In this 12-minute video podcast, Bob Keebler and Marty Shenkman discuss the Paycheck Protection Program Flexibility Act, passed by both houses of Congress and expected to be signed by the President. Recorded June 4, 2020. This Podcast is sponsored by Leimberg Information Services, Inc. at http://www.leimbergservices.com  Please visit our software, books, and PowerPoint Presentations site at http://www.leimberg.com 

In this 12-minute video podcast, Bob Keebler and Marty Shenkman discuss the Paycheck Protection Program Flexibility Act, passed by both houses of Congress and expected to be signed by the President. Recorded June 4, 2020. This Podcast is sponsored by Leimberg Information Services, Inc. at <a href="http://www.leimbergservices.com" rel="nofollow" target="_blank">http://www.leimbergservices.com</a> Please visit our software, books, and PowerPoint Presentations site at <a href="http://www.leimberg.com" rel="nofollow" target="_blank">http://www.leimberg.com</a>

Video Podcast: Keebler and Shenkman on the PPP Flexibility Act

Bob Keebler

When does the rental of real estate constitute a trade or business for purposes of Code section 199A?  Bob Keebler analyzes Notice 2019-07 in this 10-minute podcast. This Podcast is sponsored by Leimberg Information Services, Inc. at http://www.leimbergservices.com  Please visit our software, books, and PowerPoint Presentations site at http://www.leimberg.com 

When does the rental of real estate constitute a trade or business for purposes of Code section 199A? Bob Keebler analyzes Notice 2019-07 in this 10-minute podcast. This Podcast is sponsored by Leimberg Information Services, Inc. at <a href="http://www.leimbergservices.com" rel="nofollow" target="_blank">http://www.leimbergservices.com</a> Please visit our software, books, and PowerPoint Presentations site at <a href="http://www.leimberg.com" rel="nofollow" target="_blank">http://www.leimberg.com</a>

Bob Keebler on Notice 2019-07

In this 14-minute podcast, Bob Keebler provides an overview of the proposed regulations implementing the income tax deduction for qualified business income.  This Podcast is sponsored by Leimberg Information Services, Inc. at http://www.leimbergservices.com  Please visit our software, books, and PowerPoint Presentations site at http://www.leimberg.com 

In this 14-minute podcast, Bob Keebler provides an overview of the proposed regulations implementing the income tax deduction for qualified business income. This Podcast is sponsored by Leimberg Information Services, Inc. at <a href="http://www.leimbergservices.com" rel="nofollow" target="_blank">http://www.leimbergservices.com</a> Please visit our software, books, and PowerPoint Presentations site at <a href="http://www.leimberg.com" rel="nofollow" target="_blank">http://www.leimberg.com</a>

Bob Keebler -- Overview of the Section 199A Proposed Regulations

In this 20-minute podcast, Bob Keebler discusses income tax planning for real estate investors under the Tax Cuts and Jobs Act, including the new Code section 199A deduction. This Podcast is sponsored by Leimberg Information Services, Inc. at http://www.leimbergservices.com  Please visit our software, books, and PowerPoint Presentations site at http://www.leimberg.com 

In this 20-minute podcast, Bob Keebler discusses income tax planning for real estate investors under the Tax Cuts and Jobs Act, including the new Code section 199A deduction. This Podcast is sponsored by Leimberg Information Services, Inc. at <a href="http://www.leimbergservices.com" rel="nofollow" target="_blank">http://www.leimbergservices.com</a> Please visit our software, books, and PowerPoint Presentations site at <a href="http://www.leimberg.com" rel="nofollow" target="_blank">http://www.leimberg.com</a>

Tax Planning for Real Estate Under TCJA

Bob Keebler and Jonathan Blattmachr This Podcast is sponsored by Leimberg Information Services, Inc. at http://www.leimbergservices.com  Please visit our software, books, and PowerPoint Presentations site at http://www.leimberg.com 

Bob Keebler and Jonathan Blattmachr This Podcast is sponsored by Leimberg Information Services, Inc. at <a href="http://www.leimbergservices.com" rel="nofollow" target="_blank">http://www.leimbergservices.com</a> Please visit our software, books, and PowerPoint Presentations site at <a href="http://www.leimberg.com" rel="nofollow" target="_blank">http://www.leimberg.com</a>

Tax Reform Under President Trump

In this podcast, Bob Keebler and Todd Angkatavanich discuss the basics of Internal Revenue Code section 2701, including: - How section 2701 relates to the rest of Chapter 14 - Application of the section to a broad scope of transactions - The "vertical slice" rule - Recapitalizations and CCA 201442053 - Planning opportunities.  Recorded August 25, 2015.  This Podcast is sponsored by Leimberg Information Services, Inc. at http://www.leimbergservices.com  Please visit our software, books, and PowerPoint Presentations site at http://www.leimberg.com 

In this podcast, Bob Keebler and Todd Angkatavanich discuss the basics of Internal Revenue Code section 2701, including: - How section 2701 relates to the rest of Chapter 14 - Application of the section to a broad scope of transactions - The "vertical slice" rule - Recapitalizations and CCA 201442053 - Planning opportunities. Recorded August 25, 2015. This Podcast is sponsored by Leimberg Information Services, Inc. at <a href="http://www.leimbergservices.com" rel="nofollow" target="_blank">http://www.leimbergservices.com</a> Please visit our software, books, and PowerPoint Presentations site at <a href="http://www.leimberg.com" rel="nofollow" target="_blank">http://www.leimberg.com</a>

