show episodes
 
The Small Business Tax Savings Podcast is designed specifically for small business owners. We focus specifically on tax savings and ways to have a financially sounds back bone to your small business. Hosted by the JETRO and Associates team led by Mike Jesowshek, CPA. This is a quick hitting podcast aimed to get you important information without all the fluff. JETRO and Associates is a digital accounting firm servicing clients across the country focused exclusively on small business bookkeepi ...
 
Simply Tax™ cuts through the static of the tax world and doesn’t waste your time by needlessly tossing around technical terms and citing code sections. Host Damien Martin has a knack for boiling down complex issues for business professionals who need a trusted advisor to help strengthen their tax mind.
 
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show series
 
Step back in time for the thrilling radio drama conclusion of the case of “The Missing Deduction.” This follow-up to the short film brings you inside a day with—and the head of—host Damien Martin as he helps ace investigative reporter Annie Story boil down yet another complex aspect of Internal Revenue Code Section 199A following the shocking trans…
 
On this episode Mike Jesowshek, CPA talks about the 14 day home rental strategy (also known as The Augusta Rule). 1) What Is The 14 Day Home Rental Strategy (aka The Augusta Rule)? 2) What Do I Need To Do To Implement The 14 Day Home Rental Strategy? 3) Join Our Tax Minimization Program: https://www.taxsavingspodcast.com/tax -------- Podcast Host: …
 
In this podcast we are joined by Cory Ng, associate professor of instruction at Temple University in Philadelphia, and John Alarcon, founder and principal of BEARN, a management consulting firm in Philadelphia, to discuss their book, Artificial Intelligence in Accounting: Practical Applications. The authors, who are also Pennsylvania CPA Journal Ed…
 
This week we look at: Late revisions to PPP loan program House passes new COVID-19 relief bill, moves on to Senate Taxpayer gets out of tax on $300,000 of credit card rewards Texas taxpayers get extension to June 15 An audio only version of the broadcast can be downloaded below: A PDF with the articles for this week’s podcast can be downloaded belo…
 
On this episode Mike Jesowshek, CPA has special guest Matt Ruttenberg on to continue our series on retirement plan options. On this episode we discuss advanced retirement options for high income earners. 1) What Is A Cash Balance Plan? 2) Looking to connect with a professional or find out which retirement plan is right for you? Go Here: https://lif…
 
In a preview of her Accounting & Assurance and Employee Benefit Plans columns in the spring 2021 Pennsylvania CPA Journal, Dr. Nancy Stempin, director of technical accounting at Brown Schultz Sheridan & Fritz in Camp Hill, Pa., and an adjunct professor at Fairleigh Dickinson University, joins us to discuss changes to SAS Nos. 134, 136, 137, and 139…
 
This week we look at: A §280E case with potential impact outside of the cannabis industry Legal malpractice settlement could not be treated as excludable physical injury award IRS admits to an issue with 260,000 notices Calls come to extend the April 15 deadline again this year An audio only version of this week’s program can be streamed or downloa…
 
In a preview of his presentation at the March 18-19 PICPA CFOs and Controllers Conference, “CFO Whisperer” David Axson, a CFO strategist and adviser, joins us to discuss the role of the organizational advisor. We also touch on how COVID-19 has shaped the function as well as the future for finance professionals. To read the full transcript click her…
 
On this episode Mike Jesowshek, CPA has special guest Matt Ruttenberg on to continue our series on retirement plan options. On this episode we discuss the Safe Harbor and QACA Safe Harbor 401k. 1) What Is A Safe Harbor 401k? 2) What Is A QACA Safe Harbor 401k? 3) Looking to connect with a professional or find out which retirement plan is right for …
 
In a preview of his Business & Industry column in the spring 2021 Pennsylvania CPA Journal, Barry M. Pelagatti, CPA, a partner in the audit services group of RKL LLP in Exton, Pa., discusses the importance of cultivating stronger relationships with your organization’s lenders, especially during times of economic upheaval. To read the full transcrip…
 
