.linkedin.com/in/sugey-pie...

Jason and Amanda, a certified public accountant and author, discussed the potential negative impact of the 2024 budget proposal on real estate investors, the benefits of cost segregation for tax reduction, and the advantages of being a real estate professional. They also highlighted the importance of tax planning, the depreciation schedule for breast implants, and the potential for cost segregation. Lastly, they cautioned against tax misconceptions and encouraged listeners to consult with their CPAs for maximum tax benefits.  https://www.jasonhartman.com/costseg/  https://www.keystonecpa.com/ #RealEstateTaxSavings #CostSegregationHack #AccelerateDepreciation #RentalPropertyTaxTip #TaxProTip #RealEstateInvesting #TaxSavings #MortgageFree #LinearMarkets #InvestmentStrategy #FinancialAdvice #WealthBuilding #PropertyOwnership #MarketAnalysis #EconomicInsights #AssetAllocation #smartinvesting     Follow Jason on TWITTER, INSTAGRAM & LINKEDIN Twitter.com/JasonHartmanROI Instagram.com/jasonhartman1/ Linkedin.com/in/jasonhartmaninvestor/ Call our Investment Counselors at: 1-800-HARTMAN (US) or visit: https://www.jasonhartman.com/ Free Class:  Easily get up to $250,000 in funding for real estate, business or anything else: http://JasonHartman.com/Fund CYA Protect Your Assets, Save Taxes & Estate Planning: http://JasonHartman.com/Protect Get wholesale real estate deals for investment or build a great business – Free Course: https://www.jasonhartman.com/deals Special Offer from Ron LeGrand: https://JasonHartman.com/Ron Free Mini-Book on Pandemic Investing: https://www.PandemicInvesting.com  

Jason and Amanda, a certified public accountant and author, discussed the potential negative impact of the 2024 budget proposal on real estate investors, the benefits of cost segregation for tax reduction, and the advantages of being a real estate professional. They also highlighted the importance of tax planning, the depreciation schedule for breast implants, and the potential for cost segregation. Lastly, they cautioned against tax misconceptions and encouraged listeners to consult with their CPAs for maximum tax benefits.  https://www.jasonhartman.com/costseg/  https://www.keystonecpa.com/ #RealEstateTaxSavings #CostSegregationHack #AccelerateDepreciation #RentalPropertyTaxTip #TaxProTip #RealEstateInvesting #TaxSavings #MortgageFree #LinearMarkets #InvestmentStrategy #FinancialAdvice #WealthBuilding #PropertyOwnership #MarketAnalysis #EconomicInsights #AssetAllocation #smartinvesting   Follow Jason on TWITTER, INSTAGRAM & LINKEDIN Twitter.com/JasonHartmanROI Instagram.com/jasonhartman1/ Linkedin.com/in/jasonhartmaninvestor/ Call our Investment Counselors at: 1-800-HARTMAN (US) or visit: https://www.jasonhartman.com/ Free Class:  Easily get up to $250,000 in funding for real estate, business or anything else: http://JasonHartman.com/Fund CYA Protect Your Assets, Save Taxes & Estate Planning: http://JasonHartman.com/Protect Get wholesale real estate deals for investment or build a great business – Free Course: https://www.jasonhartman.com/deals Special Offer from Ron LeGrand: https://JasonHartman.com/Ron Free Mini-Book on Pandemic Investing: https://www.PandemicInvesting.com  