Keebler and Angkatavanich on Section 2701 Basics

Estate Planning after the American Taxpayer Relief Act of 2012 Video Presentation. This Podcast is sponsored by Leimberg Information Services, Inc. at http://www.leimbergservices.com  Please visit our software, books, and PowerPoint Presentations site at http://www.leimberg.com 

Estate Planning after the American Taxpayer Relief Act of 2012 Video Presentation. This Podcast is sponsored by Leimberg Information Services, Inc. at <a href="http://www.leimbergservices.com" rel="nofollow" target="_blank">http://www.leimbergservices.com</a> Please visit our software, books, and PowerPoint Presentations site at <a href="http://www.leimberg.com" rel="nofollow" target="_blank">http://www.leimberg.com</a>

American Taxpayer Relief Act of 2012

Bob Keebler and Marty Shenkman discuss planning between now and December 31st.  The time is crucial and the opportunity is not to be missed.    Marty has created a postcard to inform clients of 2012 planning opportunities.   A company called "Printing for Less" - which does Marty's newsletter - will customize and mail it for any practitioner at a 20% discount off printing costs + postage. (Marty gets no payment from this).   You can use his postcard primarily with no royalties (but a nice note and perhaps a gift to charity in Marty's name is in order).  To learn more, just go to http://www.printingforless.com/shenkman  and you can quickly handle the entire process.   LISI has posted Marty's sample postcard and a flyer that explains it.  You can find it by loging into LISI and looking under ActualText.   This Podcast is sponsored by Leimberg Information Services, Inc. at http://www.leimbergservices.com  Please visit our software, books, and PowerPoint Presentations site at http://www.leimberg.com 

Bob Keebler and Marty Shenkman discuss planning between now and December 31st. The time is crucial and the opportunity is not to be missed. Marty has created a postcard to inform clients of 2012 planning opportunities. A company called "Printing for Less" - which does Marty's newsletter - will customize and mail it for any practitioner at a 20% discount off printing costs + postage. (Marty gets no payment from this). You can use his postcard primarily with no royalties (but a nice note and perhaps a gift to charity in Marty's name is in order). To learn more, just go to <a href="http://www.printingforless.com/shenkman" rel="nofollow" target="_blank">http://www.printingforless.com/shenkman</a> and you can quickly handle the entire process. LISI has posted Marty's sample postcard and a flyer that explains it. You can find it by loging into LISI and looking under ActualText. This Podcast is sponsored by Leimberg Information Services, Inc. at <a href="http://www.leimbergservices.com" rel="nofollow" target="_blank">http://www.leimbergservices.com</a> Please visit our software, books, and PowerPoint Presentations site at <a href="http://www.leimberg.com" rel="nofollow" target="_blank">http://www.leimberg.com</a>

Keebler and Shenkman: Planning 

Bob interviews attorney Michael Goller who discusses the new Covered Opinion Proposed Regulations.  This is a very important development focusing on Section 10.37 - dealing with tax opinions and how attorneys must comply.  Also stressed in this interview is section 10.35, which requires competence and 10.36 dealing with management oversight proceedures and standards. This Podcast is sponsored by Leimberg Information Services, Inc. at http://www.leimbergservices.com  Please visit our software, books, and PowerPoint Presentations site at http://www.leimberg.com 

Bob interviews attorney Michael Goller who discusses the new Covered Opinion Proposed Regulations. This is a very important development focusing on Section 10.37 - dealing with tax opinions and how attorneys must comply. Also stressed in this interview is section 10.35, which requires competence and 10.36 dealing with management oversight proceedures and standards. This Podcast is sponsored by Leimberg Information Services, Inc. at <a href="http://www.leimbergservices.com" rel="nofollow" target="_blank">http://www.leimbergservices.com</a> Please visit our software, books, and PowerPoint Presentations site at <a href="http://www.leimberg.com" rel="nofollow" target="_blank">http://www.leimberg.com</a>

Keebler - Covered Opinion Rules

Bob speaks with Mike Gollar, a tax attorney about Taxpayer Penalties and how to avoid them. This Podcast is sponsored by Leimberg Information Services, Inc. at http://www.leimbergservices.com  Please visit our software, books, and PowerPoint Presentations site at http://www.leimberg.com 

Bob speaks with Mike Gollar, a tax attorney about Taxpayer Penalties and how to avoid them. This Podcast is sponsored by Leimberg Information Services, Inc. at <a href="http://www.leimbergservices.com" rel="nofollow" target="_blank">http://www.leimbergservices.com</a> Please visit our software, books, and PowerPoint Presentations site at <a href="http://www.leimberg.com" rel="nofollow" target="_blank">http://www.leimberg.com</a>

Keebler -  Taxpayer Penalties

Covers C (regular) corporate taxation and planning including taxation of shareholders

Corporate Tax Planning

This podcast deals with three cases that pertain to attempts to have the court deal with the substance of a transaction as opposed to its form. We'll discuss why the IRS can succeed at this, while taxpayers have an uphill fight in most cases.  This week's developments in the area of extensions for 2006 and the IRS's losing battle on the excise tax on flat rate per minute long distance and the excise tax on toll calls are also discussed.  The materials can be downloaded by clicking here.  This Podcast is sponsored by Leimberg Information Services, Inc. at http://www.leimbergservices.com  Please visit our software, books, and PowerPoint Presentations site at http://www.leimberg.com 

