If the Huddle Guys sound tired in this episode, it is because they are!  This recording was made 4 days before the tax filing deadline, but that would not stop them from sharing advice about entity structures.  The Huddle Guys give a high-level overview of the most common business entities and their tax implications.  This includes sole proprietorships, partnerships, LLCs, and corporations.

At the beginning, in Eric’s self-described ‘story time segment,’ we are provided with the important reminder to review our tax returns.  It is our responsibility, not our CPA’s.  Our review (or lack thereof) can have serious implications.  And remember, your CPA is not a mind reader!

Check out Eric’s website www.pierreaccounting.com for some helpful information about paying your taxes online.  And Ignatius’ YouTube as resources too. 

It’s time to huddle up!

In this episode, the Huddle Guys talk about paying your kids…yes, you heard that correctly…putting your kids on the payroll. This topic is explored from the vantage point of business owners who want to explore ways for providing income to your children, with tax benefits to boot. 

“Someday is not a day of the week.” Janet Dailey

For many, there is something about procrastination and taxes that go hand in hand. Even those who are not naturally inclined to procrastinate can be prone to ‘kick the tax soda can’ down the road.

The Huddle Guys, (aka the 2 Tired CPAs) are burning the candle at both ends for their clients as we move closer to the May 17th filing deadline.  If you have not yet filed your return, you are actually in luck because the Huddle Guys dedicated this episode to sharing some last-minute tax filing tips.

The Huddle Guys also remind us to be kind to our tax professionals! According to the Huddle Guysit is not okay to text your CPA at 6:00 am.  Who knew?!!  And maybe lighten up on the frantic emails too.

If you are still in need of a CPA for this tax season, consider Eric and Ignatius for your services.  Visit their websites and see how one of their firms can help you. www.pierreaccounting.com & www.iljcpa.com 

It’s time to huddle up!

In this episode, the Huddle Guys share some basic money ‘blocking & tackling’ concepts through a discussion of financial literacy.  The term financial literacy refers to the skills, smarts, and savvy that you possess that drive your ability to make informed, sound financial decisions.

April is Financial Literacy Month (there appears to be a month for everything!), which serves as an opportunity to review your current financial state and to make improvements towards creating a more secure financial future for you and your business.  Parents and caregivers, this is also a prompt to review money and investing concepts with your children and loved ones.  It is never too early to flex your financial literacy muscle!

A focus on financial literacy should not only happen in the month of April.  In addition to the sage advice provided by the Huddle Guys, check out this article with ideas on how to keep your momentum going year round:https://www.forbes.com/advisor/banking/national-financial-literacy-month-celebrate-learn-share/.

And no episode is complete without a little fun with the Huddle Guys.  Listeners, chime in and tell us who has the sexier radio voice, Ignatius or Eric!

It’s time to huddle up

In this episode, the Huddle Guys discuss a tax credit known as the Employee Retention Credit (ERC). The Taxpayer Certainty and Disaster Tax Relief Act of 2020, enacted December 27, 2020, made a number of changes to the employee retention tax credits previously made available under the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), including modifying and extending the ERC through June 30, 2021.

In short, the ERC is a refundable tax credit that MAY be available to business owners in a cash payment.  This is great news for business owners!

Listen as the Huddle Guys break down the details of the ERC, the applicable amounts and timing and how you may benefit.  As an added bonus, Eric shares a few lesser known facts about Austin, Texas (ATX), Central Texas, and Southern rap music.

It’s time to huddle up!

In this episode, the Huddle Guys discuss cryptocurrency.  If you are already lost on this topic...hold tight; Ignatius and Eric will dial down into this subject with ease, with particular focus on the tax implications related to cryptocurrency.

To some (including Eric!) cryptocurrency is ‘funny money.’  Something out of a sci-fi movie.  Simply put, cryptocurrency is digital or virtual currency.  And it is real, with very real considerations for your tax filings.

The Huddle Guys are seeing more cryptocurrency transactions in their clients’ portfolios.  The IRS is taking notice on this topic too.  Documentation is key for recording your digital wallet transactions.

Listen as the Huddle Guys share their insights about this increasingly popular genre of currency.  If you are already navigating the cryptocurrency waters, their advice will help to keep you on track, from a tax perspective.  If you are new to this space, the information they share can help you make sound decisions as you start find your way in this new medium of exchange.

It’s time to huddle up!

Does selecting a CPA who is best suited to meet your personal and business needs feel like a daunting task?  For some it can be.  If you are lucky, you may get a solid referral from your network; others may have to do the legwork on their own.

Whether you fall into the former or latter category, Eric Pierre and Ignatius Jackson provide 9 tips (8 + a bonus!) to guide your process to select a CPA.  From license verification, to technical expertise, to the relationship...there is a lot to consider. Obviously, price for services is also a concern when engaging a service provider. Pay particular attention to the watch out associated with focusing solely on price for the services provided by a CPA.

In typical Huddle Guys fashion, they share advice in a fun way that is easy to understand, supported by real-life examples that we can all learn from. 

And of course, you should consider Eric and Ignatius for your services.  Visit their websites and see how one of their firms can help you. www.pierreaccounting.com &  www.iljcpa.com

It’s time to huddle up

The American Rescue Plan Act of 2021 aka the Covid-19 Stimulus Package aka American Rescue Plan is the $1.9 trillion economic stimulus bill enacted on March 11, 2021. 

You don’t need to know all the names for the Act, or all the details, but the Huddle Guys are here to help you understand what parts may be relevant to your bottom line. For many, that can be the 2021 revisions to the Child Tax Credit.

Before Eric and Ignatious jump into the focus of this episode they have an update for early tax return filers that received unemployment benefits in 2020…the ARP may adjust the amount of that benefit that was taxable. Business owners, Employee Retention Credit, There is a lot covered in this episode. Get pen and paper ready…and add the Huddle Guys to your speed dial. It’s time to huddle up!

CPA Huddle is the fun, fast-paced podcast that simplifies accounting and tax trends for everyone. This podcast is a time efficient resource hub that will increase your money management IQ.

Are you interested in exploring the possibility for tax savings? Then tune into this episode as Eric and Ignatius discuss Opportunity Zones. These ‘O-Zones’, have nothing to do with air quality, but they have lots do with the quality of your bottom line.

The Huddle Guys unpack:

 The WIIFM (What’s In It For Me?) for Opportunity Zones.

 Types of investments that qualify.

 The timeframe related to investment qualification.

 The timing for O-Zone elections for tax filings.

 Eligible gains.

This brief segment may set you up for some favorable outcomes in this tax filing season. It’s time to huddle up!

*As you start to listen to this podcast, please note the addendum at the top.  Since the recording of this episode, there have been updates to the Paycheck Protection Program - PPP Program.  In the supplemental information provided, Eric and Ignatius will point out a few of the modifications since the original recording and make brief mention to the American Rescue Plan (ARP), recently passed by Congress.*

In this episode, Eric and Ignatius discuss some key components of the Coronavirus Aid, Relief, and Economic Security - CARES Act, that may impact your personal finances and your business.  They tag team topics including PPP, Economic Injury Disaster Loans, theEmployer Retention Credit, and the Family First Coronavirus Response Act.

This year’s tax filing season has uncharted territory.  The Huddle Guys will help you get ready by highlighting areas of potential focus.  Over the past year, economic issues moved quickly, and they were sometimes ambiguous and confusing.  The Huddle Guys are going to slow the cadence a bit and tighten in on a few key issues that you can take action on.

Grab your coffee tea, or energy drink and listen in.  It’s time to huddle up!