On this Episode of Business by the Numbers, Hunt reflects on his time at the STX conference in Nashville, sharing stories about the connections made and lessons learned from industry experts.• Economic News Breakdown: We get into the latest economic updates that dropped last Wednesday. Hunt breaks down what these changes in numbers might mean for your wallet and business this year, especially when it comes to interest rates.• Tax Talk and Government Spending: Hunt explains the proposed wealth tax and what the latest federal budget might mean for us. There's a lot of talk about balancing the budget without raising taxes too much, and we'll explore what that could look like.• Capital Gains and Your Money: We take a closer look at potential hikes in capital gains taxes and how these could affect your investments and long-term financial planning.• Understanding the Numbers: Inflation, GDP... these terms get thrown around a lot. We'll unpack what they really mean for the economy and for us as workers and business owners.Thanks to our partners, NAPA TRACS and PromotiveDid you know that NAPA TRACS has onsite training plus six days a week support?It all starts when a local representative meets with you to learn about your business and how you run it. After all, it's your shop, so it's your choice.Let us prove to you that Tracs is the single best shop management system in the business. Find NAPA TRACS on the Web at NAPATRACS.comIt's time to hire a superstar for your business; what a grind you have in front of you. Great news, you don't have to go it alone. Introducing Promotive, a full-service staffing solution for your shop. Promotive has over 40 years of recruiting and automotive experience. If you need qualified technicians and service advisors and want to offload the heavy lifting, visit www.gopromotive.com.Paar Melis and Associates – Accountants Specializing in Automotive RepairVisit us Online: www.paarmelis.comEmail Hunt: podcast@paarmelis.comGet a copy of my Book: Download HereAftermarket Radio Network

On this Episode of Business by the Numbers, Hunt reflects on his time at the STX conference in Nashville, sharing stories about the connections made and lessons learned from industry experts.• Economic News Breakdown: We get into the latest economic updates that dropped last Wednesday. Hunt breaks down what these changes in numbers might mean for your wallet and business this year, especially when it comes to interest rates.• Tax Talk and Government Spending: Hunt explains the proposed wealth tax and what the latest federal budget might mean for us. There's a lot of talk about balancing the budget without raising taxes too much, and we'll explore what that could look like.• Capital Gains and Your Money: We take a closer look at potential hikes in capital gains taxes and how these could affect your investments and long-term financial planning.• Understanding the Numbers: Inflation, GDP... these terms get thrown around a lot. We'll unpack what they really mean for the economy and for us as workers and business owners.Thanks to our partners, NAPA TRACS and PromotiveDid you know that NAPA TRACS has onsite training plus six days a week support?It all starts when a local representative meets with you to learn about your business and how you run it. After all, it's your shop, so it's your choice.Let us prove to you that Tracs is the single best shop management system in the business. Find NAPA TRACS on the Web at NAPATRACS.comIt's time to hire a superstar for your business; what a grind you have in front of you. Great news, you don't have to go it alone. Introducing Promotive, a full-service staffing solution for your shop. Promotive has over 40 years of recruiting and automotive experience. If you need qualified technicians and service advisors and want to offload the heavy lifting, visit www.gopromotive.com.Paar Melis and Associates – Accountants Specializing in Automotive RepairVisit us Online: www.paarmelis.comEmail Hunt: podcast@paarmelis.comGet a copy of my Book: Download HereAftermarket Radio Network

Today's episode is all about empowerment through financial literacy, featuring our special guest Sugey Piedra from Prominence Business Management. Sugey shares how she grew up as a first-generation Mexican American, helping her parents navigate life in a new country, and how a chance paperwork mixup on their taxes completely changed the trajectory of her future.  Key Takeaways The Power of Financial Education: Sugey emphasizes the importance of financial education in empowering individuals to make informed decisions about their money. Overcoming Limiting Beliefs:  We highlight the role of mindset in achieving financial success as we often have limiting beliefs around money and self-worth that can directly impact our goals. Taking Control of Your Finances: Understanding your numbers and actively managing your finances is crucial for business owners and individuals alike. The Impact of Tax Planning: Sugey discusses the significance of tax planning in financial management, helping clients proactively navigate tax liabilities and maximize savings. Building Financial Confidence: Through proper financial planning and self-care, Sugey encourages Bombshells to build financial confidence and take charge of their financial futures. To unlock your full potential and achieve financial freedom, remember to prioritize financial education! Get started now and tune in on your favorite listening app, on the website, or watch it on YouTube! Links & Mentioned Resources Tax Talk with Hey Hey Podcast Sugey's Newsletter 15 Minute Discovery Call Rich Dad Poor Dad We Should All be Millionaires About Sugey Piedra As an enrolled agent and 20+ year certified tax preparer, Sugey Piedra likes to make her clients' money work for them so that they don't have to work forever. She supports high-earning, service-based business owners who achieve long-term wealth through a holistic approach to financial services, providing bookkeeping, tax preparation, financial planning and tax strategy under one roof. She also hosts and produces Tax Talk with HeyHey Podcast. Connect with Sugey LinkedIn: www.linkedin.com/in/sugey-piedra-ea-39aba911a/ Website: www.prominencebusiness.com/ Instagram: www.instagram.com/prominence.services Facebook: www.facebook.com/ProminenceBMgmt Learn more about your ad choices. Visit megaphone.fm/adchoices