This podcast deals with three cases that pertain to attempts to have the court deal with the substance of a transaction as opposed to its form. We'll discuss why the IRS can succeed at this, while taxpayers have an uphill fight in most cases. This week's developments in the area of extensions for 2006 and the IRS's losing battle on the excise tax on flat rate per minute long distance and the excise tax on toll calls are also discussed. The materials can be downloaded by clicking <a href="http://edzollars.com/Substance_Over_Form.pdf" rel="nofollow" target="_blank">here</a>. This Podcast is sponsored by Leimberg Information Services, Inc. at <a href="http://www.leimbergservices.com" rel="nofollow" target="_blank">http://www.leimbergservices.com</a> Please visit our software, books, and PowerPoint Presentations site at <a href="http://www.leimberg.com" rel="nofollow" target="_blank">http://www.leimberg.com</a>

Substance Over Form:  Who Can Assert It and When It Can Be Asserted

Ed Zollars

This PodCast provides coverage of FASB's Interpretation 46 that deals with uncertain tax positions.  The new interpretation will create some real problems for CPAs, especially those who both handle tax matters and have any sort of attest relationship with the client (including compilations, reviews and audits) that deals with GAAP statements.The materials can be downloaded from http://www.edzollars.com/2006-07-22_FASB_Podcast.pdf   , though the actual FASB interpretation needs to be downloaded from their site ( http://www.fasb.org/st/#int48  ) due to copyright issues-and you will want to download it.  This Podcast is sponsored by Leimberg Information Services, Inc. at http://www.leimbergservices.com  Please visit our software, books, and PowerPoint Presentations site at http://www.leimberg.com 

This PodCast provides coverage of FASB's Interpretation 46 that deals with uncertain tax positions.  The new interpretation will create some real problems for CPAs, especially those who both handle tax matters and have any sort of attest relationship with the client (including compilations, reviews and audits) that deals with GAAP statements. The materials can be downloaded from <a href="http://www.edzollars.com/2006-07-22_FASB_Podcast.pdf" rel="nofollow" target="_blank">http://www.edzollars.com/2006-07-22_FASB_Podcast.pdf</a>   , though the actual FASB interpretation needs to be downloaded from their site ( <a href="http://www.fasb.org/st/#int48" rel="nofollow" target="_blank">http://www.fasb.org/st/#int48</a>  ) due to copyright issues-and you will want to download it. This Podcast is sponsored by Leimberg Information Services, Inc. at <a href="http://www.leimbergservices.com" rel="nofollow" target="_blank">http://www.leimbergservices.com</a> Please visit our software, books, and PowerPoint Presentations site at <a href="http://www.leimberg.com" rel="nofollow" target="_blank">http://www.leimberg.com</a>

The Tax GAAP-FASB Speaks on Tax Provisions for Financial Reporting - Ed Zollars

This PodCast examines a provision buried in the Pension Protection Act of 2006 that involves "employer" owned life insurnace.  The provision in question renders the death benefit taxable to the extent it is greater than the premiums paid unless the policy both falls into certain excepted categories and the policy owner takes specific steps before the policy is issued to assure that the insured both gets proper notice and gives a proper consent.The materials are found at http://edzollars.com/2006-08-12_Life_Insurance.pdf .This Podcast is sponsored by Leimberg Information Services, Inc. at http://www.leimbergservices.com  Please visit our software, books, and PowerPoint Presentations site at http://www.leimberg.com 

This PodCast examines a provision buried in the Pension Protection Act of 2006 that involves "employer" owned life insurnace.  The provision in question renders the death benefit taxable to the extent it is greater than the premiums paid unless the policy both falls into certain excepted categories and the policy owner takes specific steps before the policy is issued to assure that the insured both gets proper notice and gives a proper consent. The materials are found at <a href="http://edzollars.com/2006-08-12_Life_Insurance.pdf" rel="nofollow" target="_blank">http://edzollars.com/2006-08-12_Life_Insurance.pdf</a> . This Podcast is sponsored by Leimberg Information Services, Inc. at <a href="http://www.leimbergservices.com" rel="nofollow" target="_blank">http://www.leimbergservices.com</a> Please visit our software, books, and PowerPoint Presentations site at <a href="http://www.leimberg.com" rel="nofollow" target="_blank">http://www.leimberg.com</a>

Congress Plants a Landmine-Company Owned Life Insurance - Ed Zollars

This week's podcast pertains to the potential overuse of Circular 230 disclaimers.  It arose from a discussion that began on the California Society of CPAs TaxTalk group on Yahoo about the widespread use of Circular 230 disclaimers. There seems to be an unfortunately false belief among many in the professions involved that a standard disclaimer eliminates any and all issues related to the revisions last summer to Circular 230. The podcast discusses both the issues outside of Circular 230 that can arise from the indiscriminate use of this disclaimer, as well as those cases under the covered opinion rules when the disclaimer does not absolve the professional from having to issue a covered opinion. The materials can be found at this link: http://edzollars.com/2006-03-03_Disclaimers.pdf We also discuss briefly some technology matters, including a quick discussion of why it may be useful to listen to Steve Gibson's Security Now podcast. To check out what's available go to: http://grc.com/securitynow.htm If you ever use a wireless hotspot or plug into a hotel network when on the road, this week's broadcast, while a bit dense, also contains some very important information about risks you may not be aware of (the "man in the middle" attack to steal your passwords, or the simple sniffing allowed if you aren't wired directly to a switch--that is, the network uses either wireless or a simple hub). This Podcast is sponsored by Leimberg Information Services, Inc. at http://www.leimbergservices.com  Please visit our software, books, and PowerPoint Presentations site at http://www.leimberg.com 

