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In Part 2 of her “Alphabet Soup of Tax Planning” series, Cecily Welch uses numerical examples to explain how different savings vehicles can affect both current and future taxes. She compares traditional savings and investment accounts with Traditional and Roth IRAs, showing why the account that produces the lowest tax bill today may not necessarily provide the best long-term result. The episode helps listeners understand the difference between tax-preferred and tax-deferred savings and, most importantly, why choosing the right strategy depends on factors such as age, income, tax rate, retirement timeline, and expected future tax position.💡 What You’ll Learn• How savings accounts, taxable investment accounts, Traditional IRAs, and Roth IRAs receive different tax treatment, even when the same amount of money is invested. • The difference between tax-preferred and tax-deferred savings, including when taxes are paid on Traditional IRA contributions and earnings compared with Roth IRA funds. • Why your current and expected future tax rates can influence whether a Traditional or Roth IRA may be more advantageous. • Why tax planning requires an individualized analysis of income, age, retirement timeline, investment expectations, eligibility requirements, and other retirement accounts. 💬 Quote of the Episode“Everything that we do, each piece that we're looking at is all intertwined in the tax law.” — Cecily Welch🎧 Earn CPE by Listening to The Tax Translator™Thanks to growing interest from members like you, we've streamlined the process with a brand-new podcast self-study exam.Each episode of The Tax Translator ™ offers the option to purchase a self-study test for CPE credit. Episodes will feature a 3-question exam and will be worth 1 hour of CPE credit. A passing grade of 70% or better is required to earn credit. Exams may be submitted for CPE up to one year after the purchase date.Here’s the link to purchase the exam for this episode: https://www.gscpa.org/Public/Products/ProductDetails.aspx?ProductID=POD.TAXTRN.13RESOURCES:Cecily Welch, CPA, The Accountant You Can Understand®https://www.linkedin.com/in/cecilywelch/https://cecilywelch.cpa/Subscribe to The Tax Translator ™ LinkedIn Newsletterhttps://www.linkedin.com/newsletters/the-tax-translator%E2%84%A2-7130174142623977473/The Georgia Society of Certified Public AccountantsNot a Member of The Georgia Society of CPAs? Check out the benefits of becoming part of the community.https://www.gscpa.org/content/Membership.aspxCheck out all of The Tax Translator™ episodes here:https://www.gscpa.org/content/olc/VirtualSeries/Tax-Translator.aspx
In this episode of The Tax Translator, Cecily Welch sits down with Tom Bowen, CPA and attorney, to answer a question many clients have probably wondered: What does your CPA actually do all day? Tom and Cecily unpack the work happening behind the scenes, from tracking down missing information and correcting bookkeeping problems to responding to IRS notices, preparing financial statements, and managing deadline-driven emergencies. They also explain how clients can make the CPA relationship more efficient and valuable by maintaining good records, communicating proactively, understanding the limits of DIY accounting technology, and treating their CPA as a member of their financial team rather than simply a tax-return preparer.
💡 What You’ll Learn
• Why providing complete information upfront matters. When clients send documents piecemeal, CPAs repeatedly have to stop, restart, and reacquaint themselves with the work, increasing inefficiency for both the client and the firm.
• Why accounting software is a tool, not a substitute for accounting knowledge. Technology can make accounting more efficient, but the underlying accounting rules still apply, and incorrect entries can ultimately make financial statements and tax returns unreliable.
• How clients and CPAs can build a stronger professional relationship. Asking questions, respecting professional expertise, maintaining appropriate documentation, meeting deadlines, and recognizing when specialized expertise is needed can help both sides achieve a better outcome.
💬 Quote of the Episode
“When you wait till year end and think you're only doing it for your accountant, you've missed opportunities the whole year to run your business.” —Thomas Bowen
🎧 Earn CPE by Listening to The Tax Translator ™
Thanks to growing interest from members like you, we've streamlined the process with a brand-new podcast self-study exam.