This week we look at: Taxpayer finds no relief from FBAR penalties Tax Court outlines when it will allow a taxpayer to argue substance over form IRS warns about a phishing scam aimed at tax professionals An audio only version of this week’s broadcast can be streamed or downloaded below: This week’s articles can be downloaded below: 2021-02-15 Curre…
 
The American Institute of CPAs (AICPA) Tax Policy & Advocacy Team and volunteer members continually monitor and advocate on legislative, regulatory, and administrative tax matters. The team has been off to an active 2021, following a remarkably busy 2020. Guests Amy Wang and Alex Scott of the AICPA Tax Policy & Advocacy Team join host Damien Martin…
 
On this episode Mike Jesowshek, CPA has special guest Matt Ruttenberg on to continue our series on retirement plan options. On this episode we discuss the Traditional 401k. 1) What Is a Traditional 401k and What Do I Need To Know About Traditional 401ks? 2) Looking to connect with a professional or find out which retirement plan is right for you? G…
 
With tax season coming up quickly, it is never too early for tax preparers to start refamiliarizing themselves with many common forms. In this podcast, we take a detailed look at Form 1099-R, which pertains to distributions from pensions, annuities, retirement plans, and more. Walking us through the specifics are Gail Hauseman, owner of Berkshire C…
 
This week we look at: Form 1040 final instructions add to virtual currency confusion Teachers COVID-19 supply safe harbor released No relief for employee with unused FSA dependent care funds Form 1099 relief for CARES items not treated as taxable An audio only version of this week’s broadcast can be streamed or downloaded below: A PDF with this wee…
 
Barb Carlin, managing director, mid-Atlantic region, for Danforth Advisors in Waltham, Mass., will be participating in PICPA’s Life Sciences and Pharmaceutical Conference on Feb. 9, 2020. To preview the panel discussion she will be joining, Carlin met with us to discuss the state of the life sciences industry in Pennsylvania and along the eastern s…
 
On this episode Mike Jesowshek, CPA has special guest Matt Ruttenberg on to continue our series on retirement plan options. On this episode we discuss the SIMPLE IRA and Payroll Deducted IRA. 1) What Is a SIMPLE IRA and What Do I Need To Know About SIMPLE IRAs? 2) What Is A Payroll Deducted IRA and What Do I Need To Know About A Payroll Deducted IR…
 
With the inauguration of President Joe Biden now in our rearview mirror, it is time to focus on legislative matters of a more local variety, namely those arising in the Pennsylvania legislature. Peter N. Calcara, PICPA vice president of government relations, joins us to discuss the priorities of both the legislature and the PICPA, continued COVID i…
 
This week we look at IRS recommendations to those victimized by unemployment ID theft Revised Form 7200 gives information on advance ERC payment Interim IRS online system to submit Forms 2848 and 8821 AICPA letter on ERC and PPP forgiveness applications The articles for this week’s session can be downloaded below: 2021-02-01 Current Federal Tax Dev…
 
As a follow-up to her presentation at the 2020 PICPA Tax Con, Rachel Kieser, shareholder with Drucker & Scaccetti in Philadelphia, provides an update on individual federal income and estate tax issues for the upcoming year, including the impact President Joe Biden’s tax plans will have on estate taxes, how the CARES Act will affect 2020 tax filings…
 
On this episode Mike Jesowshek, CPA has special guest Matt Ruttenberg on to continue our series on retirement plan options. On this episode we discuss the SEP IRA and Solo or Individual 401k. 1) What Is a SEP IRA and What Do I Need To Know About SEP IRAs? 2) What Is a Solo 401k and What Do I Need To Know About Solo 401ks? 3) Should I Do a SEP IRA o…
 
The continuing COVID-19 crisis has forced employees nationwide to work from home in large numbers. This in turn has spurred businesses to think about their leases, in particular whether they should apply for lease concessions. To explore this question, we sat down with Ane Ohm, cofounder and CEO of LeaseCrunch, to discuss the difference between lea…
 
This week we look at: Penalty relief related to partners’ tax basis capital IRS provides limited option for ERC claims on 4th quarter 941 Revised PPP First Draw Maximum Loan Calculation PPP Borrowers Who Received Too Much Have to Pay Excess Back Second disbursement for PPP First Draw Loan procedures Gross Receipts Calculation for Second Draw Loans …
 