2023 Tax season may be over, but it's never too early to start planning for next year. Join us as we break down essential changes for 2024 that may impact your 2025 tax filing. 

Jason discusses saving on taxes with returning guest CPA Amanda Han. He emphasizes the significance of taxes as life's largest expense and the benefits of real estate investment for tax savings. Jason highlights the record number of mortgage-free homeowners in the US, attributing the slight decline to increased investor interest in leveraging investments. Using an interactive map, he illustrates regional variations in mortgage-free homeownership, noting higher percentages in linear markets. Hartman advises prudent investment in linear and hybrid markets for lower downside risk and better long-term returns. Then Jason and Amanda, a certified public accountant and author, discussed the potential negative impact of the 2024 budget proposal on real estate investors, the benefits of cost segregation for tax reduction, and the advantages of being a real estate professional. They also highlighted the importance of tax planning, the depreciation schedule for breast implants, and the potential for cost segregation. Lastly, they cautioned against tax misconceptions and encouraged listeners to consult with their CPAs for maximum tax benefits. https://www.jasonhartman.com/costseg/ https://www.keystonecpa.com/ #RealEstateTaxSavings #CostSegregationHack #AccelerateDepreciation #RentalPropertyTaxTip #TaxProTip #RealEstateInvesting #TaxSavings #MortgageFree #LinearMarkets #InvestmentStrategy #FinancialAdvice #WealthBuilding #PropertyOwnership #MarketAnalysis #EconomicInsights #AssetAllocation #SmartInvesting   Key Takeaways: Jason's editorial 1:29 Life's greatest expense 2:17 Free and clear houses 3:18 Economic cushion 5:50 Mortgage-free owners; interactive map Amanda Han interview 11:14 Welcome Amanda Han 11:57 Taxes- the silent wealth killer 14:52 Cost segregation and other tax write offs 20:17 Who can and should use it 24:19 A few misconceptions of cost seg 26:09 Being a RE professional 29:47 Going to ZERO tax 31:43 More benefits  37:25 Take time to plan   Follow Jason on TWITTER, INSTAGRAM & LINKEDIN Twitter.com/JasonHartmanROI Instagram.com/jasonhartman1/ Linkedin.com/in/jasonhartmaninvestor/ Call our Investment Counselors at: 1-800-HARTMAN (US) or visit: https://www.jasonhartman.com/ Free Class:  Easily get up to $250,000 in funding for real estate, business or anything else: http://JasonHartman.com/Fund CYA Protect Your Assets, Save Taxes & Estate Planning: http://JasonHartman.com/Protect Get wholesale real estate deals for investment or build a great business – Free Course: https://www.jasonhartman.com/deals Special Offer from Ron LeGrand: https://JasonHartman.com/Ron Free Mini-Book on Pandemic Investing: https://www.PandemicInvesting.com  

CBIZ Managing Director, Shaun McClung, chats on importance of a proactive tax strategy--for both businesses and individuals. In this episode, the veteran CPA walks us through everything from tax incentives, upcoming tax legislation and sunsetting tax credits.

The deadline to file your taxes is April 15th, and with it being around the corner; we invite local experts to answer your questions.