Each episode of The Tax Translator ™ offers the option to purchase a self-study test for CPE credit. Episodes will feature a 3-question exam and will be worth 1 hour of CPE credit. A passing grade of 70% or better is required to earn credit. Exams may be submitted for CPE up to one year after the purchase date.
Here’s the link to purchase the exam for this episode: https://www.gscpa.org/Public/Products/ProductDetails.aspx?ProductID=POD.TAXTRAN.12
RESOURCES:
Cecily Welch, CPA, The Accountant You Can Understand®
https://www.linkedin.com/in/cecilywelch/
https://cecilywelch.cpa/
This Week’s Guest: Thomas Bowen
https://www.linkedin.com/in/tombowenatl/
Thomas Bowen, CPA
https://bowencpa.net/?utm_source=chatgpt.com
Subscribe to The Tax Translator ™ LinkedIn Newsletter
https://www.linkedin.com/newsletters/the-tax-translator%E2%84%A2-7130174142623977473/
The Georgia Society of Certified Public Accountants
Not a Member of The Georgia Society of CPAs? Check out the benefits of becoming part of the community.
https://www.gscpa.org/content/Membership.aspx
Check out all of The Tax Translator™ episodes here:
https://www.gscpa.org/content/olc/VirtualSeries/Tax-Translator.aspx
Need more CPE?
GSCPA’s CPE Catalog
The Tax Translator ™ Show Notes
She Fixes Broken Workplaces for a Living — Then She Fired Her Own Bookkeeper and Her CPA. HR Strategist, Culture Architect & Founder of MyHRLane, Rae Michelle Bullard - Episode 11
In this episode of The Tax Translator, Cecily Welch sits down with Rae Michelle Bullard, founder of My HR Lane, for a candid conversation about what business owners should expect from their professional advisors and what happens when those relationships stop working. Rae Michelle shares the experience that led her to fire her CPA, including a lack of proactive communication, limited collaboration with her other financial professionals, difficulty explaining her tax position, and an unexpected fee increase.
💡 What You’ll Learn
💬 Quote of the Episode
“Before you hire your first person, you should be consulting with an HR professional.” —Rae Michelle Bullard
🎧 Earn CPE by Listening to The Tax Translator ™
Thanks to growing interest from members like you, we've streamlined the process with a brand-new podcast self-study exam.
Each episode of The Tax Translator ™ offers the option to purchase a self-study test for CPE credit. Episodes will feature a 3-question exam and will be worth 1 hour of CPE credit. A passing grade of 70% or better is required to earn credit. Exams may be submitted for CPE up to one year after the purchase date.
Here’s the link to purchase the exam for this episode:
https://www.gscpa.org/Public/Products/ProductDetails.aspx?ProductID=POD.TAXTRAN.11
RESOURCES:
Cecily Welch, CPA, The Accountant You Can Understand®
https://www.linkedin.com/in/cecilywelch/
https://cecilywelch.cpa/
This Week’s Guest: Rae Michelle Bullard
https://www.linkedin.com/in/raebullard/
My HR Lane: https://www.myhrlane.com/about
Subscribe to The Tax Translator ™ LinkedIn Newsletter
https://www.linkedin.com/newsletters/the-tax-translator%E2%84%A2-7130174142623977473/
The Georgia Society of Certified Public Accountants
Not a Member of The Georgia Society of CPAs? Check out the benefits of becoming part of the community.
https://www.gscpa.org/content/Membership.aspx
Check out all of The Tax Translator™ episodes here:
https://www.gscpa.org/content/olc/VirtualSeries/Tax-Translator.aspx
Need more CPE?
GSCPA’s CPE Catalog
The Tax Translator ™ Show Notes
Productive, Focused, and Still Getting Blindsided at Tax Time with Nichica Melton - Episode 10
In this episode of The Tax Translator, Cecily Welch talks with productivity strategist, author, speaker, and entrepreneur Nichica Melton about the connection between productivity, entrepreneurship, and financial decision-making. Nishika explains why being busy is not the same as being productive, how entrepreneurs can build their schedules around their actual priorities, and why delegation often becomes necessary as a business grows. The conversation also explores why tax and financial professionals should become part of an entrepreneur’s strategy earlier than many business owners expect—not simply after the business starts making money.
