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New Year, New Tax Changes #117

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Manage episode 282862598 series 1594851
Content provided by Damien Martin, Damien R. Martin, and CPA. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Damien Martin, Damien R. Martin, and CPA or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.

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 retention credit (ERC)
    • What is the ERC? [01:55]
    • What changed? [05:17]
    • How do you claim the ERC retroactively for 2020? [09:54]
  • Extended credits under the Families First Coronavirus Relief Act [10:50]
    • Paid sick leave vs expanded family leave [12:32]
    • Importance of documentation [13:45]
  • Important considerations for the ERC [15:45]
  • Business meal deduction changes [22:00]
  • Charitable provisions for individuals [25:52]
  • Deferral of the employee’s portion of Social Security tax [27:26]
  • Other employment benefit changes [31:15]
  • Extender provisions [35:12]
  • Closing remarks [42:30]

Learn more about our guests and get additional resources here.

GET MORE “SIMPLY TAX”

We’re excited to also provide video content to strengthen your tax mind! Check it out on our YouTube channel.

A complete archive of our episodes is available on our website and YouTube playlist.

We’d love to hear from you! Email feedback and questions to SimplyTax@bkd.com.

Connect with Damien on social media!

LinkedIn | Twitter | Instagram | YouTube

  continue reading

164 episodes

Artwork

New Year, New Tax Changes #117

Simply Tax

60 subscribers

published

iconShare
 
Manage episode 282862598 series 1594851
Content provided by Damien Martin, Damien R. Martin, and CPA. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Damien Martin, Damien R. Martin, and CPA or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.

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 retention credit (ERC)
    • What is the ERC? [01:55]
    • What changed? [05:17]
    • How do you claim the ERC retroactively for 2020? [09:54]
  • Extended credits under the Families First Coronavirus Relief Act [10:50]
    • Paid sick leave vs expanded family leave [12:32]
    • Importance of documentation [13:45]
  • Important considerations for the ERC [15:45]
  • Business meal deduction changes [22:00]
  • Charitable provisions for individuals [25:52]
  • Deferral of the employee’s portion of Social Security tax [27:26]
  • Other employment benefit changes [31:15]
  • Extender provisions [35:12]
  • Closing remarks [42:30]

Learn more about our guests and get additional resources here.

GET MORE “SIMPLY TAX”

We’re excited to also provide video content to strengthen your tax mind! Check it out on our YouTube channel.

A complete archive of our episodes is available on our website and YouTube playlist.

We’d love to hear from you! Email feedback and questions to SimplyTax@bkd.com.

Connect with Damien on social media!

LinkedIn | Twitter | Instagram | YouTube

  continue reading

164 episodes

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