In this week's episode of The Venue RX podcast, our host Jonathan Aymin welcomes tax advisor Sugey Piedra to the show to discuss a range of tax strategies specifically designed for wedding venue owners. She highlights the differences between services and products within the context of tax considerations. They also explore the intricate tax implications that arise from venue rentals and the provision of wedding planning services, shedding light on how understanding these financial intricacies is crucial for achieving business success. Sugey touches on the importance of accurately categorizing income streams as either rental or service-based, as this distinction can significantly impact tax liabilities. By meticulously accounting for all venue-related expenses, owners can ensure that they are maximizing tax benefits and minimizing potential risks. Sugey also emphasizes the strategic benefits of separating property ownership from service management within a wedding venue business framework. This separation not only simplifies financial reporting but also allows for more effective tax planning and optimization of financial resources. She encourages financial literacy and strategic tax planning in the wedding venue industry, providing valuable insights that can empower owners to navigate tax complexities with confidence and optimize their business operations for long-term success.   About Our Guest:  Sugey Piedra brings over 20 years of tax preparation experience and a unique approach to her work. In 2018, she co-founded Prominence Business with her two sisters, aiming to help clients with annual tax planning and tax-saving strategies. As an enrolled agent and certified tax preparer for over two decades, Sugey is passionate about making her clients' money work for them, allowing them to achieve financial freedom. At Prominence Business & Wealth Management, where she serves as co-founder, Sugey supports high-earning, service-based business owners in achieving long-term wealth through comprehensive financial services such as bookkeeping, tax preparation, financial planning, and tax strategy, all under one roof. Aside from her business responsibilities, Sugey also hosts and produces the Tax Talk with HeyHey Podcast, providing valuable insights into business taxes, wealth building, and the journey to financial freedom. Her expertise has also been featured on Sell Without Selling. When she is not immersed in helping business owners grow their income, Sugey enjoys traveling, horseback riding, and investing time in her personal growth mindset. Find Her Here:  Tel: 626-825-8249 Email: admin@prominencebusiness.com  Website: www.prominencebusiness.com  Instagram: www.instagram.com/prominence.services  Linked In: www.linkedin.com/in/Sugey Piedra

Start this week right by learning how to make your money WORK for YOU with special guest Sugey Piedra. Sugey is the co-founder of Prominence Business & Wealth Management, she supports high-earning, service-based business owners achieve long-term wealth through a holistic approach to financial services, providing bookkeeping, tax preparation, financial planning, and tax strategy under one roof. Together with her two sisters/co-founders, Sugey runs the business, and also hosts and produces ⁠Tax Talk with HeyHey Podcast⁠, where they provide insights into business taxes, wealth building and what it means to really create financial freedom. Besides her own show, Sugey has also been featured on Sell Without Selling and Business Spotlight USA. You can find Sugey on ⁠Facebook⁠ and Instagram ⁠@prominence.services⁠ and check out her website ⁠prominencebusiness.com. ⁠ Listen to her podcast, ⁠Tax Talk with HeyHey⁠.  Paola's Links

On this episode of Upticks, join Jake and Cory as they thoroughly discuss a couple of listener suggestions before diving into the headlines of the show. How much can your friends impact your finances? Probably more than you think. Jake and Cory touch on what you can do if you receive an unexpected tax bill or tax return, how you can handle wedding costs, and what investing in a bull market looks like. Thank you for joining us this week! If you have an article suggestion, please send it to luke@falconwealthadvisors.com. Jake and Cory would love to discuss (or debate) articles sent their way. To subscribe to our newsletter, please email luke@falconwealthadvisors.com If you would like to contact us, please visit our website at: https://falconwealthadvisors.com/contact.html Upticks is a show about financial planning and investments. Join Jake Falcon, CRPC® as he discusses financial planning topics including retirement, tax planning, debt, charitable giving, etc. In addition, Jake dives deep into investments and explains stocks, bonds, options, cryptocurrency and other timely market topics. Be sure to subscribe so you don't miss an episode!               Falcon Wealth Advisors is an independent-minded wealth management practice located in the Kansas City metro.  Our team of 15 professionals specializes in retirement planning for individuals.  We help our clients make important decisions around when to retire, social security, health insurance, tax planning, and many other financial planning topics.                   In addition to helping our clients plan for a successful retirement we also implement investments solutions.  We believe that what sets us apart is our philosophy to avoid investment products and instead buy/sell individual stocks, bonds, and options for our clients.  We do this to eliminate the middleman, which we believe increases control and transparency and decreases fees.          Clients choose to work with us to enhance their financial literacy and explain exactly what their financial plan means to them.              Visit Our Website         https://www.falconwealthadvisors.com/              Listen to our Podcasts          https://www.falconwealthadvisors.com/content.html             We're Social!         https://www.facebook.com/FalconWAdvisors/         https://www.instagram.com/falconwadvisors/         https://twitter.com/FalconWAdvisors         https://www.linkedin.com/company/falcon-wealth-advisors/              Connect with Jake Falcon, CRPC         https://www.facebook.com/jake.falcon.524         https://www.instagram.com/jake_falcon_crpc/?hl=en         https://twitter.com/jakefalconcrpc         https://www.linkedin.com/in/jakefalconfalconwealthadvisors         #upticks #retirement #fwa