💡 What You’ll Learn
💬 Quote of the Episode
“You are the CEO, so you can no longer think like an employee.”—Nichica Melton
🎧 Earn CPE by Listening to The Tax Translator ™
Thanks to growing interest from members like you, we've streamlined the process with a brand-new podcast self-study exam.
Each episode of The Tax Translator ™ offers the option to purchase a self-study test for CPE credit. Episodes will feature a 3-question exam and will be worth 1 hour of CPE credit. A passing grade of 70% or better is required to earn credit. Exams may be submitted for CPE up to one year after the purchase date.
Here’s the link to purchase the exam for this episode:
https://www.gscpa.org/Public/Products/ProductDetails.aspx?ProductID=POD.TAXTRN.10
RESOURCES:
Cecily Welch, CPA, The Accountant You Can Understand®
https://www.linkedin.com/in/cecilywelch/
https://cecilywelch.cpa/
This Week’s Guest: Nichica Melton, M. Ed.
https://www.linkedin.com/in/nichica/
https://mindingmybusiness.vip/
Subscribe to The Tax Translator ™ LinkedIn Newsletter
https://www.linkedin.com/newsletters/the-tax-translator%E2%84%A2-7130174142623977473/
The Georgia Society of Certified Public Accountants
Not a Member of The Georgia Society of CPAs? Check out the benefits of becoming part of the community.
https://www.gscpa.org/content/Membership.aspx
Check out all of The Tax Translator™ episodes here:
https://www.gscpa.org/content/olc/VirtualSeries/Tax-Translator.aspx
Need more CPE?
GSCPA’s CPE Catalog
The Tax Translator ™ Show Notes
Shhh…Here's What We Really Say About Clients Behind Closed Doors with Michael Pompilio - Episode 9
In this episode of The Tax Translator, Cecily Welch sits down with Michael Pompilio, a tax partner with more than 25 years of experience in income tax planning, mergers and acquisitions, and business structuring. Together, they tackle the often-unspoken disconnect between what clients expect from their CPAs and what accountants actually need from their clients to provide valuable advice. From choosing the right CPA and communicating throughout the year to avoiding costly problems as a business grows, Michale explains why the strongest accountant-client relationships depend on fit, communication, and realistic expectations.
💡 What You’ll Learn
💬 Quote of the Episode
“Taking on every client doesn’t make you more money.” —Michael Pompilio
🎧 Earn CPE by Listening to The Tax Translator ™
Thanks to growing interest from members like you, we've streamlined the process with a brand-new podcast self-study exam.
Each episode of The Tax Translator ™ offers the option to purchase a self-study test for CPE credit. Episodes will feature a 3-question exam and will be worth 1 hour of CPE credit. A passing grade of 70% or better is required to earn credit. Exams may be submitted for CPE up to one year after the purchase date.
Here’s the link to purchase the exam for this episode:
https://.gscpa.org/Public/Products/ProductDetails.aspx?ProductID=POD.TAXTRN.9
RESOURCES:
Cecily Welch, CPA, The Accountant You Can Understand®
https://www.linkedin.com/in/cecilywelch/
https://cecilywelch.cpa/
This Week’s Guest: Michael Pompilio
https://www.linkedin.com/in/mike-pompilio-66149b5/
https://www.crowe.com/about-us/our-people/michael-pompilio
Subscribe to The Tax Translator ™ LinkedIn Newsletter
https://www.linkedin.com/newsletters/the-tax-translator%E2%84%A2-7130174142623977473/
The Georgia Society of Certified Public Accountants
Not a Member of The Georgia Society of CPAs? Check out the benefits of becoming part of the community.
https://www.gscpa.org/content/Membership.aspx
Check out all of The Tax Translator™ episodes here:
https://www.gscpa.org/content/olc/VirtualSeries/Tax-Translator.aspx
Need more CPE?
