In this episode of The Concierge CPA Podcast, Dr. Jackie Meyer discusses recent tax news and insights with David Podell, Founder of Business Benefits Consultants. They explore the implications of the IRS's expansion of the free file program, the impact of smaller tax refunds on clients, and the hiring of new auditors. The conversation shifts to retirement planning, focusing on the benefits of solo 401(k) plans, government incentives for small employers, and common misconceptions about retirement contributions. The episode concludes with a lightning round of questions, providing light-hearted insights into the world of tax and finance.

🔗 Connect with David Podell

https://www.linkedin.com/in/bbconsultants/

https://businessbenefitsconsultants.com/

🔗 Connect with Dr. Jackie Meyer

Jackie's LinkedIn at https://www.linkedin.com/in/jackiemeyercpa

Jackie on Instagram @jackiemeyerCPA

Jackie's work at https://www.jackiemeyercpa.com

This episode is brought to you by TaxPlanIQ:

https://www.taxplaniq.com

Join the TaxPlanIQ newsletter here ➡️ https://www.taxplaniq.com/newsletter-signup-listeners.

Make sure you head to https://www.taxplaniq.com/podcast for your listener exclusives!

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Takeaways:

- The IRS is expanding their free file program, which may impact tax professionals.

- Clients are experiencing smaller refunds due to fewer pandemic-era credits and inflation.

- Retirement plans can provide significant tax benefits for business owners.

- Many individuals under-contribute to retirement plans, highlighting the need for better education.

- Auto-enrollment in retirement plans is helping increase participation rates.

- Solo 401(k) plans allow for higher contribution limits compared to other retirement plans.

- Government incentives are available for small employers setting up retirement plans.

- Common misconceptions about retirement plans can lead to missed opportunities for tax savings.

- It's important to regularly review retirement plans to ensure compliance and maximize benefits.

- Investing in oneself is crucial for long-term success in financial planning.

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