This week's podcast pertains to the potential overuse of Circular 230 disclaimers.  It arose from a discussion that began on the California Society of CPAs TaxTalk group on Yahoo about the widespread use of Circular 230 disclaimers. There seems to be an unfortunately false belief among many in the professions involved that a standard disclaimer eliminates any and all issues related to the revisions last summer to Circular 230. The podcast discusses both the issues outside of Circular 230 that can arise from the indiscriminate use of this disclaimer, as well as those cases under the covered opinion rules when the disclaimer does not absolve the professional from having to issue a covered opinion. The materials can be found at this link: <a href="http://edzollars.com/2006-03-03_Disclaimers.pdf" rel="nofollow" target="_blank">http://edzollars.com/2006-03-03_Disclaimers.pdf</a> We also discuss briefly some technology matters, including a quick discussion of why it may be useful to listen to Steve Gibson's Security Now podcast. To check out what's available go to: <a href="http://grc.com/securitynow.htm" rel="nofollow" target="_blank">http://grc.com/securitynow.htm</a> If you ever use a wireless hotspot or plug into a hotel network when on the road, this week's broadcast, while a bit dense, also contains some very important information about risks you may not be aware of (the "man in the middle" attack to steal your passwords, or the simple sniffing allowed if you aren't wired directly to a switch--that is, the network uses either wireless or a simple hub). This Podcast is sponsored by Leimberg Information Services, Inc. at <a href="http://www.leimbergservices.com" rel="nofollow" target="_blank">http://www.leimbergservices.com</a> Please visit our software, books, and PowerPoint Presentations site at <a href="http://www.leimberg.com" rel="nofollow" target="_blank">http://www.leimberg.com</a>

The Trouble With Disclaimers-Circular 230 Revisited - Ed Zollars

This PodCast uses the case of Benson v. Commissioner, TC Memorandum 2006-55, to examine the issue of what constitutes adequate disclosure under Section 6501(e)(1)(A)(ii) for purposes of avoiding the otherwise mechanical application of an extended six year statute on substantial underpayments.  In this case, which the taxpayer ends up losing, the Court considers to what extent disclosures on other returns can "make up" for items not disclosed directly on the individual return.The text file for this podcast can be downloaded from http://www.edzollars.com/2006-04-08_Adequate_Disclosure.pdf.This Podcast is sponsored by Leimberg Information Services, Inc. at http://www.leimbergservices.com  Please visit our software, books, and PowerPoint Presentations site at http://www.leimberg.com 

This PodCast uses the case of Benson v. Commissioner, TC Memorandum 2006-55, to examine the issue of what constitutes adequate disclosure under Section 6501(e)(1)(A)(ii) for purposes of avoiding the otherwise mechanical application of an extended six year statute on substantial underpayments.  In this case, which the taxpayer ends up losing, the Court considers to what extent disclosures on other returns can "make up" for items not disclosed directly on the individual return. The text file for this podcast can be downloaded from <a href="http://www.edzollars.com/2006-04-08_Adequate_Disclosure.pdf" rel="nofollow" target="_blank">http://www.edzollars.com/2006-04-08_Adequate_Disclosure.pdf</a>. This Podcast is sponsored by Leimberg Information Services, Inc. at <a href="http://www.leimbergservices.com" rel="nofollow" target="_blank">http://www.leimbergservices.com</a> Please visit our software, books, and PowerPoint Presentations site at <a href="http://www.leimberg.com" rel="nofollow" target="_blank">http://www.leimberg.com</a>

How Much to Tell--Adequate Disclosure and Section 6501(e) - Ed Zollars

This Podcast is about loans, S Corporations, and reality engineering. Shareholder debt to S corporations has proven to be a minefield for shareholders and their advisers, and the taxpayer and their adviser in the case of Ruckriegel v. Commissioner managed to step on a shareholder debt/basis mine twice in two consecutive IRS exams.  In this case, the shareholders attempted to argue that loans from a partnership they controlled were actually loans to them from the partnership, followed by loans to the corporation.Or, to put it more correctly, their CPA attempted to argue that.  One of the problems in this case, beyond the simple fact that the form of the transaction (which the taxpayers had control over) did not agree with what they were arguing was the true substance, was the fact that neither the taxpayers nor their inside accountant were treating these loans as if they had traveled that indirect route.  The case points up the dangers of attempting to "after the fact" correct client missteps--and especially continuing to do it for multiple years.The materials for this podcast are found at http://edzollars.com/2006-04-29_Debt.pdf.This Podcast is sponsored by Leimberg Information Services, Inc. at http://www.leimbergservices.com  Please visit our software, books, and PowerPoint Presentations site at http://www.leimberg.com 

This Podcast is about loans, S Corporations, and reality engineering. Shareholder debt to S corporations has proven to be a minefield for shareholders and their advisers, and the taxpayer and their adviser in the case of Ruckriegel v. Commissioner managed to step on a shareholder debt/basis mine twice in two consecutive IRS exams.  In this case, the shareholders attempted to argue that loans from a partnership they controlled were actually loans to them from the partnership, followed by loans to the corporation. Or, to put it more correctly, their CPA attempted to argue that.  One of the problems in this case, beyond the simple fact that the form of the transaction (which the taxpayers had control over) did not agree with what they were arguing was the true substance, was the fact that neither the taxpayers nor their inside accountant were treating these loans as if they had traveled that indirect route.  The case points up the dangers of attempting to "after the fact" correct client missteps--and especially continuing to do it for multiple years. The materials for this podcast are found at <a href="http://edzollars.com/2006-04-29_Debt.pdf" rel="nofollow" target="_blank">http://edzollars.com/2006-04-29_Debt.pdf</a>. This Podcast is sponsored by Leimberg Information Services, Inc. at <a href="http://www.leimbergservices.com" rel="nofollow" target="_blank">http://www.leimbergservices.com</a> Please visit our software, books, and PowerPoint Presentations site at <a href="http://www.leimberg.com" rel="nofollow" target="_blank">http://www.leimberg.com</a>

