In this episode:

• Overview of tax and other benefits from having a Health Savings Account (HSA) health plan for medical expenses.
• The IRS is cracking down on the misuse of the fuel credit.
• Software development may be used to qualify an entity for the Research and Development Credit.
• The Social Security Wage Base makes another jump.
• The IRS has released the current tax-gap numbers.
• The IRS is allowing Employee Retention Tax Credit claims to be withdrawn if you feel you filed erroneously.

We also hear from Kelly Manchester, President and CEO of Corp 1. She speaks with us about the importance of taking care of your team, how incorporating services can benefit a business, and the necessity of good client experience. She also fills us in on the Corporate Transparency Act. This new Act will involve costly penalties for those who don't conform timely. We highly encourage you to listen and educate yourselves and your business!

In this episode:

• Student loan interest is deductible, with limits.
• The 2024 travel expenses per diem have been released.
• The IRS has stated it's pausing some audits for professional service businesses.
• Make sure you have a beneficiary listed on your retirement accounts.

We are joined by Daniel Yearick, the Facilities & Event Operations Manager at DE Turf Sports Complex. He talks to us about raising funds for a large enterprise, how the sports complex has benefitted Delaware and it's tourism, how working with our state government helped the complex get off the ground, and the amazing programs they have going on and planned for the future.

In this episode:

• New mandate requires some 1099s and W-2s to be e-filed in 2024.
• Home office depreciation may impact tax on home sales.
• Home interest deduction rules reviewed.
• Bonus depreciation changes may impact tax planning strategies.

We also hear the story of Anthony Gignac, who portrayed himself as being a Saudi Prince to get all he could out of life, and everyone around him.

Research from:

"The Con" Season 1, Episode 5 "The Royal Con"

Red-handed Podcast - Episode 303: Anthony Gignac: Prince of Fraud

https://en.wikipedia.org/wiki/Anthony_Gignac

In this episode:

• How long should you really keep tax documents?
• C-Corp & 1040 tax deadline is 10/16/23.
• New beneficial ownership reporting starts on 1/1/2024. There will be steep penalties for noncompliance.

We also talk to Lisa Ratliff and Shannon Mercer of The Little School. We hear about the school's long history, the fine line business owners have to walk between salary and revenue, and the very real issue of the childcare crisis and how it is impacting businesses in Delaware.

In this episode:

• Talks of expanding Net Investment Income Tax.
• Simple IRA may be a good fit for your business.
• Extension of IRA catch-up contributions.
• Brokers have new digital sale reporting requirements.
• IRS is increasing interest rates.

We are joined in the studio by George Dobbins, owner and trainer at CrossFit Dover, Delaware's first CrossFit Gym. He speaks of his evolution as a business owner, the importance of having the correct mindset and how his team is helping the youth of Dover, Delaware.

In this episode:

• Avoid heavy penalties by disclosing any accounts you hold in other countries that total over $10,000.
• "Back door tax increase" created by new 401(k) catch-up contribution rule.
• Revocable Trusts: explanations and best practices.

We also hear from Todd Stonesifer, President of The Moving Experience, a local real estate brokerage on how he's shaking up the real estate business. Todd is also the President of the Board of Directors for the Downtown Dover Partnership. He fills us in on the big plans starting to unfold in Downtown Dover, Delaware and what's next on the list to revitalize the area.

In this episode:

• Continuing issues and scams with ERTC.
• Be vigilant for cyber-fraud attacks.
• Issues with inaccurate penalty notices.
• The IRS announces that they've lost tax documents.

In this episode:

• Inherited IRAs - Different rules on distribution requirements.
• New IRS targets for LLCs and LLPs.
• Mortgage interest limitations on personal residence and secondary homes.
• New IRS scam arriving in the mail.
• IRS says they will no longer be conducting surprise on-site visits.

We are also joined in the studio by Keith Adams, owner and operator of Vivids Video Productions in Seaford, DE. He talks to us about following your passions, the importance of overcoming things that cause discomfort in order to enhance your business, and how video can be used to impact a business's bottom line.

In this episode:

• Withholding taxes from your IRA to cover estimated tax payments.
• Usings Section 179 instead of Bonus Depreciation.
• Retirement planning strategies for business owners.
• Employee Stock Ownership Plans (ESOP) - What they are and when they're a good fit.

We also speak with Christopher Baker, P.E., President and CEO of George & Lynch, Delmarva's top infrastructure contractor. He speaks about the history of George & Lynch and what it takes to reach a business's 100-year anniversary. He also talks about creating ESOP plans to give employees a greater sense of ownership of the company, how supply chain interruptions impact a business, and what George & Lynch has planned for the future.

In this episode:

• Top reasons to avoid paper filing a return (and avoid the backlogs at the IRS).
• The State of Delaware has issued more erroneous notices.
• A look into 1031: Like Kind Exchanges.

We also hear the story of Rudy Kurniawan, the notorious wine counterfeiter, who captivated the wine world with his elaborate scam. He lived a luxurious life, charming collectors with his extensive wine knowledge. Using blending techniques and counterfeit labels, he sold fake wines at high-profile auctions, fooling even experts. His downfall came when suspicions arose, leading to his arrest in 2012. Kurniawan's case exposed the need for stricter authentication measures and damaged the reputation of auction houses.