Pat Darby is back on the Trulyfit Podcast to discuss  Finance & Tax Talk._Pat is the founder of Darby Business Advisors and is a Certified Financial Planner and Tax Advisor._His firm became specialized in this field because of his passion for health and fitness._Check out his website for more information:https://www.darbyba.com/IG: patdarbybiz-----------------------------------------------------------------------------------------------------------The TrulyFit Podcast's mission is to provide insights for those in health & wellness fields to better their understanding of science, patients/clients, business, and trending health tips & technologies.The show interviews experts in various Fitness & Health realms and gives actionable tips for both the general public and the professional.If you're curious about all things fitness & health...you found the right place!LISTEN ONApple Podcast: https://podcasts.apple.com/us/podcast/the-trulyfit-podcast/id1559994164Spotify: https://open.spotify.com/show/27jDzRtFENn03QQRRFCf5wSUBSCRIBE TO OUR CHANNEL: https://www.youtube.com/@trulyfitappFOLLOW USInstagram:@trulyfitapp#fitness #health #personaltrainer #trulyfitapp #fitnesspodast #healthpodcast #coach #stevewashuta #fitpro #podcast #trainer  #youtube #patdarby  #financialadvisor #tax #business #finance

Learn the importance of early filing, maximizing deductions, and explore key tax credits. Whether you prefer the DIY approach or seek professional guidance, we're here to offer valuable resources and tips to streamline your tax filing. 

On this week's episode of What's at Stake, Penta Partner Bryan DeAngelis and Managing Director Ylan Mui explore the implications of the Tax Relief for American Families and Workers Act with expert insights from guests Michael Steel, senior vice president of Communications at Business Roundtable and Kasey Pittman, a director with Baker Tilly's Washington national tax practice. They offer analysis on critical updates to business tax provisions, highlighting potential impacts on low-income families and business owners nationwide.The group touches on the changing U.S. business environment with a focus on small businesses and startups, assessing how updates to R&D tax credits, business interest deductions, and bonus depreciation could affect cash flows and innovation investments. Looking forward, they examine the dynamics of tax policies amidst global competition and a divided government. Discussing the potential for tax code revisions post-2024 elections, they also analyze the expiration of key provisions and the political strategies shaping the economic landscape. Tune in for a thoughtful exploration of the intersection between political decision-making, financial accountability, and the real-world impact on American businesses and families.