Whose Debt Is It Anyway? S Corporations and Loans from Related Entities - Ed Zollars

This Podcast focuses on the issues and limitations involving the Cohan rule and its use in tax compliance and representation work.  The materials can be downloaded from http://edzollars.com/2006-03-25_Cohan.pdf.  This Podcast is sponsored by Leimberg Information Services, Inc. at http://www.leimbergservices.com  Please visit our software, books, and PowerPoint Presentations site at http://www.leimberg.com 

This Podcast focuses on the issues and limitations involving the Cohan rule and its use in tax compliance and representation work. The materials can be downloaded from <a href="http://edzollars.com/2006-03-25_Cohan.pdf" rel="nofollow" target="_blank">http://edzollars.com/2006-03-25_Cohan.pdf</a>. This Podcast is sponsored by Leimberg Information Services, Inc. at <a href="http://www.leimbergservices.com" rel="nofollow" target="_blank">http://www.leimbergservices.com</a> Please visit our software, books, and PowerPoint Presentations site at <a href="http://www.leimberg.com" rel="nofollow" target="_blank">http://www.leimberg.com</a>

I'm a Yankee Doodle Dandy-Just Not a Good Recordkeeper..- Ed Zollars

This PodCast covers issues involving payroll tax deposits, including the IRS and Social Security Administration recent caution about the use of payroll services to deposit taxes.  This week we look at a case that invovled the embezzlement of payroll tax deposits by a payroll service, where the IRS successfully argued that the employer still was liable for the unpaid taxes even though they had believed the payroll service had deposited the taxes  As well, we look at a case involving a shareholder who stumbled into a full trust fund penalty when he attempted to take back funds he had advanced the failing corporation when he discovered there were unpaid payroll taxes.  The materials for the podcast can be downloaded at http://edzollars.com/2006-03-18_Payroll.pdf.  This Podcast is sponsored by Leimberg Information Services, Inc. at http://www.leimbergservices.com  Please visit our software, books, and PowerPoint Presentations site at http://www.leimberg.com 

This PodCast covers issues involving payroll tax deposits, including the IRS and Social Security Administration recent caution about the use of payroll services to deposit taxes. This week we look at a case that invovled the embezzlement of payroll tax deposits by a payroll service, where the IRS successfully argued that the employer still was liable for the unpaid taxes even though they had believed the payroll service had deposited the taxes As well, we look at a case involving a shareholder who stumbled into a full trust fund penalty when he attempted to take back funds he had advanced the failing corporation when he discovered there were unpaid payroll taxes. The materials for the podcast can be downloaded at <a href="http://edzollars.com/2006-03-18_Payroll.pdf" rel="nofollow" target="_blank">http://edzollars.com/2006-03-18_Payroll.pdf</a>. This Podcast is sponsored by Leimberg Information Services, Inc. at <a href="http://www.leimbergservices.com" rel="nofollow" target="_blank">http://www.leimbergservices.com</a> Please visit our software, books, and PowerPoint Presentations site at <a href="http://www.leimberg.com" rel="nofollow" target="_blank">http://www.leimberg.com</a>

In God We Trust, All Others Must Deposit With Us-Payroll Tax Trust  Funds - Ed Zollars

This PodCast is about the tax implications of a prepaid purchase discount that may need to be refunded if purchase goals are not met.  The issue has resurfaced as the Ninth Circuit Court of Appeals reversed the Tax Court in the case of Westpac Pacific Foods v. Commissioner.  The Ninth Circuit's views on this topic differ both from those of the Tax Court and the IRS, each of which has it own views on this topic.In the podcast, the question to be addressed is what do we tell our clients who are faced with this issue?  The materials for this podcast can be downloaded from http://edzollars.com/2006-07-08_Westpac_Advances.pdf .This Podcast is sponsored by Leimberg Information Services, Inc. at http://www.leimbergservices.com  Please visit our software, books, and PowerPoint Presentations site at http://www.leimberg.com 

This PodCast is about the tax implications of a prepaid purchase discount that may need to be refunded if purchase goals are not met.  The issue has resurfaced as the Ninth Circuit Court of Appeals reversed the Tax Court in the case of Westpac Pacific Foods v. Commissioner.  The Ninth Circuit's views on this topic differ both from those of the Tax Court and the IRS, each of which has it own views on this topic. In the podcast, the question to be addressed is what do we tell our clients who are faced with this issue?  The materials for this podcast can be downloaded from <a href="http://edzollars.com/2006-07-08_Westpac_Advances.pdf" rel="nofollow" target="_blank">http://edzollars.com/2006-07-08_Westpac_Advances.pdf</a> . This Podcast is sponsored by Leimberg Information Services, Inc. at <a href="http://www.leimbergservices.com" rel="nofollow" target="_blank">http://www.leimbergservices.com</a> Please visit our software, books, and PowerPoint Presentations site at <a href="http://www.leimberg.com" rel="nofollow" target="_blank">http://www.leimberg.com</a>

That's Not Income, That's a Discount - The Ninth Circuit Corrects the Tax Court - Ed Zollars