Tax headlines are swirling after several tax-related developments following the enactment of the 2021 Consolidated Appropriations Act on December 27, 2020. Tune in as host Damien Martin cuts through the static of these significant changes with returning guests Jesse Palmer and Yelena Bosovik. Here’s what’s covered: Expanded and extended employee re…
 
On this episode Mike Jesowshek, CPA has special guest Matt Ruttenberg on to start a series that we are doing on retirement plan options. 1) What Is Your Goal With a Retirement Plan? 2) What Retirement Plan Options Are Best For Businesses With No Outside Employees? 3) What Retirement Plan Options Are Best For Businesses With Employees? 4) Looking to…
 
The transition from Donald Trump’s presidential administration to that of Joe Biden’s has been, to put it lightly, rocky. With a new era in presidential leadership set to be ushered in, does this mean a whole new era in federal taxation will come with it? To answer this question, we met with Bruce A. Hyde, CPA, partner and wealth adviser for Round …
 
This week we look at: Amounts advanced by partner were a debt leading to income for other partners Auto valuation COVID-19 relief for employers Final qualified plan loan offset rules Opening of electronic filing pushed back to February 12 IP-PIN program now open nationwide An audio only version of this week’s update can be streamed or downloaded be…
 
On this episode Mike Jesowshek, CPA has special guest Danny Wright on to talk about what you need to know about sales tax.. 1) What Is Sales Tax Nexus? 2) Is My Product or Service Subject to Sales Tax? 3) When It Comes to Sales Tax, What Process Should I Follow? 4) Introduction to our new product launch! Join Our Waiting List Here: https://www.jetr…
 
The latest COVID-19-related relief package included key changes to the Paycheck Protection Program (PPP). Get the practical insights you need from returning guests Tad Goodenbour and James Anderson as they discuss what these changes mean for borrowers and the interim final rules released January 6, 2021, by the U.S. Small Business Administration (S…
 
In this episode of CPA Conversations, Dr. Sean Stein Smith, assistant professor at the City University of New York – Lehman College, joins us to talk about some of the most pressing aspects in the area of blockchain, such as the status of its adoption and implementation, the importance of internal controls to its sustainability, and its role in sha…
 
On this episode Mike Jesowshek, CPA talks about how you can make this tax season stress free and some of the important due dates for 2020. 1) Action Steps For Your Business Tax Return 2) Action Steps For Your Personal Tax Return 3) What Are The 2020 Tax Due Dates? 4) What Is The JETRO Tax Process? 5) Introduction to our new product launch! Join Our…
 
Transfer tax exemptions were one of the many aspects of the tax world that were affected by the 2017 Tax Cuts and Jobs Act. The legislation affected options around gifting, rules for individuals vs. couples, and so much more. To find out the status of these exemptions, as well as whether the results of the presidential election may affect them even…
 
This week we look at: Final small business accounting method regulations issued User fee for estate tax closing letter proposed 3rd Circuit overrides Tax Court on notice of address change to IRS Due dates for claims for refund for 2020 returns FinCEN plans to add crypto-currency accounts to FBAR An audio only version of this week’s broadcast can be…
 
The twists and turns of 2020 made it difficult to keep up with tax court cases this year, but we’ve got you covered! Frequent guest Tony Nitti returns to the podcast again this year to boil down the key lessons from his top tax cases with host Damien Martin. Here’s what’s covered in our final episode of 2020: Bordelon v. Commissioner, T.C. Memo 202…
 
On this episode Mike Jesowshek, CPA talks about the new COVID relief bill and what you need to know. Here is what is discussed today: 1) What Is Included In the COVID Relief Bill for Individuals? 2) What Is Included In the COVID Relief Bill for Businesses? 3) Introduction to our new product launch! Join Our Waiting List Here: https://www.jetrotax.c…
 
When disaster strikes, unfortunately criminals view it as open season for committing of financial fraud. The coronavirus pandemic certainly qualifies as a disaster, and fraudsters have been quick to seize upon the opportunity presented by the Paycheck Protection Program, a piece of legislation meant to help small businesses that have been waylaid b…
 