It's tax season! We break down the common forms you'll need to complete, where you find help if you need it, and when you can expect that refund (if you qualify!) on our latest episode of Making Cents of Money! Show Notes: IRS (federal) online account: https://www.irs.gov/individuals/free-tax-return-preparation-for-qualifying-taxpayers IRS Identity Protection PIN: https://www.irs.gov/identity-theft-fraud-scams/get-an-identity-protection-pin Illinois Tax site: http://mytax.illinois.gov and 1-800-732-8866 IRS Free File: https://apps.irs.gov/app/freeFile/ Volunteer Income Tax Assistance & Tax Counseling for the Elderly: https://www.irs.gov/individuals/free-tax-return-preparation-for-qualifying-taxpayers United Way My Free Taxes: https://myfreetaxes.com/ Ladder Up's Tax Assistance Program: https://www.goladderup.org/our-services/tax-assistance/ IRS Refund Tracker: https://www.irs.gov/wheres-my-refund Making Cents of Money Episode 25: Choosing a Financial Professional https://open.spotify.com/episode/1h1EYlZVYNku6embWmDaKB?si=a4d74bb7ae82447a&nd=1&dlsi=3db07992d5994fd2 Making Cents of Money Episode 10: Taxes! https://open.spotify.com/episode/5HYt5s47HzrYUMcJ4QoyCK?si=565ac23204f74a5f&nd=1&dlsi=422f666b5c54430c Get Savvy Illinois Webinar: Tackling Taxes https://www.youtube.com/watch?si=DSbtHl1gkSRIojmG&v=teZIDH8TL8A&feature=youtu.be Get Savvy Illinois Webinar: Choosing a Financial Professional https://www.youtube.com/watch?si=im_GUn3w4ZlWXjlw&v=PrhWdm-ALX4&feature=youtu.be Option for bank accounts: Bank On Illinois https://illinoiscomptroller.gov/constituent-services/public-services-community-programs/bankon-illinois

The Moneywise Radio Show and Podcast Tuesday, January 30th BE MONEYWISE. Moneywise Wealth Management I "The Moneywise Guys" podcast call: 661-847-1000 text in anytime: 661-396-1000 website: www.MoneywiseGuys.com facebook: Moneywise_Wealth_Management instagram: MoneywiseWealthManagement linkedin: MoneywiseWealthManagement Guest: Frank Wooldridge, Public Relations/Investigations at The Law Offices of Young Wooldridge  website: www.youngwooldridge.com/ phone: 661-327-9661  

In this podcast episode, Matt is joined by Steven Jarvis from Retirement Tax Services (RTS) to discuss a commonly misunderstood tax strategy and how you can add value to your clients through tax planning. Through talking about a critical tax strategy involving backdoor Roth contributions, they stress the importance of correctly reporting on tax returns and highlight common mistakes, such as errors in the 8606 form and issues when clients change tax preparers. The conversation explores pitfalls in the backdoor Roth process and the need for a proactive advisor.  Steven also warns against relying solely on software tools and why they require a knowledgeable operator. They also discuss the importance of managing all client accounts for optimal communication and the successful execution of complex strategies like the backdoor Roth. Tax Talk: Strategies for Efficient Backdoor Roth Conversions With Guest Steven Jarvis, CPA [Episode240] Resources for this episode: - Steven Jarvis: Website | LinkedIn - 8606 Masterclass - Effective Implementation Of A Backdoor Roth Strategy: Detailed Nuances, IRS Form 8606 (And When It's Even Worth Doing)

Today we sit down and talk taxes.  DISCLAIMER - we are not your tax advisor! Don't do anything we talk about unless you clear it with your tax advisor. Enjoy! Chris & Keane