This Podcast is about the importance of following proper form in corporate debt situations.  A few weeks ago (back in April) we looked at the case of Ruckreigel where a taxpayer lost an IRS challenge on whether a debt was truly from the shareholders to the corporation due to a failure to follow the necessary formalities.  This week, the taxpayers strike back with a taxpayer victory in the case of Miller v. Commissioner (TC Memo 2006-125) where the IRS fails in its attempt to reclassify debt that followed the proper form but which the IRS attempted to claim was really debt from the bank to the corporation.The taxpayer achieved victory on this point and the issue of whether the taxpayer was truly at risk as defined in Section 465, even though when all was said and done the taxpayer got out of all liability as the debt was actually paid by other investors who had guaranteed the entire loan structure.  This is an interesting case in showing the extreme importance of following proper form because, from an economic standpoint, the taxpayers in Ruckreigel seem to have much real exposure to potential loss than Mr. Miller actually ended up having, but he got his deduction.The materials can be downloaded from http://edzollars.com/2006-06-23_S_Debt.pdf. This Podcast is sponsored by Leimberg Information Services, Inc. at http://www.leimbergservices.com  Please visit our software, books, and PowerPoint Presentations site at http://www.leimberg.com 

This Podcast is about the importance of following proper form in corporate debt situations.  A few weeks ago (back in April) we looked at the case of Ruckreigel where a taxpayer lost an IRS challenge on whether a debt was truly from the shareholders to the corporation due to a failure to follow the necessary formalities.  This week, the taxpayers strike back with a taxpayer victory in the case of Miller v. Commissioner (TC Memo 2006-125) where the IRS fails in its attempt to reclassify debt that followed the proper form but which the IRS attempted to claim was really debt from the bank to the corporation. The taxpayer achieved victory on this point and the issue of whether the taxpayer was truly at risk as defined in Section 465, even though when all was said and done the taxpayer got out of all liability as the debt was actually paid by other investors who had guaranteed the entire loan structure.  This is an interesting case in showing the extreme importance of following proper form because, from an economic standpoint, the taxpayers in Ruckreigel seem to have much real exposure to potential loss than Mr. Miller actually ended up having, but he got his deduction. The materials can be downloaded from <a href="http://edzollars.com/2006-06-23_S_Debt.pdf" rel="nofollow" target="_blank">http://edzollars.com/2006-06-23_S_Debt.pdf</a>. This Podcast is sponsored by Leimberg Information Services, Inc. at <a href="http://www.leimbergservices.com" rel="nofollow" target="_blank">http://www.leimbergservices.com</a> Please visit our software, books, and PowerPoint Presentations site at <a href="http://www.leimberg.com" rel="nofollow" target="_blank">http://www.leimberg.com</a>

Is it Really My Loan? S Corporation Debt Once Again - Ed Zollars

This Podcast considers technical security issues that arise when you are traveling and take your laptop with you to "stay connected" with your office and clients.  There are a number of risks that have been discussed in recent weeks on Steve Gibson and Leo Laporte's Security Now podcast that I wanted to discuss in the context of a tax professional.We look at how your system may be compromised and your data exposed rather easily by any other machine on a network you are connected to (incluidng a hotel high speed network or a wifi hotspot at your local coffee shop).  And by this I mean a machine of any other guest or patron of the shop, or just someone in distance of the hotspot.   As well, we discuss why wifi encryption does not address this problem, and why additional steps are necessary.  We also discuss the steps you can take to make your transmissions truly secure.The materials for this podcast can be downloaded from http://edzollars.com/2006-05-20_Secure_Data.pdf.This Podcast is sponsored by Leimberg Information Services, Inc. at http://www.leimbergservices.com  Please visit our software, books, and PowerPoint Presentations site at http://www.leimberg.com 

This Podcast considers technical security issues that arise when you are traveling and take your laptop with you to "stay connected" with your office and clients.  There are a number of risks that have been discussed in recent weeks on Steve Gibson and Leo Laporte's <a href="http://www.grc.com/securitynow.htm" rel="nofollow" target="_blank">Security Now</a> podcast that I wanted to discuss in the context of a tax professional. We look at how your system may be compromised and your data exposed rather easily by any other machine on a network you are connected to (incluidng a hotel high speed network or a wifi hotspot at your local coffee shop).  And by this I mean a machine of any other guest or patron of the shop, or just someone in distance of the hotspot.   As well, we discuss why wifi encryption does not address this problem, and why additional steps are necessary.  We also discuss the steps you can take to make your transmissions truly secure. The materials for this podcast can be downloaded from <a href="http://" rel="nofollow" target="_blank">http://edzollars.com/2006-05-20_Secure_Data.pdf</a>. This Podcast is sponsored by Leimberg Information Services, Inc. at <a href="http://www.leimbergservices.com" rel="nofollow" target="_blank">http://www.leimbergservices.com</a> Please visit our software, books, and PowerPoint Presentations site at <a href="http://www.leimberg.com" rel="nofollow" target="_blank">http://www.leimberg.com</a>

Indecent Exposure-Internet Access Security Issues Away From the Office - Ed Zollars

This PodCast examines the definition of a "qualified personal service corporation" and, perhaps more importantly, distinguishes a PSC from what is not. The podcast looks at the recent case of Ron Lykins, Inc. v. Commissioner, TC Memorandum 2006-35, where a corporation was held not to be a QPSC, and so could benefit from the lower tax brackets available to non-PSCs. Materials for the podcast can be downloaded from http://www.edzollars.com/2006-03-10_Getting_Personal.pdf . This Podcast is sponsored by Leimberg Information Services, Inc. at http://www.leimbergservices.com  Please visit our software, books, and PowerPoint Presentations site at http://www.leimberg.com 

