Tax Slang: Recent Episodes
Nicholas Hammernik
Unfiltered, Easy to understand, money education.Learn about ways to keep more of your money in your pocket. This is the podcast that will teach you all of the financial information that you need for the real world. This is the stuff they should be teaching you in school!
The 2020 tax season is FINALLY over! Let's recap some of the most common questions that we received over the past few months. We also provide updates on some new tax credits to be prepared of for 2021.
We are in the midst of tax season over at Hammernik Tax & Accounting. The craziness and long hours have begun. However, I wanted to jump in a provide some useful information on some common occurrences that we have noticed. I also discuss the uncertainty of the taxation for 2020 Unemployments benefits and what it means for filing your tax return. I also provide tax saving tips to save those that are paid by the State to care for their disabled children and to any Army Reserves that were placed into duty by the National Guard in the State of Wisconsin.
After a two week absence, Nick is back talking about your money. We give you the top 10 questions to ask yourself before filing your 2020 tax return....Letterman stye! We also touch on the craziness that is the Game Stop stock explosion....Wallstreet vs Redditt. How did it all happen? What are the after effects of selling stock if you are new to the game.
In the first episode of 2021, we talk about some big things in the news. Bitcoin has rocketed to almost double it's value over the past month and a lot of new faces are deciding to invest in it and other cryptocurrencies. Do you know how Bitcoin is taxed? We lay it out for you. The Barstool Fund has raised $21,7M for small businesses so far. Aaron Rodgers donated $500K last night and put out a call of action to raise more money, but also to make small business owners aware that this money is available. And finally, is it time to prepare for the new Biden Tax? Tax law changes could happen sooner than you think.
The “rescue package” has arrived. The COVID Relief bill is a whopping 5,593 pages long. I know you don’t want to sit and read through that novel, so I am here to summarize, in plain English, how this bill is going to effect your taxes.
We finally get some clarity on the taxation of the PPP loan...it's a Christmas miracle. A breakdown of the individual stimulus payments, as well as a PPP second draw!
The Greek Freek, Giannis Antetokounmpo, just signed the largest contract in NBA history with the Milwaukee Bucks. NBA senior writer Chris Mannix reported on the Dan Patrick Show that Giannis was factoring state income taxes into his decision. We break down the numbers. We also provide you with a tax planning tip to take advantage of before the end of 2020.
In episode 2 Nick dives into some hot topics that apply to business owners. Nick discusess the battle between the IRS and Congress over the taxability of the PPP Loan. We take a look at an episode of the TV show Schitt's Creek to determine what is and what isn't a tax write off. Lastly, in 60 second success we learn about a tax deduction that was derived from The Masters golf tournament.
In the first ever Tax Slang podcast, Nick talks about what the purpose of the Tax Slang movement is all about. Nick addresses the concern that we do not learn enough real world financial skills in our schools. We check in to see what people are tweeting about "tax", and we learn about a tax tip in less than 60 seconds that could save you $300 off of your taxable income this year.