Join this discussion with Jake and Cory as they explore listener-suggested topics like school spending records and their opinions on flat taxes. Uncover the IRS secrets as they discuss whether the IRS pays you interest and demystify the concept of tax credits. Don't miss Cory's big news! But that's not all – catch up on the latest headlines, from navigating unpopular social security benefits to the homebuying landscape in 2024. Learn why retirees aren't exempt from taxes in this comprehensive discussion. Don't miss the opportunity to broaden your financial knowledge! Subscribe to Upticks for a front-row seat to discussions that help elevate your understanding of the ever-evolving world of finance. Join the conversation and stay informed! Upticks is a show about financial planning and investments. Join Jake Falcon, CRPC® as he discusses financial planning topics including retirement, tax planning, debt, charitable giving, etc. In addition, Jake dives deep into investments and explains stocks, bonds, options, cryptocurrency and other timely market topics. Be sure to subscribe so you don't miss an episode!               Falcon Wealth Advisors is an independent-minded wealth management practice located in the Kansas City metro.  Our team of 15 professionals specializes in retirement planning for individuals.  We help our clients make important decisions around when to retire, social security, health insurance, tax planning, and many other financial planning topics.                   In addition to helping our clients plan for a successful retirement we also implement investments solutions.  We believe that what sets us apart is our philosophy to avoid investment products and instead buy/sell individual stocks, bonds, and options for our clients.  We do this to eliminate the middleman, which we believe increases control and transparency and decreases fees.          Clients choose to work with us to enhance their financial literacy and explain exactly what their financial plan means to them.              Visit Our Website         https://www.falconwealthadvisors.com/              Listen to our Podcasts          https://www.falconwealthadvisors.com/content.html             We're Social!         https://www.facebook.com/FalconWAdvisors/         https://www.instagram.com/falconwadvisors/         https://twitter.com/FalconWAdvisors         https://www.linkedin.com/company/falcon-wealth-advisors/              Connect with Jake Falcon, CRPC         https://www.facebook.com/jake.falcon.524         https://www.instagram.com/jake_falcon_crpc/?hl=en         https://twitter.com/jakefalconcrpc         https://www.linkedin.com/in/jakefalconfalconwealthadvisors         #socialsecurity #irs #homebuying #upticks #retirement #fwa

Join Brian Sussman on the "Tax Talk" podcast as he sits down with tax attorney Steve Moskowitz to delve into invaluable insights on minimizing financial risk. In this episode, Steve shares expert tips and strategies, guiding listeners on how to safeguard their money effectively in an ever-changing financial landscape.See omnystudio.com/listener for privacy information.

Today's conversation will focus on the importance of looking at your financial reports, such as the profit and loss (P&L) statement and income and expense reports, to gain meaningful insights into your business's performance. Sugey emphasizes the need to shift our perspective from simply looking at profit or loss to understanding how we can make informed decisions and take advantage of opportunities.   Sugey believes that there is a disconnect between business owners and the understanding of their financial numbers. In this episode, she shares valuable tips on how to make your numbers more approachable and easy to read, making financial reports something to look forward to rather than avoid.    Join us as we dive deep into the hidden power of your financial reports and gain the knowledge you need to keep what you earn. So grab your favorite beverage, find a cozy spot, and let's get started on this journey to financial empowerment! As an enrolled agent and 20+ year certified tax preparer, Sugey Piedra likes to make her clients' money work for them so that they don't have to work forever.   In her daily work as co-founder of Prominence Business & Wealth Management, Sugey supports high-earning, service-based business owners achieve long-term wealth through a holistic approach to financial services, providing bookkeeping, tax preparation, financial planning, and tax strategy under one roof.   Together with her two sisters/co-founders, Sugey runs the business, and also hosts and produces  Tax Talk with HeyHey Podcast, where they provide insights into business taxes, wealth building and what it means to really create financial freedom. Besides her own show, Sugey has also been featured on Sell Without Selling and Business Spotlight USA.   When she's not helping service-based business owners to grow their income, Sugey enjoys traveling, horseback riding and working on her own growth mindset.   Website: https://www.prominencebusiness.com/ LinkedIn: https://www.linkedin.com/in/sugey-piedra-ea-39aba911a/  Instagram: http://www.instagram.com/prominence.services Facebook: https://www.facebook.com/ProminenceBMgmt   What you'll hear in this episode: [4:30] Is an EA a better choice for taxes than a CPA? [9:14] Shifting perspective: Can I afford this? Or, how much can this save me? What will this do for me? How will this get me closer to my goals? Many people stay in a one-dimensional realm, missing important nuances. Looking at your numbers is only the first step. Without a scale or context, they lack meaning. [21:08] What does your bank or lender look for first? Your tax returns and financial reports. How financially strong are you on paper? It's important to know before making big purchases like a building or office. Don't wait until it's too late. By reviewing and understanding these reports together, it strengthens your overall financial position. If you like this episode, check out: QuickBooks Tips to Keep You Out of Your Books and in Your Business with Crystalynn Shelton What Your Numbers Are Trying to Tell You Differentiating Between Margin and Markup   Want to learn more so you can earn more? Business Financial Quickstarter: https://www.keepwhatyouearn.com/bfq Visit keepwhatyouearn.com to dive deeper on our episodes Visit keepwhatyouearncfo.com to work with Shannon and her team Watch this episode and more here: https://www.youtube.com/channel/UCMlIuZsrllp1Uc_MlhriLvQ Connect with Shannon on IG: https://www.instagram.com/shannonkweinstein/   The information contained in this podcast is intended for educational purposes only and is not individual tax advice. Please consult a qualified professional before implementing anything you learn.  