This PodCast examines the definition of a "qualified personal service corporation" and, perhaps more importantly, distinguishes a PSC from what is not. The podcast looks at the recent case of Ron Lykins, Inc. v. Commissioner, TC Memorandum 2006-35, where a corporation was held not to be a QPSC, and so could benefit from the lower tax brackets available to non-PSCs. Materials for the podcast can be downloaded from <a href="http://www.edzollars.com/2006-03-10_Getting_Personal.pdf" rel="nofollow" target="_blank">http://www.edzollars.com/2006-03-10_Getting_Personal.pdf </a>. This Podcast is sponsored by Leimberg Information Services, Inc. at <a href="http://www.leimbergservices.com" rel="nofollow" target="_blank">http://www.leimbergservices.com</a> Please visit our software, books, and PowerPoint Presentations site at <a href="http://www.leimberg.com" rel="nofollow" target="_blank">http://www.leimberg.com</a>

Don't Get Personal (Service Corporation, That Is...) Ed Zollars

This Podcast covers TIPRA , the Tax Increase Prevention Act of 2005.  We finally have a 2005 extender bill, albiet missing a few extenders and with a few surprises (some good, some not so great).  The President signed the bill into law this week, so it's time to look at the details that were in the bill.The materials for this podcast can be found at http://edzollars.com/2006-05-20_TIPRA.pdf.This Podcast is sponsored by Leimberg Information Services, Inc. at http://www.leimbergservices.com  Please visit our software, books, and PowerPoint Presentations site at http://www.leimberg.com 

This Podcast covers TIPRA , the Tax Increase Prevention Act of 2005.  We finally have a 2005 extender bill, albiet missing a few extenders and with a few surprises (some good, some not so great).  The President signed the bill into law this week, so it's time to look at the details that were in the bill. The materials for this podcast can be found at <a href="http://edzollars.com/2006-05-20_TIPRA.pdf" rel="nofollow" target="_blank">http://edzollars.com/2006-05-20_TIPRA.pdf</a>. This Podcast is sponsored by Leimberg Information Services, Inc. at <a href="http://www.leimbergservices.com" rel="nofollow" target="_blank">http://www.leimbergservices.com</a> Please visit our software, books, and PowerPoint Presentations site at <a href="http://www.leimberg.com" rel="nofollow" target="_blank">http://www.leimberg.com</a>

Tax Increase Prevention Act of 2005-The Highlights and Lowlights - Ed Zollars

This podcast discusses simplified employee pensions, including the basic rules that apply to them, and the gotchas that clients tend to run into.  The materials are available from this link.  This Podcast is sponsored by Leimberg Information Services, Inc. at http://www.leimbergservices.com  Please visit our software, books, and PowerPoint Presentations site at http://www.leimberg.com 

This podcast discusses simplified employee pensions, including the basic rules that apply to them, and the gotchas that clients tend to run into. The materials are available from <a href="http://www.edzollars.com/2006-01-21_SEP_Plans.pdf" rel="nofollow" target="_blank">this link</a>. This Podcast is sponsored by Leimberg Information Services, Inc. at <a href="http://www.leimbergservices.com" rel="nofollow" target="_blank">http://www.leimbergservices.com</a> Please visit our software, books, and PowerPoint Presentations site at <a href="http://www.leimberg.com" rel="nofollow" target="_blank">http://www.leimberg.com</a>

The Post December 31 Retirement Plan--Simplified Employee Pensions

This Podcast is about construction costs.  We take a look at the regulations under Section 199 as they define construction found at Regulation 1.199-3(m).  These definitions are key for anyone who works with clients in construction related entities.  The materials for this podcast can be downloaded at http://edzollars.com/2006-07-01_Construction.pdf . This Podcast is sponsored by Leimberg Information Services, Inc. at http://www.leimbergservices.com  Please visit our software, books, and PowerPoint Presentations site at http://www.leimberg.com 

This Podcast is about construction costs.  We take a look at the regulations under Section 199 as they define construction found at Regulation 1.199-3(m).  These definitions are key for anyone who works with clients in construction related entities.  The materials for this podcast can be downloaded at <a href="http://edzollars.com/2006-07-01_Construction.pdf" rel="nofollow" target="_blank">http://edzollars.com/2006-07-01_Construction.pdf</a> . This Podcast is sponsored by Leimberg Information Services, Inc. at <a href="http://www.leimbergservices.com" rel="nofollow" target="_blank">http://www.leimbergservices.com</a> Please visit our software, books, and PowerPoint Presentations site at <a href="http://www.leimberg.com" rel="nofollow" target="_blank">http://www.leimberg.com</a>

What Did They Mean? Section 199 and Construction - Ed Zollars

This PodCast concerns reasonable cause for late filing.  The logic of the application of the IRC to specific situations at times seems to defy common logic. Here, we look at a specific example of such.  In this case, the Tax Court decided that a reasonable cause for late filing that allowed a taxpayer to avoid the late filing penalty was that the court believed the taxpayer in reality had mailed the return on time, even if as a matter of law the return was late filed.  This is an extension of the issue discussed in the October 2005 podcast on proving timely filing.The case in question is Gregorian v. Commissioner, TC Summary 2006-99.The materials can be downloaded from http://edzollars.com/2006-07-15_Late_Filing.pdf .Apologies for some of the audio glitches.  For various reasons, this week I used my Windows laptop to record the podcast--and, as should be clear, the machine proved "suboptimal" even though it used the same tools (hardware and software) as the old Mac iBook I normally use.  We'll be back on the iBook in next week's podcast.This Podcast is sponsored by Leimberg Information Services, Inc. at http://www.leimbergservices.com  Please visit our software, books, and PowerPoint Presentations site at http://www.leimberg.com 