GSCPA’s CPE Catalog
The Tax Translator ™ Show Notes
The Bill Behind the Bill, Georgia State Representative, CPA, Business Owner, Past Democratic Minority Whip, and Champion for the Middle Class, David Wilkerson - Episode 8
In this episode of The Tax Translator, Cecily Welch sits down with Georgia State Representative and CPA David Wilkerson to pull back the curtain on how tax legislation is actually created. They discuss why tax policy is often far more complicated than the headlines suggest, using Georgia's Senate Bill 33 as a real-world example of how legislative process, constitutional requirements, and local government funding all intersect. Beyond the technical details, David explains how citizens can effectively engage with their elected officials and why thoughtful tax policy requires time, transparency, and public participation.
💡 What You’ll Learn
💬 Quote of the Episode
“You can't sit in the back of the Capitol and come up with good tax policy in a matter of hours.” —David Wilkerson
🎧 Earn CPE by Listening to The Tax Translator ™
Thanks to growing interest from members like you, we've streamlined the process with a brand-new podcast self-study exam.
Each episode of The Tax Translator ™ offers the option to purchase a self-study test for CPE credit. Episodes will feature a 3-question exam and will be worth 1 hour of CPE credit. A passing grade of 70% or better is required to earn credit. Exams may be submitted for CPE up to one year after the purchase date.
Here’s the link to purchase the exam for this episode:
https://www.gscpa.org/Public/Products/ProductDetails.aspx?ProductID=POD.TAXTRN.8
RESOURCES:
Cecily Welch, CPA, The Accountant You Can Understand®
https://www.linkedin.com/in/cecilywelch/
https://cecilywelch.cpa/
This Week’s Guest: Georgia Representative David Wilkerson, CPA
https://www.wilkersonforgeorgia.com/
Subscribe to The Tax Translator ™ LinkedIn Newsletter
https://www.linkedin.com/newsletters/the-tax-translator%E2%84%A2-7130174142623977473/
The Georgia Society of Certified Public Accountants
Not a Member of The Georgia Society of CPAs? Check out the benefits of becoming part of the community.
https://www.gscpa.org/content/Membership.aspx
Check out all of The Tax Translator™ episodes here:
https://www.gscpa.org/content/olc/VirtualSeries/Tax-Translator.aspx
Need more CPE? GSCPA’s CPE Catalog
https://www.gscpa.org/public/catalog/search.aspx
The Tax Translator ™ Show NotesThe Story You Tell Yourself About Money with NIL Money Coach CC Clark - Episode 7In this episode of The Tax Translator, Cecily Welch welcomes NIL Money Coach CC Clark for an engaging conversation about the financial realities facing today's student-athletes. While NIL (Name, Image, and Likeness) opportunities have created unprecedented earning potential, many young athletes receive money before they receive financial education. Cecily and Coach CC discuss the importance of understanding taxes, money psychology, branding, and financial systems before signing deals. The conversation goes beyond tax compliance to explore how financial habits, family involvement, and mindset shape long-term success.💡 What You’ll Learn
💬 Quote of the Episode“An accountant isn't an expense—they're an investment.”