The Moneywise Radio Show + Podcast Wednesday, November 15th BE MONEYWISE. Moneywise Wealth Management I "The Moneywise Guys" podcast call: 661-847-1000 text in anytime: 661-396-1000 website: www.MoneywiseGuys.com facebook: Moneywise_Wealth_Management instagram: MoneywiseWealthManagement linkedin: MoneywiseWealthManagement Guest: Tom Maxwell - Business Owner, Entrepreneur and CPA/Partner at Keathley, Maxwell & Antongiovanni LLP. website: www.kmallpcpa.com/ phone: (661) 635-3180

In this week's episode of The Conference Room, we welcome Sugey Piedra as we discuss holistic financial planning for service-based business owners and the importance of understanding taxes for long-term wealth creation. KEY TAKEAWAYS FROM THIS EPISODE 00:04:23: Sugey shares the mission and offerings of her tax planning advisory firm, Prominence Business & Wealth Management. 00:13:17: Discussion on the concept of holistic financial services and how they differ from traditional financial planning. 00:24:42: Deep dive into the critical tax planning insights that Sugey disseminates on her podcast "Tax Talk with HeyHey." 00:34:29: Sugey recounts her experience being featured on podcasts like Sell Without Selling and Business Spotlight USA. 00:45:51: Conversation turns to how high-earning, service-based business owners can achieve financial freedom through effective tax planning. THIS WEEK'S GUEST - SUGEY PIEDRA In this week's episode of The Conference Room, we welcome Sugey Piedra, an influential figure in the realm of financial services. She is the co-founder of Prominence Business & Wealth Management, a firm that distinguishes itself by offering holistic financial services aimed at high-earning, service-based business owners. Sugey takes an integrated approach to financial planning, covering not just asset management but also effective tax planning strategies. In addition to her role at Prominence, she is the host and producer of the podcast "Tax Talk with HeyHey," where she provides invaluable insights into the nuances of business taxation and long-term wealth creation. Her expertise has also made her a sought-after guest on other business podcasts, such as Sell Without Selling and Business Spotlight USA, further solidifying her credibility and influence in the industry. To find out more about Sugey, please visit: www.prominencebusiness.com https://www.instagram.com/prominence.services/ https://www.facebook.com/ProminenceBMgmt https://www.linkedin.com/in/sugey-piedra-ea-39aba911a/ https://open.spotify.com/show/5zefMXdpLTX6mTzd14o7Xm?si=1cdef92df6c24e49&nd=1 To register for Sugey's upcoming Webinar, please visit: https://us02web.zoom.us/j/83390511882?pwd=VXRxcWFDT0pSUGlhOVFZckZUQlpydz09 Get to know more about Simon at:   Website: https://simonlader.com   Twitter: https://twitter.com/simonlader   LinkedIn: https://www.linkedin.com/in/headhuntersimonlader      The Conference Room is available on  Spotify: https://open.spotify.com/show/3dd0obQSM8cYRV0HCxiuF0     Apple Podcasts:  https://podcasts.apple.com/us/podcast/the-conference-room-with-simon-lader/id1517671682     Amazon Music:  https://www.amazon.com/Conference-Room-Simon-Lader/dp/B0BM351RT7/ref=sr_1_1?crid=3KV0SJVZWFNNX&keywords=the+conference+room+with+simon+lader+podcast&qid=1683558717&sprefix=%2Caps%2C133&sr=8-1     iHeartRadio  https://www.iheart.com/podcast/269-the-conference-room-with-s-102401058/     And everywhere else you listen to podcasts!