The Cleared Diagnostics Tax CPA Success Show: Recent Episodes
Summit CPA Group
As you're scaling your firm to be more Virtual CFO driven, you still want to provide your clients with the most up to date tax advice, right? Do you feel it’s getting harder and harder to stay on top of it all?
If so, tune into The Cleared Diagnostics Tax CPA Success Show, where Dave Danic, Director of Tax Services at Summit CPA Group, now A Division of Anders CPAs + Advisors, shares what’s going on in the tax world. Learn from Dave, host Tom Wadelton, and other special guests as they share updates on current tax law and operational stories from the tax practice of the leading Virtual CFO firm in North America.
"It's not everybody qualifies and I'll say that a hundred times today. Maybe not a hundred, because I hear people being promised, these credits that don't exist. Now, that being said, there's plenty of taxpayers that qualify for this that have not taken advantage of it yet" - Randy Crabtree
The finer details of this episode :
- Who is Randy Crabtree and what does Tri-Merit Specialty Tax Professionals do?
- What is the Employee Retention Credit (ERC)?
- How do you qualify for an ERC?
Episode resources
- Summit CPA website - www.summitcpa.net
- Email us with questions - tax@summitcpa.net
- Email Randy Crabtree - Randy.Crabtree@tri-merit.com
"Sometimes CPAs get a little nervous or apprehensive because they're fully understanding what the research credit is about, how to claim it. So they're skeptical about how they want to prepare it or present it on return... So having another (party who) specializes in research credit services is very helpful because we're able to help the CPAs help their clients, which is basically the same goal that we all have in mind. Trying to get bigger amounts of credits for our clients, but we work together. So there's really no competition." - Jen Bolton
The finer details of this episode :
- What is an R&D Tax Credit?
- What are the new rules that applies to the R&D Tax Credit?
- How do you know what qualifies for an R&D Tax Credit?
- Advantages of partnering with firms like Leyton, that specialize in R&D Tax Credit
Episode resources
- Summit CPA website - www.summitcpa.net
- Email us with questions - tax@summitcpa.net
- Leyton website - www.leyton.com
"And that's what financial planning is all about. (And) My strategy is little bit here, little bit there, you know, if, if everyone just had a strategy to - say, 'I'm going to eliminate a hundred thousand dollars of taxes', everyone would do it. Now, It's just taking little strategies and piecing them together to build wealth and save tax."- Dave Danic
The finer details of this episode :
- What is the BackDoor Roth IRA?
- How does this impact our taxes?
- What should you do to make the most of the BackDoor Roth IRA?
Episode resources
- Summit CPA website - www.summitcpa.net
- Email us with questions - tax@summitcpa.net
" What we're learning through this whole process is that using the tax code to impact programs that Congress wants is the easiest way to do it for them. For your friendly tax accountant, it's crazy because there's not a lot of consistency, but it certainly makes our lives more interesting."- Dave Danic
The finer details of this episode :
- What is the Infrastructure Law?
- How does this newly passed law impact our taxes?
- What should expect in the years to come in terms of cryptocurrency under this law?
- What is the Build Back Better bill?
- How can we plan around this?
Episode resources
- Summit CPA website - www.summitcpa.net
- Email us with questions - tax@summitcpa.net
"We're a CPA firm and we still have to look at this stuff, as we were talking about our retreat - 'How does our retreat fit within the tax law?' We'll have to deliberate internally to see how we want to treat some of these items." - Dave Danic
The finer details of this episode :
- Getting to know Dave Danic and Tom Wadelton
- Learning about the objective of the Cleared Diagnostic Tax CPA Podcast
- Understanding the new tax laws on meals and entertainment deductions
- Defining what can be considered meals and entertainment deductions
- Defining terms and sharing examples
Episode resources
- Summit CPA website - www.summitcpa.net
- Email us with questions - tax@summitcpa.net