—Coach CC Clark🎧 Earn CPE by Listening to The Tax Translator ™Thanks to growing interest from members like you, we've streamlined the process with a brand-new podcast self-study exam.Each episode of The Tax Translator ™ offers the option to purchase a self-study test for CPE credit. Episodes will feature a 3-question exam and will be worth 1 hour of CPE credit. A passing grade of 70% or better is required to earn credit. Exams may be submitted for CPE up to one year after the purchase date.Here’s the link to purchase the exam for this episode: https://www.gscpa.org/Public/Products/ProductDetails.aspx?ProductID=POD.TAXTRN.7RESOURCES:Cecily Welch, CPA, The Accountant You Can Understand®https://www.linkedin.com/in/cecilywelch/https://cecilywelch.cpa/This Week’s Guest: CC Clark, M.Ed. (Coach CC)https://readyforthemoney.com/https://www.linkedin.com/in/cc-clark-m-ed-25b25892/The Prosperity Leaguehttps://www.skool.com/the-prosperity-league-nil-1335/aboutSubscribe to The Tax Translator ™ LinkedIn Newsletterhttps://www.linkedin.com/newsletters/the-tax-translator%E2%84%A2-7130174142623977473/The Georgia Society of Certified Public AccountantsNot a Member of The Georgia Society of CPAs? Check out the benefits of becoming part of the community.https://www.gscpa.org/content/Membership.aspxCheck out all of The Tax Translator™ episodes here:https://www.gscpa.org/content/olc/VirtualSeries/Tax-Translator.aspxNeed more CPE? GSCPA’s CPE Cataloghttps://www.gscpa.org/public/catalog/search.aspx
The Tax Translator™ Show Notes
Get a Spoonful of Tax Planning’s Alphabet Soup – Part 1 - Episode 6
In this solo episode of The Tax Translator, Cecily Welch tackles a topic that confuses many taxpayers: tax-advantaged benefits and the alphabet soup of financial planning acronyms. Through practical examples, she explains how tools such as Flexible Spending Accounts (FSAs) and Dependent Care Accounts (DCAs) can reduce taxable income and create real tax savings—even though those savings may never appear directly on a tax return. The episode focuses on helping listeners understand not just what these benefits are, but why they matter and how they fit into overall financial planning.
💡 What You’ll Learn
💬 Quote of the Episode
“Sometimes it doesn't actually show up on your return atall, but it has saved you money.” —Cecily Welch, CPA, CFP
🎧 Earn CPE by Listening to The Tax Translator™
Thanks to growing interest from members like you, we've streamlined the process with a brand-new podcast self-study exam.
Each episode of The Tax Translator ™ offers the option to purchase a self-study test for CPE credit. Episodes will feature a 3-question exam and will be worth 1 hour of CPE credit. A passing grade of 70% or better is required to earn credit. Exams may be submitted for CPE up to one year after thepurchase date.
Here’s the link to purchase the exam for this episode:
https://www.gscpa.org/Public/Products/ProductDetails.aspx?ProductID=POD.TAXTRN.6
RESOURCES:
Cecily Welch, CPA, The Accountant You Can Understand®
https://www.linkedin.com/in/cecilywelch/
https://cecilywelch.cpa/
Subscribe to The Tax Translator ™ LinkedIn Newsletter
https://www.linkedin.com/newsletters/the-tax-translator%E2%84%A2-7130174142623977473/
The Georgia Society of Certified Public Accountants
Not a Member of The Georgia Society of CPAs? Check out thebenefits of becoming part of the community.
https://www.gscpa.org/content/Membership.aspx
Check out all of The Tax Translator™ episodes here:
https://www.gscpa.org/content/olc/VirtualSeries/Tax-Translator.aspx
Need more CPE? GSCPA’s CPE Catalog
https://www.gscpa.org/public/catalog/search.aspx
The Tax Translator™ Show Notes
A Bonus, A Stipend, and a Paycheck Walk into a Tax Office - Episode 5
Have you ever said, "I've already paid taxes on that bonus," or wondered why your CPA keeps asking about compensation you've already received?
In this solo episode, Cecily Welch breaks down one of the most common tax misunderstandings: the difference between tax withholding and actual tax liability. Using real-world examples and straightforward explanations, she walks listeners through how bonuses, commissions, stipends, and other forms of compensation are treated for tax purposes—and why misunderstanding withholding can lead to unexpected tax bills.