This PodCast concerns reasonable cause for late filing.  The logic of the application of the IRC to specific situations at times seems to defy common logic. Here, we look at a specific example of such.  In this case, the Tax Court decided that a reasonable cause for late filing that allowed a taxpayer to avoid the late filing penalty was that the court believed the taxpayer in reality had mailed the return on time, even if as a matter of law the return was late filed.  This is an extension of the issue discussed in the October 2005 podcast on proving timely filing. The case in question is Gregorian v. Commissioner, TC Summary 2006-99. The materials can be downloaded from <a href="http://edzollars.com/2006-07-15_Late_Filing.pdf" rel="nofollow" target="_blank">http://edzollars.com/2006-07-15_Late_Filing.pdf</a> . Apologies for some of the audio glitches.  For various reasons, this week I used my Windows laptop to record the podcast--and, as should be clear, the machine proved "suboptimal" even though it used the same tools (hardware and software) as the old Mac iBook I normally use.  We'll be back on the iBook in next week's podcast. This Podcast is sponsored by Leimberg Information Services, Inc. at <a href="http://www.leimbergservices.com" rel="nofollow" target="_blank">http://www.leimbergservices.com</a> Please visit our software, books, and PowerPoint Presentations site at <a href="http://www.leimberg.com" rel="nofollow" target="_blank">http://www.leimberg.com</a>

Reasonable Cause for Late Filing - I Did Not Late File - Ed Zollars

This week we look at adequate disclosure under Revenue Procedure 2005-75 for purposes of escaping the substantial understatement penalty under Section 6662(a).  Download the materials for the podcast from http://www.edzollars.com/Adequate_Disclosure.pdf.  This Podcast is sponsored by Leimberg Information Services, Inc. at http://www.leimbergservices.com  Please visit our software, books, and PowerPoint Presentations site at http://www.leimberg.com 

This week we look at adequate disclosure under Revenue Procedure 2005-75 for purposes of escaping the substantial understatement penalty under Section 6662(a). Download the materials for the podcast from <a href="http://www.edzollars.com/Adequate_Disclosure.pdf" rel="nofollow" target="_blank">http://www.edzollars.com/Adequate_Disclosure.pdf</a>. This Podcast is sponsored by Leimberg Information Services, Inc. at <a href="http://www.leimbergservices.com" rel="nofollow" target="_blank">http://www.leimbergservices.com</a> Please visit our software, books, and PowerPoint Presentations site at <a href="http://www.leimberg.com" rel="nofollow" target="_blank">http://www.leimberg.com</a>

Confession is Good for the Tax Pocketbook

This PodCast is about taxpayer advice and its reliability and its credibility in court.  Taxpayers get their advice from a lot of sources, and we often end up having to defend our own advice against other sources.  This week we have two cases that show that all advice is not created equal.  In the case of Lehrer v. Commissioner (TC Memo 2006-156) a taxpayer learned the hard way that selecting a preparer predominantly on which one computes the lowest tax is not necessarily the best way to end up well advised.And the case of Diem v. Commissioner (TC Summary 2006-121) is useful for those clients that will try and check your advice by calling the IRS for an answer and then reporting the IRS's answer to you (so, you know, you don't have to do any work on that one).  Mr. Diem was clobbered when it turned out an IRS employee's assurance that the program offered by his employer would be treated just like the workers compensation style claim he was giving up for tax purposes turned out not to be so.The materials for this week's presentation are found at http://edzollars.com/2006-08-03_Trust.pdf . This Podcast is sponsored by Leimberg Information Services, Inc. at http://www.leimbergservices.com  Please visit our software, books, and PowerPoint Presentations site at http://www.leimberg.com 

This PodCast is about taxpayer advice and its reliability and its credibility in court.  Taxpayers get their advice from a lot of sources, and we often end up having to defend our own advice against other sources.  This week we have two cases that show that all advice is not created equal.  In the case of Lehrer v. Commissioner (TC Memo 2006-156) a taxpayer learned the hard way that selecting a preparer predominantly on which one computes the lowest tax is not necessarily the best way to end up well advised. And the case of Diem v. Commissioner (TC Summary 2006-121) is useful for those clients that will try and check your advice by calling the IRS for an answer and then reporting the IRS's answer to you (so, you know, you don't have to do any work on that one).  Mr. Diem was clobbered when it turned out an IRS employee's assurance that the program offered by his employer would be treated just like the workers compensation style claim he was giving up for tax purposes turned out not to be so. The materials for this week's presentation are found at <a href="http://edzollars.com/2006-08-03_Trust.pdf" rel="nofollow" target="_blank">http://edzollars.com/2006-08-03_Trust.pdf</a> . This Podcast is sponsored by Leimberg Information Services, Inc. at <a href="http://www.leimbergservices.com" rel="nofollow" target="_blank">http://www.leimbergservices.com</a> Please visit our software, books, and PowerPoint Presentations site at <a href="http://www.leimberg.com" rel="nofollow" target="_blank">http://www.leimberg.com</a>

It's a Matter of (Misplaced) Trust-Taxpayer Reliance on Advice - Ed Zollars

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