This week we look at the 3 employee retention credits in the bill that may never become law - the Consolidated Appropriations Act, 2021: Taxpayer Certainty and Disaster Relief Act of 2020 versions Applicable to 2020 retroactively found at §206 Applicable to 2021 only found at §207 Taxpayer Certainty and Disaster Relief Act of 2020 ERC - for non-COV…
 
The U.S. Congress recently approved $900 billion in financial relief for families and businesses who have been adversely affected by the coronavirus pandemic. The relief package includes direct checks for individuals, funding for distribution of the coronavirus vaccine, and a second round of the Paycheck Protection Program. To walk us through this …
 
On this episode Mike Jesowshek, CPA shares an appearance he had on The One Big Tip Podcast by Jeff Mendelson. Here are the show notes from that episode: When Mike stepped out of his marketing job and into the new realm of tax accounting, he took a lot of helpful business practices with him. One of the primary factors was the idea of a virtual busin…
 
The mission of the Pennsylvania CPA Foundation is to inspire students to pursue careers in accounting and provide the educational, motivational, and financial support they need to work toward achieving the CPA credential. In a wide-ranging discussion, Jerry Maginnis, chair of the Pennsylvania CPA Foundation, explains the ways by which that support …
 
This week we look at the proposed revisions to the PPP loan program: Proposed COVID-19 Relief Bill Reopen and revise PPP loans Create second draw need based PPP loan program Fix the deduction issue Simplified forgiveness applications (2) An audio only version of this week’s broadcast can be streamed or downloaded below: Download a document describi…
 
In a preview of her presentation at the Jan. 7, 2021, PICPA Technology for Public Accounting Conference, Leslie Kirsch, former director of central analytics for Withum, joins us to discuss the importance of data readiness and integrity, including ways to make more effective client data requests. Consider taking a minute to participate in Leslie’s d…
 
On this episode Mike Jesowshek, CPA talks about purchasing, deducting, and depreciation a business vehicle. Here is what is discussed today: 1) What Options are Available for Vehicle Deductions? 2) What Do I Need To Know About Vehicle Depreciation? 3) How Do I Depreciate a New or Used SUV, Van or Pickup Truck With GVWR of 6,001 Pounds or More? 4) H…
 
There has long been a movement to streamline the issues surrounding taxation and telecommuting. Interestingly, the onset of the coronavirus has both made clarity on this issue more important and made it tougher to pursue due to the residual issues that need addressing. To discuss how COVID-19 shining a spotlight on Pennsylvania’s taxation of teleco…
 
This week we look at: IRS issues Q&As on CARES Act §§102 and 103 Tax organizations respond to IRS Commissioner on no penalty relief SBA issues guidance on tax reporting for CARES Act §1112 payments SBA adds Q&A on Forms 3509 and 3510 An audio only version of this week’s broadcast can be streamed or downloaded below. A PDF with articles on this week…
 
Danielle Supkis Cheek, director of entrepreneurial advisory services for Pannell Kerr Forster of Texas PC, will be a presenter at the Jan. 7, 2021, PICPA Technology for Public Accounting Conference. In this podcast, she joins us to provide an update on information technology standards implementation and independence, including delays brought about …
 
The American Institute of CPAs (AICPA) Tax Policy & Advocacy Team and volunteer members continually monitor and advocate on legislative, regulatory, and administrative tax matters—and 2020 has been an exceptionally busy year. In this episode, guest Melanie Lauridsen, AICPA tax policy and advocacy senior manager, joins host Damien Martin to share wh…
 
On this episode Mike Jesowshek, CPA talks about self employed health insurance and what you need to do to ensure you get a full deduction. He also talks about a few other last minute health strategies you can utilize yet here in 2020. Here is what is discussed today: 1) How do I report self-employed health insurance premiums as a sole proprietor or…
 
Controllers must master many skills to ensure career success. Things like risk management, the ability to anticipate challenges, and technological savvy are near the top of the list. But according to Mike Whitmire, CEO and cofounder of FloQast and author of Controller’s Code: The Secret Formula for a Successful Career in Finance, soft skills, such …
 
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