💡 What You’ll Learn
💬 Quote of the Episode
“Withholding is just a deposit on what your eventual taxliability is.” —Cecily Welch, CPA, CFP
🎧 Earn CPE by Listening to The Tax Translator™
Thanks to growing interest from members like you, we've streamlined the process with a brand-new podcast self-study exam.
Each episode of The Tax Translator ™ offers the option to purchase a self-study test for CPE credit. Episodes will feature a 3-question exam and will be worth 1 hour of CPE credit. A passing grade of 70% or better is required to earn credit. Exams may be submitted for CPE up to one year after thepurchase date.
Here’s the link to purchase the exam for this episode:
https://www.gscpa.org/Public/Products/ProductDetails.aspx?ProductID=POD.TAXTRN.5
RESOURCES:
Cecily Welch, CPA, The Accountant You Can Understand®
https://www.linkedin.com/in/cecilywelch/
https://cecilywelch.cpa/
Subscribe to The Tax Translator ™ LinkedIn Newsletter
https://www.linkedin.com/newsletters/the-tax-translator%E2%84%A2-7130174142623977473/
The Georgia Society of Certified Public Accountants
Not a Member of The Georgia Society of CPAs? Check out thebenefits of becoming part of the community.
https://www.gscpa.org/content/Membership.aspx
Check out all of The Tax Translator™ episodes here:
https://www.gscpa.org/content/olc/VirtualSeries/Tax-Translator.aspx
Need more CPE? GSCPA’s CPE Catalog
https://www.gscpa.org/public/catalog/search.aspx
The Tax Translator™ Show Notes
Ignorance Can Be Expensive with Dr. Sylvia Morris - Episode 4
In this episode of The Tax Translator, Cecily Welch sits down with physician, author, and wellness advocate Dr. Sylvia Morris to explore the intersection of financial health and physical health. Through candid stories about inheritance, investing, caregiving, entrepreneurship, retirement planning, long-term care insurance, and financial decision-making, they discuss why understanding money is just as important as understanding your health. The conversation highlights how trusted advisors can help translate complex topics into practical decisions that improve both quality of life and long-term security.
💡 What You’ll Learn
💬 Quote of the Episode
“You can't really have physical health without financial health, and you can't have financial health without physical health.”
— Dr. Sylvia Morris
🎧 Earn CPE by Listening to The Tax Translator™
Thanks to growing interest from members like you, we've streamlined the process with a brand-new podcast self-study exam.
Each episode of The Tax Translator ™ offers the option to purchase a self-study test for CPE credit. Episodes will feature a 3-question exam and will be worth 1 hour of CPE credit.
A passing grade of 70% or better is required to earn credit. Exams may be submitted for CPE up to one year after thepurchase date.
Here’s the link to purchase the exam for this episode:
https://www.gscpa.org/Public/Products/ProductDetails.aspx?ProductID=POD.TAXTRN.4
RESOURCES:
Cecily Welch, CPA, The Accountant You Can Understand®
https://www.linkedin.com/in/cecilywelch/
https://cecilywelch.cpa/
This Week’s Guest: Dr. Sylvia Morris
https://www.drsylviamorris.com/
https://www.linkedin.com/in/drsylviamorris/
The Game Plan: A Woman’s Guide to Becoming a Doctor and Living a Life in Medicine
https://www.amazon.com/GAME-PLAN-Womans-Becoming-Medicine/dp/B0C5YM8SFJ
Boss Leap Podcast
https://bossleappodcast.com/
Subscribe to The Tax Translator ™ LinkedIn Newsletter
https://www.linkedin.com/newsletters/the-tax-translator%E2%84%A2-7130174142623977473/
The Georgia Society of Certified Public Accountants
Not a Member of The Georgia Society of CPAs? Check out the benefits of becoming part of the community.
https://www.gscpa.org/content/Membership.aspx
Check out all of The Tax Translator™ episodes here:
https://www.gscpa.org/content/olc/VirtualSeries/Tax-Translator.aspx
Need more CPE? GSCPA’s CPE Catalog
https://www.gscpa.org/public/catalog/search.aspx
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