Diane Gardner is guest starred on the Real Estate Rockstar Radio podcast with show host Pat Hiban. CLICK HERE TO LISTEN In This Podcast You Will Learn: One change to tax law that affects almost all agents [5:28] Why you’ll likely save at least $1,200 on this year’s taxes [14:21] What agents need to know about QBI [15:44] Ways your kids could save you money on taxes [26:30] One major exemption that’s now gone [38:13] A tax credit that has doubled this year [38:54] Examples of first-year write offs [41:00] An alternative to the 1031 exchange [44:29]
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Doctor Freedom – Podcast Episode
Diane Gardner is guest starred on the Dr. Freedom Podcast with show host David Denniston. CLICK HERE TO LISTEN In This Podcast You Will Learn: Discover the changes for W-2 earners and 1099 earners. Learn what the New Qualified Business Deduction is and who qualifies for that deduction. Discover what the Medical Expense Reimbursement Plan (MERP) is and what business types could benefit. What is the best way to save on taxes and how it will benefit you in the future. Acquire Diane’s theory on the new tax bill and how it will affect most Americans. To listen
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Paying Your Tax Bill With Magic Beans?
Ohio First State to Allow Taxes Paid with Bitcoin If you pay attention to financial news, you can’t escape hearing about Bitcoin and other cryptocurrencies. Bitcoin is just like country music, Justin Bieber, and pineapple on pizza — people either love it, or hate it, but there’s no middle ground. The billionaire Warren Buffet dismisses it as a “mirage,” a “Buck Rogers” phenomenon, and “rat poison squared.” But legions of fans see it someday replacing government-backed currencies. Odds are good that one of the millennials at your holiday table believes in Bitcoin as hopefully as they used to believe in
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Carrots versus Sticks
The IRS Employs the Carrot vs. Stick Method Take a look at our Internal Revenue Code. No, really, take a good look. (You can buy it on Amazon for just $161.89: two thick paperbacks totaling 4,968 pages. You even get free Prime shipping!) At first glance, it’s all about the revenue. For FY 2019, federal income taxes should hit nearly $1.7 trillion. Payroll taxes will top $1.2 trillion. Corporate taxes, $225 billion. And estate taxes will generate somewhere around $20 billion, depending on how many billionaires die (#dropinthebucket). But taxes aren’t just about the revenue. Washington loves to use taxes to accomplish goals
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Vroom Vroom Veer – Podcast Episode
Diane Gardner is guest starred on the Vroom Vroom Veer Podcast with show host Jeff Smith. CLICK HERE TO LISTEN Diane Gardner Vroom Veer Stories GOOD: Changes to the Alternative Minimum Tax Mixed: Changes to the Itemized deductions Good: Some States are trying to work out a charitable contribution credit for the money that’s paid in for taxes. Congress is not happy with that. Good: I have a sole proprietorship, that makes me a pass through business, What’s new with pass-through business treatment? Ugly: meals in? and entertainment out? Good: Hire-your-kids strategy! YAY! Mixed: Standard deduction was raised, most folks
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Over-the-Top Thanks for This Tax “Break”
Wall Street Throwing Parties to Dodge Taxes Wall Streeters have a lot to give thanks for this holiday season. Earnings are up, so bonuses are up. And that, in turn, means taxes are up, too. The New York Post just reported that Wall Street Bankers Are Throwing Excessive Parties To Dodge Taxes. But will the wining and dining actually put money back in their pockets? Or is the tax angle just a convenient excuse to party up a storm on the company tab? Wall Street culture rewards bankers for results. They generally start out with low fixed salaries, at least as a percentage
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LeBron James Scoffs at These Taxes
Taking Advantage of All Tax Breaks Available! If you were coaching your kid’s basketball team, you wouldn’t win many games if you told them to aim for the backboard. Your opponents might love you, but there would be at least one dad in the stands screaming at you the entire time. So why have some tax collectors given up aiming for the hoop and settled for rebounds? At first glance, the tax code looks like 70,000+ pages of incomprehensible gobbledygook. (Sometimes you really can judge a book by its cover.) But scratch the surface hard enough and you’ll find a semblance of order. Add
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Hey, Jealousy
In Finland, Everyone’s Tax Returns Are Published Reality television has introduced us all to the joy of the “big reveal.” HGTV specializes in this sort of story. The perky couple, handsome brothers, or plucky first-time homeowners spend most of an episode covered in plaster dust and paint. Then after the final commercial break, they pull back the curtain on the dream interior so viewers can feel inadequate about their own homes. (VH1’s Dating Naked did things a little backwards, with the “big reveal” up front, but still managed to wring some drama out of the format.) In Finland, tucked between the Baltic
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Accountants Behaving Badly, Part 40
Accountant Charged With ‘Theft By Swindle’ Big-league baseball players like the ones who just wrapped up the World Series enjoy careers that last 5.9 years on average, and with 162 games per year, they enjoy lots of chances to be heroes. But eventually, even the best of them hang up their cleats and join the rest of us in the real world. The lucky ones find high-profile gigs running car dealerships or calling games from the broadcast booth. But every once in a while, a former player manages to makes headlines where you’d least expect them — like working as
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A Scary Disconnect
The “Double-Entry Bookkeeping” System, Legend holds that in 1494, an Italian friar named Luca Pacioli was sitting under an apple tree when an apple bounced off his head. In a flash of insight, he invented the “double-entry bookkeeping” system where each entry has a corresponding and opposite entry to a different account. Those entries, called debits and credits, help accountants avoid headaches — if the debits and credits don’t balance, there’s a mistake somewhere. (Some of you may be thinking that was Sir Isaac Newton with the apple inventing gravity, but this is our story and we’re sticking to it.) Double-entry bookkeeping
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